secwatch.observer — SEC 8-K summary
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Issuer:     NORTECH SYSTEMS INC (NSYS)
CIK:        0000722313
Form:       8-K
Filed at:   2023-12-05T23:59:59+00:00
Accession:  0001437749-23-033686
Event type: leadership
Sentiment:  neutral
Materiality: 0.50
Item codes: 5.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Nortech Systems hires Andrew LaFrence as CFO, effective Dec. 1, 2023
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/722313/000143774923033686/0001437749-23-033686-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/722313/000143774923033686/nsys20231205_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-23-033686

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