Business Context and Reporting Period
This is an Amendment No. 1 to a Form 8-K filed by Energy Recovery, Inc. on March 7, 2018, regarding events occurring on March 2, 2018. The filing addresses the compensation arrangements for Mr. Chris M. Gannon, who was appointed as the Company's interim President and Chief Executive Officer on February 27, 2018.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report is strictly limited to executive compensation disclosure.
Material Changes
The primary material change disclosed is the determination of Mr. Gannon's compensation package by the Compensation Committee. Specifically, his annual base salary was increased by $75,000, prorated for the duration of his interim service. No other changes to his compensation were made.
Guidance, Outlook, and Risks
The filing contains no guidance, outlook, management commentary on operations, risks, contingencies, or unusual items. It serves solely to amend the original report to disclose the specific salary adjustment for the interim CEO.
Investor Verification Checklist
- Verify the exact start and end dates of Mr. Gannon's interim tenure to calculate the prorated salary amount.
- Review the original Form 8-K filed on February 27, 2018, for the full context of the appointment.
- Confirm if this interim appointment impacts the timeline for a permanent CEO search.