---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-23-011627"
form_type: "8-K"
ticker: "RCMT"
cik: "0000700841"
company_name: "RCM TECHNOLOGIES, INC."
filed_at: "2023-04-28T23:59:59+00:00"
generated_at: "2026-06-16T06:56:01.988521+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# RCM Tech: $25M buyback authorized, private repurchase at $11.91, loan extended to 2026, director retiring

## Summary
- Board authorized $25M stock repurchase program; prior program completed. Private repurchase of 333,686 shares at $11.91 on April 24, 2023.
- From Dec 31, 2022 to Apr 28, 2023, total repurchases of 1,149,476 shares for $14.2M at avg $12.36.
- Entered Fourth Amended Loan Agreement with Citizens Bank: $45M revolver, matures April 24, 2026, SOFR-based pricing.
- Director Richard A. Genovese to retire from Board at end of his term in December 2023.
- Issued press release with preliminary Q1 2023 financial results (specific figures not provided in filing text).

## SEC filing metadata
- accession: 0001437749-23-011627
- form_type: 8-K
- ticker: RCMT
- cik: 0000700841
- company_name: RCM TECHNOLOGIES, INC.
- filed_at: 2023-04-28T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 1.01, 2.02, 2.03, 5.02, 7.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/700841/000143774923011627/0001437749-23-011627-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/700841/000143774923011627/rcmt20230425c_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-23-011627
- JSON: https://secwatch.observer/filing/0001437749-23-011627.json
- Plain text: https://secwatch.observer/filing/0001437749-23-011627.txt

## Key facts
- Executive change
  Richard A. Genovese departed as Director at RCM TECHNOLOGIES, INC..
  - Action: retire
  - Role: Director
  source text: On April 25, 2023, Richard A. Genovese, a member of the Company’s Board of Directors (the “Board”), notified the Company of his intention to retire from the Board effective at the end of his current term in December 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/700841/000143774923011627/0001437749-23-011627-index.htm
- Material Agreements
  RCM TECHNOLOGIES, INC. entered into Fourth Amended and Restated Loan Agreement with Citizens Bank, N.A. valued at Total commitment of $45.0 million, maturity date of April 24, 2026, interest based on SOFR or Altern (effective 2023-04-24).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: Citizens Bank, N.A.
  - Value: Total commitment of $45.0 million, maturity date of April 24, 2026, interest based on SOFR or Altern
  - Effective: 2023-04-24
  source text: On April 24, 2023, RCM Technologies, Inc. (the “ Company ”) and all of its subsidiaries (collectively, the “ Borrowers ”) entered into a Fourth Amended and Restated Loan Agreement (the “ Fourth Amended and Restated Loan Agreement ”) with Citizens Bank, N.A., as lender (in such capacity, the “ Lender ”) and as administrative agent and arranger (in such capacity, the “ Administrative Agent ”), to amend and restate in its entirety that certain Third Amended and Restated Agreement dated as of the August 9, 2018 (as the same has been amended and modified prior to the date hereof, the “ Existing Loan Agreement ”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/700841/000143774923011627/0001437749-23-011627-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.