---
schema_version: "secwatch.filing_event.v1"
accession: "0000352825-23-000047"
form_type: "8-K"
ticker: "FSTR"
cik: "0000352825"
company_name: "FOSTER L B CO"
filed_at: "2023-04-07T23:59:59+00:00"
generated_at: "2026-06-17T04:47:44.162888+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# L.B. Foster enters cooperation agreement with 22NW Fund; grants board observer seat to Alexander Jones

## Summary
- Agreement with 22NW Fund (9.3% owner) appoints Alexander B. Jones as non-voting board observer effective immediately.
- Investor group agrees to standstill through 2024 annual meeting; votes in favor of board nominees and company proposals.
- Company reimburses investor group up to $18,000 in legal fees; observer rights end if ownership falls below 5%.
- Standstill prohibits investor group from acquiring over 15% of shares, soliciting proxies, or seeking control without board consent.

## SEC filing metadata
- accession: 0000352825-23-000047
- form_type: 8-K
- ticker: FSTR
- cik: 0000352825
- company_name: FOSTER L B CO
- filed_at: 2023-04-07T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/352825/000035282523000047/0000352825-23-000047-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/352825/000035282523000047/fstr-20230406.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000352825-23-000047
- JSON: https://secwatch.observer/filing/0000352825-23-000047.json
- Plain text: https://secwatch.observer/filing/0000352825-23-000047.txt

## Key facts
- Material Agreements
  FOSTER L B CO entered into Cooperation Agreement with 22NW Fund, LP, 22NW, LP, 22NW Fund GP, LLC, 22NW GP, Inc., Mr. Aron R. English, Mr. Bryson O. Hirai-Hadley, and Mr. Alexander B. Jones (effective 2023-04-06).
  - Action: entry
  - Counterparty: 22NW Fund, LP, 22NW, LP, 22NW Fund GP, LLC, 22NW GP, Inc., Mr. Aron R. English, Mr. Bryson O. Hirai-Hadley, and Mr. Alexander B. Jones
  - Effective: 2023-04-06
  source text: On April 6, 2023, L. B. Foster Company, a Pennsylvania corporation (the “Company”), entered into a Cooperation Agreement (the “Cooperation Agreement”) with 22NW Fund, LP, 22NW, LP, 22NW Fund GP, LLC, 22NW GP, Inc., Mr. Aron R. English, Mr. Bryson O. Hirai-Hadley, and Mr. Alexander B. Jones (each, and “Investor” and collectively, the “Investor Group”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/352825/000035282523000047/0000352825-23-000047-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.