Mistras Group finalizes separation with ex-CEO Bertolotti; severance ~$1.9M plus equity vesting

Mistras Group, Inc.

Lump sum cash payment of $1,229,130 and additional $645,870 in installments over 18 months.
Immediate vesting of 253,537 unvested restricted stock units and earned performance-based RSUs.
COBRA healthcare premiums paid for 18 months; life insurance premiums for 24 months ($7,065/year).
Vehicle purchased at discount; pro rata 2023 bonus based on actual performance metrics.
Non-compete for one year, non-solicitation for two years, and general release of claims.

item 5.02 item 9.01

Executive movements

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Departed

Dennis Bertolotti

President and Chief Executive Officer

MG · Mistras Group, Inc.

Effective: 2023-10-09
Filed: December 8, 2023, 6:59 PM ET

Effective December 6, 2023, Mistras Group, Inc. (the “Company”) entered into a Separation Agreement and a General Release of Claims (collectively, the “Separation Agreement”) with Dennis Bertolotti, the former President and Chief Executive Officer of the Company, who was terminated from his positions on October 9, 2023.

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

Dennis Bertolotti was terminated as President and Chief Executive Officer at Mistras Group, Inc..

Action: terminated
Role: President and Chief Executive Officer

Exact text from the filing

Effective December 6, 2023, Mistras Group, Inc. (the “Company”) entered into a Separation Agreement and a General Release of Claims (collectively, the “Separation Agreement”) with Dennis Bertolotti, the former President and Chief Executive Officer of the Company, who was terminated from his positions on October 9, 2023.

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Mistras Group, Inc. filing history →

Source: SEC EDGAR

accession 0001436126-23-000057

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