Centuri discloses interim CEO Caudill's $275K/month fee, 26,315 RSUs; Fehrman forfeits equity, repays $2M bonus

Centuri Holdings, Inc.

Paul J. Caudill appointed interim President & CEO effective July 31, 2024; $275,000 monthly consulting fee.
Caudill receives 26,315 time-based RSUs ($500,000 value) vesting one year from July 1, 2024.
Initial term of six months; may extend monthly if successor not appointed.
Former CEO William J. Fehrman forfeits all unvested RSUs and repays $2 million signing bonus upon resignation.

item 5.02 item 9.01

Executive movements

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Appointed (interim)

Paul J. Caudill

interim President and Chief Executive Officer

CTRI · Centuri Holdings, Inc.

Effective: 2024-07-31
Filed: July 17, 2024, 7:59 PM ET

In connection with Mr. Caudill’s appointment as interim Chief Executive Officer, on July 16, 2024, the Company entered into a consulting agreement (the “Consulting Agreement”) with Mr. Caudill.

Departed

William J. Fehrman

President and Chief Executive Officer

CTRI · Centuri Holdings, Inc.

Successor: Paul J. Caudill
Filed: July 17, 2024, 7:59 PM ET

As previously disclosed in the Initial Form 8-K, in connection with his resignation as President and Chief Executive Officer of the Company, Mr. Fehrman will forfeit all of his unvested restricted stock units and cash incentive awards and repay the $2.0 million signing bonus paid to him upon commencement of his employment with the Company.

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

Paul J. Caudill was appointed as interim President and Chief Executive Officer at Centuri Holdings, Inc..

Action: appointed
Role: interim President and Chief Executive Officer

Exact text from the filing

In connection with Mr. Caudill’s appointment as interim Chief Executive Officer, on July 16, 2024, the Company entered into a consulting agreement (the “Consulting Agreement”) with Mr. Caudill.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.85

William J. Fehrman resigned as President and Chief Executive Officer at Centuri Holdings, Inc..

Action: resigned
Role: President and Chief Executive Officer

Exact text from the filing

As previously disclosed in the Initial Form 8-K, in connection with his resignation as President and Chief Executive Officer of the Company, Mr. Fehrman will forfeit all of his unvested restricted stock units and cash incentive awards and repay the $2.0 million signing bonus paid to him upon commencement of his employment with the Company.

View on SEC.gov

Centuri Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-24-180353

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