---
schema_version: "secwatch.filing_event.v1"
accession: "0001999371-24-010340"
form_type: "8-K"
ticker: "CVU"
cik: "0000889348"
company_name: "CPI AEROSTRUCTURES INC"
filed_at: "2024-08-19T23:59:59+00:00"
generated_at: "2026-05-31T08:46:01.011127+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001999371-24-010340
- form_type: 8-K
- ticker: CVU
- cik: 0000889348
- company_name: CPI AEROSTRUCTURES INC
- filed_at: 2024-08-19T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 1.01, 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/889348/000199937124010340/0001999371-24-010340-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/889348/000199937124010340/cvu-8k_081924.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001999371-24-010340
- JSON: https://secwatch.observer/filing/0001999371-24-010340.json
- Plain text: https://secwatch.observer/filing/0001999371-24-010340.txt

## Key facts
- Executive change
  Philip Passarello was appointed as Chief Financial Officer and Secretary at CPI AEROSTRUCTURES INC.
  - Action: appointed
  - Role: Chief Financial Officer and Secretary
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/889348/000199937124010340/0001999371-24-010340-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.