8-K
filed January 17, 2023, 6:59 PM ET
ticker BOOM
CIK 0000034067
leadership
confidence high
sentiment neutral
materiality 0.75
DMC Global CEO Kevin Longe steps down; Q4 guidance raised above prior range
DMC Global Inc.
- Kevin Longe resigned as CEO and director effective Jan 15; CFO Michael Kuta and chairman David Aldous named interim co-CEOs.
- Q4 2022 sales guidance raised to $173-$175M (prior $158-$168M); adjusted EBITDA expected at/above high end of $15-$18M.
- Longe to receive severance: 18 months salary, lump sum ~$626k, accelerated equity vesting.
- Kuta postpones planned retirement; Aldous steps down as chairman, replaced by Richard Graff.
- Interim co-CEOs receive $600k base salary, $600k target bonus (pro-rated), $600k restricted stock grant.
Key facts
Extracted from this filing and checked against the source text.
Executive change
SEC 8-K Item 5.02
confidence 0.95
David Aldous departed as Chairman of the Board at DMC Global Inc..
- Action
- stepped down
- Role
- Chairman of the Board
Exact text from the filing
Relatedly, Mr. Aldous stepped down as Chairman of the Board, but not as a director, and was replaced as Chairman by director Richard Graff.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Michael Kuta was appointed as Interim co-President and Chief Executive Officer at DMC Global Inc..
- Action
- appointed
- Role
- Interim co-President and Chief Executive Officer
Exact text from the filing
The Company’s Board of Directors (the “Board”) appointed Michael Kuta, the Company’s current Chief Financial Officer, and director David Aldous as interim co-President and Chief Executive Officers to replace Mr. Longe.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Kevin Longe departed as President and Chief Executive Officer at DMC Global Inc..
- Action
- stepped down
- Role
- President and Chief Executive Officer
Exact text from the filing
On January 17, 2023, DMC Global Inc. (the “Company”) announced that Kevin Longe has stepped down as President and Chief Executive Officer of the Company, and that Mr. Longe has resigned as a director of the Company.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Kevin Longe resigned as Director at DMC Global Inc..
- Action
- resigned
- Role
- Director
Exact text from the filing
On January 17, 2023, DMC Global Inc. (the “Company”) announced that Kevin Longe has stepped down as President and Chief Executive Officer of the Company, and that Mr. Longe has resigned as a director of the Company.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
David Aldous was appointed as Interim co-President and Chief Executive Officer at DMC Global Inc..
- Action
- appointed
- Role
- Interim co-President and Chief Executive Officer
Exact text from the filing
The Company’s Board of Directors (the “Board”) appointed Michael Kuta, the Company’s current Chief Financial Officer, and director David Aldous as interim co-President and Chief Executive Officers to replace Mr. Longe.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Richard Graff was appointed as Chairman of the Board at DMC Global Inc..
- Action
- appointed
- Role
- Chairman of the Board
Exact text from the filing
Relatedly, Mr. Aldous stepped down as Chairman of the Board, but not as a director, and was replaced as Chairman by director Richard Graff.
View on SEC.gov
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