Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Appointment of Chief Accounting Officer
On February 9, 2022, the Board of Directors of the Company (the "Board")
appointed John Tedone (age 57) to serve as the Company's Chief Accounting
Officer, effective February 14, 2022 (the "Commencement Date"). Mr. Tedone has
25 years of experience in various financial leadership roles at manufacturing
and distributions organizations. Prior to Eos, Mr. Tedone most recently served
as Vice President, Finance and Chief Accounting Officer of Lydall, Inc., a
publicly-traded global provider of specialty filtration and advanced materials
solutions, since 2020. There, Mr. Tedone was responsible for the Company's
global accounting, tax and SEC reporting functions. From April 2007 to April
2020, Mr. Tedone served as the Vice President, Finance and Chief Accounting
Officer of Kaman Corporation (NYSE: KAMN), a global provider of highly
engineered products and solutions serving the aerospace, defense and medical
industries. Mr. Tedone joined Kaman Corporation in November 2004 as Assistant
Vice President, Internal Audit and was promoted to Vice President, Internal
Audit in 2006. Mr. Tedone holds a Master of Business Administration in
Management from Rensselaer Polytechnic Institute and a Bachelor of Science in
Accounting from Central Connecticut State University. Mr. Tedone is a Certified
Public Accountant.
In connection with his appointment, the Company entered into an employment
letter with Mr. Tedone (the "Employment Letter"), pursuant to which Mr. Tedone
will receive an annual base salary of $250,000. Mr. Tedone will also be eligible
for a year-end target bonus opportunity of 25% of his annual base salary, with
the actual bonus to be determined based on performance. In addition, upon
commencing his employment with the Company, Mr. Tedone will receive a grant of
50,000 restricted stock units that settle in shares of Class A common stock of
the Company and vest, subject to continued employment, in three equal annual
installments on each anniversary of the Commencement Date (with accelerated
vesting on a change in control).
The Employment Letter also includes a non-competition covenant that continues
for 12 months following termination of employment.
There are no arrangements or understandings between Mr. Tedone and any other
persons pursuant to which he was selected as an officer of the Company, and Mr.
Tedone is not related to any other executive officer or director of the Company.
Mr. Tedone has no direct or indirect material interest in any transaction
required to be disclosed pursuant to Item 404(a) of Regulation S-K.
The foregoing summary description of the Employment Letter is not complete and
is subject to, and qualified in the entirety by reference to, the full text of
the Employment Letter, which is filed as Exhibit 10.1 to this Form 8-K and is
incorporated herein by reference.
A copy of the press release announcing the actions described above is provided
as Exhibit 99.1 to this Current Report.
Item 9.01 Financial Statement and Exhibits.
(d) Exhibits
Exhibit
Number Description of Document
10.1 Employment Letter
99.1 Press release dated February 14, 2022
104 Cover page of this Current Report on Form 8-K formatted in Inline XBRL
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