secwatch.observer — SEC 8-K summary
======================================

Issuer:     Optex Systems Holdings Inc (OPXS)
CIK:        0001397016
Form:       8-K
Filed at:   2022-11-28T23:59:59+00:00
Accession:  0001493152-22-033860
Event type: other_material
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 2.03, 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Optex Systems ups revolving credit facility to $2M, signs CEO through 2025
--------------------------------------------------------------------------

- Revolving credit line increased from $1.125M to $2.0M with PNC Bank; maturity unchanged at April 15, 2023.
- Interest rate set at Prime minus 0.25%; secured by substantially all operating assets.
- CEO Danny Schoening enters new employment agreement (Dec 1, 2022 – Nov 30, 2025) with initial base salary $304,912.
- Base salary increases to $314,060 on Dec 1, 2023, then to $323,481 on Dec 1, 2024; target bonus 30% of base.
- RSU vesting date moved from change-of-control to Jan 1, 2023 for previously granted restricted stock units.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1397016/000149315222033860/0001493152-22-033860-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1397016/000149315222033860/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-22-033860

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