CPI Aerostructures appoints Philip Passarello as CFO; prior CFO Andrew Davis terminated without cause

CPI AEROSTRUCTURES INC

Philip Passarello, 45, appointed CFO and Secretary effective August 19, 2024; replaces Andrew Davis whose employment was terminated without cause.
Passarello will receive annual base salary of $350,000, eligibility for annual short-term cash and long-term equity incentive plans up to 40% each.
One-time equity award of 20,000 restricted shares vesting August 19, 2026; $100,000 in cash bonuses conditional on timely SEC filings.
Severance and change in control agreement provides for 12 months salary without cause, 1.5x salary in change in control termination.
Passarello previously VP of Finance at TTM Technologies and Telephonics; earlier career at KPMG.

item 1.01 item 5.02 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Appointed

Philip Passarello

Chief Financial Officer and Secretary

CVU · CPI AEROSTRUCTURES INC

Effective: 2024-08-19
Filed: August 19, 2024, 7:59 PM ET

Effective August 19, 2024, Philip Passarello, 45, was appointed by the board of directors of CPI Aerostructures, Inc. (the “Company) to the positions of Chief Financial Officer and Secretary.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Philip Passarello was appointed as Chief Financial Officer and Secretary at CPI AEROSTRUCTURES INC.

Action: appointed
Role: Chief Financial Officer and Secretary

Exact text from the filing

Effective August 19, 2024, Philip Passarello, 45, was appointed by the board of directors of CPI Aerostructures, Inc. (the “Company) to the positions of Chief Financial Officer and Secretary.

View on SEC.gov

CPI AEROSTRUCTURES INC filing history →

Source: SEC EDGAR

accession 0001999371-24-010340

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.