secwatch.observer — SEC 8-K summary
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Issuer:     SYPRIS SOLUTIONS INC (SYPR)
CIK:        0000864240
Form:       8-K
Filed at:   2023-02-14T23:59:59+00:00
Accession:  0001437749-23-003367
Event type: other_material
Sentiment:  neutral
Materiality: 0.60
Item codes: 5.02
LLM model:  deepseek-v4-flash:cloud@v2

Sypris grants performance-vesting stock options to CEO, CFO, and VP based on 2023 pre-tax income targets
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- Board approved 2023 Performance Option Awards: Jeff Gill (60k-100k), Richard Davis (40.8k-68k), Anthony Allen (24k-40k) shares.
- Vesting tied to quarterly Pre-Tax Income targets: threshold at 81%, maximum at 90% of annual operating plan.
- Cumulative 2023 Pre-Tax Income must reach at least 70% for any options to vest; unvested options forfeit on termination except death/disability.
- Service-vesting requires continued employment through April 1, 2024; performance determined by Compensation Committee.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/864240/000143774923003367/0001437749-23-003367-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/864240/000143774923003367/sypr20230213_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-23-003367

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer