{"schema_version":"secwatch.filing_event.v1","accession":"0001437749-23-033686","form_type":"8-K","ticker":"NSYS","cik":"0000722313","company_name":"NORTECH SYSTEMS INC","filed_at":"2023-12-05T23:59:59+00:00","discovered_at":"2026-05-14T18:03:31.823363+00:00","generated_at":"2026-06-07T18:22:59.087245+00:00","sec_items":["5.02","8.01","9.01"],"event_type":"leadership","sentiment":"neutral","materiality_score":0.5,"calibrated_materiality_score":0.5,"confidence":"high","headline":"Nortech Systems hires Andrew LaFrence as CFO, effective Dec. 1, 2023","bullets":["Andrew LaFrence appointed CFO and Senior VP of Finance effective Dec. 1, 2023, succeeding Alan Nordstrom.","Annual base salary of $315,000; eligible for bonus up to 45% of base salary.","Received non-qualified stock option for 40,000 shares at $9.04, vesting over 5 years.","Employment term through Nov 30, 2024, with auto-renewal; severance for termination without cause or after change of control.","LaFrence has 39 years of experience; prior CFO roles at Vyant Bio, KORU Medical, StemoniX, Biothera, and Surmodics."],"urls":{"canonical":"https://secwatch.observer/filing/0001437749-23-033686","json":"https://secwatch.observer/filing/0001437749-23-033686.json","markdown":"https://secwatch.observer/filing/0001437749-23-033686.md","text":"https://secwatch.observer/filing/0001437749-23-033686.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/722313/000143774923033686/0001437749-23-033686-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/722313/000143774923033686/nsys20231205_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-07T18:22:59.087245+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"8d8f24e12c","claim":"Alan Nordstrom departed as Chief Financial Officer at NORTECH SYSTEMS INC.","evidence_excerpt":"Mr. LaFrence assumed the duties of chief financial officer and principal accounting officer from Alan Nordstrom.","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/722313/000143774923033686/0001437749-23-033686-index.htm","confidence":0.85,"family_label":"Executive change","details":[{"label":"Action","value":"departed"},{"label":"Role","value":"Chief Financial Officer"}],"fact_type":"executive_change"},{"claim_id":"e3461e2e3f","claim":"Andrew D.C. LaFrence was appointed as Chief Financial Officer and Senior Vice President of Finance at NORTECH SYSTEMS INC.","evidence_excerpt":"On December 1, 2023, the Company entered into an Employment Agreement with Andrew D. C. LaFrence (the “LaFrence Agreement”) as the Company’s Chief Financial Officer and Senior Vice President of Finance effective December 1, 2023.","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/722313/000143774923033686/0001437749-23-033686-index.htm","confidence":0.95,"family_label":"Executive change","details":[{"label":"Action","value":"appointed"},{"label":"Role","value":"Chief Financial Officer and Senior Vice President of Finance"}],"fact_type":"executive_change"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}