secwatch.observer — SEC 8-K summary
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Issuer:     Clearfield, Inc. (CLFD)
CIK:        0000796505
Form:       8-K
Filed at:   2023-02-24T23:59:59+00:00
Accession:  0001171843-23-001158
Event type: other_material
Sentiment:  neutral
Materiality: 0.35
Item codes: 5.02
LLM model:  deepseek-v4-flash:cloud@v2

Clearfield adopts 2023 bonus plan with net sales/EBITDA metrics; grants restricted stock at $100/share
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- 2023 Bonus Plan uses net sales (75% weight) and adjusted EBITDA (25% weight) for executive cash incentives.
- CEO Beranek and COO Hill: min 60%, target 100%, max 200% of base salary; CFO Herzog: min 60%, target 75%, max 100%.
- Restricted stock grants: Beranek and Hill 10,000 shares each, Herzog 5,000 shares, at $100/share reference price.
- Grants contingent on shareholder approval of 2022 Stock Compensation Plan; grant date after 2023 annual meeting.
- All bonus payments subject to clawback under Compensation Recoupment Policy adopted Sept 23, 2021.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/796505/000117184323001158/0001171843-23-001158-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/796505/000117184323001158/f8k_022423.htm
  HTML page:      https://secwatch.observer/filing/0001171843-23-001158

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