CVD Equipment restructures, exits new CVD system orders; CEO Lakios out, Cheesman acting CEO

CVD EQUIPMENT CORP

Restructuring: no new system orders for CVD equipment business; workforce cut ~50% to support backlog, warranty, parts/quartz/services.
Restructuring charge of $0.8M-$1.0M expected in Q3 2026 (quarter ending Sept 30) for severance and related costs.
CEO Emmanuel Lakios mutually agreed to depart effective Sept 3, 2026; Warren Cheesman (VP Mfg Ops) appointed Acting CEO.
Company had $23.5M cash and no debt at end of Q2 2026; evaluating real estate monetization and other cost cuts.
Board continues to evaluate strategic alternatives to enhance shareholder value.

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