8-K
filed October 11, 2022, 7:59 PM ET
ticker MPTI
CIK 0001902314
other material
confidence high
sentiment neutral
materiality 0.75
M-tron Industries completes spin-off from LGL Group; begins trading as MPTI on NYSE American
M-tron Industries, Inc.
- LGL distributed 100% of MtronPTI shares on Oct 7, 2022; LGL holders received 0.5 MPTI shares per LGL share.
- MtronPTI becomes independent, listed on NYSE American under MPTI; LGL retains no ownership.
- Board appointed: Marc Gabelli (Chairman), Michael Ferrantino (CEO), plus other directors and officers.
- Cancelled intercompany balance of $4.44M and declared $5,973 dividend to LGL to reduce cash to $1M.
- Transitional services and tax indemnity agreements with LGL in place for up to 12 months.
Key facts
Extracted from this filing and checked against the source text.
Executive change
SEC 8-K Item 5.02
confidence 0.95
Hendi Susanto was appointed as Director at M-tron Industries, Inc..
- Action
- appointed
- Role
- Director
Exact text from the filing
Marc J. Gabelli , Michael J. Ferrantino, Hendi Susanto , John S. Mega , B el Lazar , Robert V. “Rob” LaPenta Jr. , and David M. Goldman were appointed as directors of MtronPTI.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Robert V. LaPenta Jr. was appointed as Director at M-tron Industries, Inc..
- Action
- appointed
- Role
- Director
Exact text from the filing
Marc J. Gabelli , Michael J. Ferrantino, Hendi Susanto , John S. Mega , B el Lazar , Robert V. “Rob” LaPenta Jr. , and David M. Goldman were appointed as directors of MtronPTI.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
James W. Tivy was appointed as Chief Financial Officer at M-tron Industries, Inc..
- Action
- appointed
- Role
- Chief Financial Officer
Exact text from the filing
James W. Tivy was appointed to serve as the Chief Financial Officer of MtronPTI
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Marc J. Gabelli was appointed as Director at M-tron Industries, Inc..
- Action
- appointed
- Role
- Director
Exact text from the filing
Marc J. Gabelli , Michael J. Ferrantino, Hendi Susanto , John S. Mega , B el Lazar , Robert V. “Rob” LaPenta Jr. , and David M. Goldman were appointed as directors of MtronPTI.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Michael J. Ferrantino was appointed as Director at M-tron Industries, Inc..
- Action
- appointed
- Role
- Director
Exact text from the filing
Marc J. Gabelli , Michael J. Ferrantino, Hendi Susanto , John S. Mega , B el Lazar , Robert V. “Rob” LaPenta Jr. , and David M. Goldman were appointed as directors of MtronPTI.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
David M. Goldman was appointed as Director at M-tron Industries, Inc..
- Action
- appointed
- Role
- Director
Exact text from the filing
Marc J. Gabelli , Michael J. Ferrantino, Hendi Susanto , John S. Mega , B el Lazar , Robert V. “Rob” LaPenta Jr. , and David M. Goldman were appointed as directors of MtronPTI.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
John S. Mega was appointed as Director at M-tron Industries, Inc..
- Action
- appointed
- Role
- Director
Exact text from the filing
Marc J. Gabelli , Michael J. Ferrantino, Hendi Susanto , John S. Mega , B el Lazar , Robert V. “Rob” LaPenta Jr. , and David M. Goldman were appointed as directors of MtronPTI.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Michael Ferrantino was appointed as Chief Executive Officer at M-tron Industries, Inc..
- Action
- appointed
- Role
- Chief Executive Officer
Exact text from the filing
Michael Ferrantino was appointed to serve as the Chief Executive Officer of MtronPTI
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Marc J. Gabelli was appointed as Chairman of the Board at M-tron Industries, Inc..
- Action
- appointed
- Role
- Chairman of the Board
Exact text from the filing
Marc J. Gabelli was appointed Chair man of the Board effective as of 12:01 a .m. Eastern Time on October 7, 2022.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
William A. Drafts was appointed as President at M-tron Industries, Inc..
- Action
- appointed
- Role
- President
Exact text from the filing
William A. Drafts was appointed to serve as the President of MtronPTI
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Bel Lazar was appointed as Director at M-tron Industries, Inc..
- Action
- appointed
- Role
- Director
Exact text from the filing
Marc J. Gabelli , Michael J. Ferrantino, Hendi Susanto , John S. Mega , B el Lazar , Robert V. “Rob” LaPenta Jr. , and David M. Goldman were appointed as directors of MtronPTI.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Linda M. Biles was appointed as V.P., Controller and Secretary at M-tron Industries, Inc..
- Action
- appointed
- Role
- V.P., Controller and Secretary
Exact text from the filing
Linda M. Biles was appointed to be the V.P., Controller and Secretary of MtronPTI following the Distribution.
View on SEC.gov
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