Espey raises quarterly dividend 14% to $0.20; new CEO employment agreement through 2026

ESPEY MFG & ELECTRONICS CORP

Dividend increased 14% to $0.20 per share; payable June 24, 2024 to holders of record June 17, 2024.
New employment agreement with CEO David O'Neil runs through December 31, 2026; base salary $300,296.
Performance bonus capped at 100% of base salary, tied to discretionary, sales/backlog growth, and operating earnings growth.
Severance: 9 months' base pay if terminated without cause; 18 months if terminated after a change of control.
Jennifer Pickering appointed Assistant Corporate Secretary; joined as Chief HR Officer in April 2024.

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