Business Context and Reporting Period
This Form 8-K Current Report was filed by Northwest Pipe Company (NWPX Infrastructure, Inc.) on January 16, 2007. The report discloses a corporate governance event regarding the election of a new director and associated compensation arrangements.
Key Financial Metrics
The filing does not provide financial performance data such as revenue, profit, cash flow, margins, debt, or liquidity. The only financial figures disclosed relate to director compensation:
- Annual Retainer: $24,000
- Board Meeting Fee: $1,000 per meeting attended
- Telephonic Board Meeting Fee: $500 per meeting attended
- Committee Meeting Fee: $500 per meeting attended
- Stock Options: Option to purchase 2,000 shares of Common Stock annually under the 1995 Stock Option Plan for Nonemployee Directors
Material Changes
On January 16, 2007, Michael C. Franson was elected to the Board of Directors for a term expiring at the 2007 Annual Meeting of Shareholders. He was also elected to serve on the Compensation Committee. This represents a change in the composition of the Board and the Compensation Committee.
Guidance, Outlook, and Risks
The filing contains no management commentary, financial guidance, outlook, risk factors, contingencies, or unusual items. The document is strictly limited to the disclosure of the director election and compensation terms.
Investor Verification Checklist
- Verify the term expiration date for Michael C. Franson (2007 Annual Meeting of Shareholders).
- Confirm the specific terms of the 1995 Stock Option Plan for Nonemployee Directors regarding the 2,000-share annual grant.
- Review the total number of Board and Committee meetings expected to calculate potential variable compensation.