Insteel CFO Mark Carano resigns; Scot Jafroodi named new CFO effective Jan 2, 2023

INSTEEL INDUSTRIES INC

Mark A. Carano resigns as SVP, CFO and Treasurer effective Dec 30, 2022 to pursue other employment; no disagreement with company practices.
Scot R. Jafroodi, previously VP Corporate Controller and CAO, named CFO effective Jan 2, 2023; will also continue as CAO initially.
Jafroodi receives base salary of $310,000, annual target bonus 60% of base, and equity awards with grant-date value of $250,000 (50% RSUs, 50% options).
Jafroodi has executed Insteel's standard Retirement Security Agreement and Change in Control Severance Agreement.

item 5.02 item 9.01

Executive movements

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Appointed

Scot R. Jafroodi

Chief Financial Officer

IIIN · INSTEEL INDUSTRIES INC

Effective: 2023-01-02
Filed: December 2, 2022, 6:59 PM ET

Scot R. Jafroodi, the Company’s Vice President, Corporate Controller and Chief Accounting Officer, was named as Chief Financial Officer.

Departed

Mark A. Carano

Senior Vice President, Chief Financial Officer and Treasurer

IIIN · INSTEEL INDUSTRIES INC

Effective: 2022-12-30
Successor: Scot R. Jafroodi
Filed: December 2, 2022, 6:59 PM ET

Mark A. Carano, Insteel’s Senior Vice President, Chief Financial Officer and Treasurer, has submitted his resignation from the Company to pursue employment with another company.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Scot R. Jafroodi was appointed as Chief Financial Officer at INSTEEL INDUSTRIES INC.

Action: appointed
Role: Chief Financial Officer

Exact text from the filing

Scot R. Jafroodi, the Company’s Vice President, Corporate Controller and Chief Accounting Officer, was named as Chief Financial Officer.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Mark A. Carano resigned as Senior Vice President, Chief Financial Officer and Treasurer at INSTEEL INDUSTRIES INC.

Action: resigned
Role: Senior Vice President, Chief Financial Officer and Treasurer

Exact text from the filing

Mark A. Carano, Insteel’s Senior Vice President, Chief Financial Officer and Treasurer, has submitted his resignation from the Company to pursue employment with another company.

View on SEC.gov

INSTEEL INDUSTRIES INC filing history →

Source: SEC EDGAR

accession 0001437749-22-028291

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