secwatch.observer — SEC 8-K summary
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Issuer:     CPI AEROSTRUCTURES INC (CVU)
CIK:        0000889348
Form:       8-K
Filed at:   2022-03-09T23:59:59+00:00
Accession:  0001387131-22-003473
Event type: leadership
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

CPI Aerostructures appoints Dorith Hakim as CEO, President and director; former Parker Hannifin executive
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- Dorith Hakim, 57, appointed CEO, President and director effective March 9, 2022, replacing Douglas McCrosson.
- Hakim most recently served as Group VP at Parker Hannifin Aerospace, accountable for $1.9B in spending.
- Annual base salary of $350,000; eligible for annual cash bonus up to 60% and long-term equity up to 75% of salary.
- Receives one-time restricted stock award of $50,000 vesting in equal installments in 2023 and 2024.
- Severance agreement provides 18 months salary if terminated without cause; non-compete for 18 months.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/889348/000138713122003473/0001387131-22-003473-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/889348/000138713122003473/cvu-8k_030822.htm
  HTML page:      https://secwatch.observer/filing/0001387131-22-003473

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