Business Context and Reporting Period
This Form 8-K Current Report from Power Solutions International, Inc. (PSIX) covers events occurring on May 12, 2026. The filing addresses significant changes in executive leadership, specifically the resignation of the Chief Executive Officer and the appointment of an interim successor.
Key Financial Metrics
This filing does not contain standard financial performance metrics such as revenue, profit, cash flow, margins, debt, or liquidity. The document focuses exclusively on executive compensation arrangements related to a leadership transition.
- Outbound Compensation (Resignation): The departing CEO is entitled to a 2025 Key Performance Indicator bonus of $945,611.91 and a remaining 2025 Long-Term Incentive bonus of $312,462.09.
- Equity Settlement: Full deemed exercise of 28,334 vested stock appreciation rights (SARs), to be settled in cash.
- Benefits: Partial reimbursement of COBRA premiums for up to twelve months.
Material Changes
The primary material change reported is the departure of Constantine ("Dino") Xykis as Chief Executive Officer, effective May 12, 2026. Mr. Xykis had served in this role since April 24, 2023. Concurrently, the Board of Directors appointed Xun ("Kenneth") Li, the Company's Chief Financial Officer, as Interim Chief Executive Officer. Mr. Li will retain his role as CFO and will not receive additional cash compensation for the interim CEO role, though his compensation may be reviewed by the Compensation Committee.
Guidance, Outlook, and Risks
The filing does not provide updated financial guidance or outlook. The Board's Nominating and Corporate Governance Committee is continuing its search for a permanent Chief Executive Officer. The Resignation Agreement includes a general release of claims and customary covenants. The Company explicitly states that the agreement and payments do not constitute an admission of wrongdoing or liability.
Investor Verification Checklist
- Verify the terms of the Resignation Agreement and General Release filed as Exhibit 10.1.
- Monitor the timeline for the appointment of a permanent Chief Executive Officer.
- Review the impact of the leadership transition on the Company's strategic direction in upcoming communications.
- Confirm the cash settlement value of the 28,334 SARs once the post-separation exercise window is determined.