Mistras Chairman Vahaviolos retires, becomes Strategic Advisor; interim CEO granted 250k options

Mistras Group, Inc.

Sotirios Vahaviolos retired as Executive Chairman, becomes Strategic Advisor to CEO; total comp unchanged at $300k ($100k salary + $200k director fees).
Manuel Stamatakis appointed Chairman of the Board and Interim President/CEO; granted 250k stock options at $5.36 exercise price.
Options granted as inducement for Stamatakis to accept interim CEO role; exercisable for 10 years or 1 year after termination.
Grant date October 11, 2023; exercise price equals NYSE closing price that day.

item 5.02 item 7.01 item 9.01

Executive movements

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Role change

Sotirios Vahaviolos

Executive Chairman

MG · Mistras Group, Inc.

Filed: October 13, 2023, 7:59 PM ET

Mistras Group, Inc. (the “Company”) announced on October 9, 2023, that its then Executive Chairman, Sotirios Vahaviolos, was retiring as Chairman.

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

Sotirios Vahaviolos retired as Executive Chairman at Mistras Group, Inc..

Action: retired
Role: Executive Chairman

Exact text from the filing

Mistras Group, Inc. (the “Company”) announced on October 9, 2023, that its then Executive Chairman, Sotirios Vahaviolos, was retiring as Chairman.

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Mistras Group, Inc. filing history →

Source: SEC EDGAR

accession 0001436126-23-000045

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