UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (date of earliest event reported):June 12, 2018
WSI Industries, Inc.
(Exact name of Registrant as Specified in its Charter)
Minnesota
(State Or Other Jurisdiction Of Incorporation)
000-00619 | 41-0691607 | |
(Commission | (I.R.S. Employer | |
File Number) | Identification No.) | |
213 Chelsea Road Monticello, MN | 55362 | |
(Address Of Principal Executive Offices) | (Zip Code) |
(763) 295-9202
Registrant’s Telephone Number, Including Area Code
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (seeGeneral Instruction A.2. below):
[ ] | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
[ ] | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
[ ] | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
[ ] | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). [ ]
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. [ ]
Items under Sections 1 through 4 and 6 through 9 are not applicable and therefore omitted.
ITEM 5.02 | DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS. |
As previously reported, on May 19, 2017, WSI Industries, Inc. (the “Company”) and Michael J. Pudil entered into an offer letter agreement pursuant to which Mr. Pudil agreed to serve as the Company’s President and Chief Executive Officer at a base salary of $150,000 for the one-year period beginning May 19, 2017.
On June 12, 2018, the Company’s Compensation Committee recommended and the Company’s Board of Directors approved an increase in Mr. Pudil’s annual base salary from $150,000 to $255,000 effective May 19, 2018. The Compensation Committee retains the discretion to award bonuses for Company financial performance or other achievements.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
WSI INDUSTRIES, INC. | ||
By: | /s/ Michael J. Pudil | |
Michael J. Pudil | ||
President and Chief Executive Officer |
Date: June 18, 2018