Company: SXI
Filing Date: 2025-05-08
Form Type: 8-K
Source: 0001437749-25-015403
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Company: STANDEX INTERNATIONAL CORP/DE/
Filing Date: 2025-05-08
Form: 8-K
Item: Item 5.02
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ITEM 5.02 DEPARTING DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS TO CERTAIN OFFICERS

(d) On May 2, 2025, the Board of Directors expanded the size of the Board to nine members and appointed Andy L. Nemeth as a Class III director to fill the vacancy created thereby. Mr. Nemeth’s appointment is the result of a process conducted by the Nominating/Corporate Governance Committee of the Board to recruit a successor to Thomas J. Hansen whose term will expire at the annual meeting of shareholders to be held in October 2025 (the “ Annual Meeting”). Having reached the Company’s mandatory retirement age for directors, Mr. Hansen is not eligible for re-election and will retire as of the Annual Meeting at which time the number of directors on the Board shall revert to eight. In order to facilitate a smooth orientation and transition, Mr. Nemeth has been appointed for an initial term to expire at the Annual Meeting in connection with which it is the intention of the Board to propose that the shareholders elect Mr. Nemeth (in addition to the remaining Class III directors) for a three-year term to expire at the annual shareholders meeting in October 2028. The Board currently anticipates that Mr. Nemeth will serve on the Board’s Audit Committee.

Mr. Nemeth, age 56, is the Chairman of the Board and Chief Executive Officer of Patrick Industries, Inc., a NASDAQ listed manufacturer of component products and materials for the recreational vehicle, marine, manufactured housing, and industrial markets. He has been the Chairman of the Board of Patrick since May 2024 and Chief Executive Officer since January 2020. Prior to that time, Mr. Nemeth was the President of Patrick from January 2016 to July 2021, Executive Vice President of Finance and Chief Financial Officer from May 2004 to December 2015, and Secretary-Treasurer from 2002 to 2015. He was also the Vice President of Finance and Chief Financial Officer from 2003 to 2004.

In connection with his appointment, there are no arrangements or understandings between Mr. Nemeth and any other person regarding his appointment nor are there any related person transactions involving the Company and Mr. Nemeth. As a director, Mr. Nemeth will receive such annual compensation as is payable to all other directors and as most recently set forth in the Company’s Proxy