secwatch.observer — SEC 8-K summary
======================================

Issuer:     POWELL INDUSTRIES INC (POWL)
CIK:        0000080420
Form:       8-K
Filed at:   2022-05-13T23:59:59+00:00
Accession:  0000080420-22-000024
Event type: leadership
Sentiment:  negative
Materiality: 0.65
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Director Perry L. Elders resigns from Powell Industries board citing capital allocation disagreements
--------------------------------------------------------------------------------

- Perry L. Elders resigned as director and audit committee chair, effective May 10, 2022.
- Company cites lack of alignment on capital allocation, board succession, and regulatory risk assessment.
- Powell Industries states its practices align with industry standards; no other director changes announced.
- Elders will provide consulting services to the company through September 30, 2022.
- Resignation letter filed as Exhibit 99.1; company offered opportunity for Elders to respond.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/80420/000008042022000024/0000080420-22-000024-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/80420/000008042022000024/powl-20220510.htm
  HTML page:      https://secwatch.observer/filing/0000080420-22-000024

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer