secwatch.observer — SEC 8-K summary
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Issuer:     ESPEY MFG & ELECTRONICS CORP (ESP)
CIK:        0000033533
Form:       8-K
Filed at:   2024-06-10T23:59:59+00:00
Accession:  0001174947-24-000819
Event type: dividend
Sentiment:  positive
Materiality: 0.50
Item codes: 5.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/33533/000117494724000819/0001174947-24-000819-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/33533/000117494724000819/form8k-32447_esp.htm
  HTML page:      https://secwatch.observer/filing/0001174947-24-000819

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