Business Context and Reporting Period
This Form 8-K Current Report was filed by Energy Recovery, Inc. on May 1, 2015, regarding an event that occurred on April 30, 2015. The filing pertains to corporate governance and executive appointments rather than financial performance.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on personnel changes and does not contain financial statements or operational metrics.
Material Changes
The material change reported is the appointment of Ms. Sharon Smith-Lenox as Corporate Controller and Chief Accounting Officer, effective April 30, 2015. Ms. Smith-Lenox had previously served as the Company's Controller since February 2013.
Guidance, Outlook, and Compensation
There is no guidance, outlook, or management commentary regarding future financial performance in this filing. The document details the compensatory arrangements for the new Chief Accounting Officer:
- Base Salary: $210,000 annually.
- Bonus Eligibility: Up to 40% of annual salary based on performance goals.
- Change of Control: Designated as a participant in the Company's Change of Control Plan.
No risks, contingencies, or unusual items were disclosed in this specific report.
Investor Verification Checklist
- Verify the effective date of the Chief Accounting Officer appointment (April 30, 2015).
- Confirm the total compensation package structure for the new officer.
- Review the attached Exhibit 99.1 (Promotion Letter) for additional contractual terms.
- Note that this filing contains no financial data; refer to the most recent 10-Q or 10-K for financial metrics.