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Get RCAT alertsRed Cat Holdings, Inc. reported in an 8-K filed March 18, 2024 that Joseph Hernon resigned as Chief Financial Officer, effective March 15, 2024. Red Cat Holdings, Inc. reported in an 8-K filed November 29, 2023 that Joseph Hernon retired as Chief Financial Officer, effective June 30, 2024. The proxy statement of Red Cat Holdings, Inc. reports total compensation of $639,187 for Joseph Hernon in fiscal 2024, including a base salary of $230,000. Disclosed compensation is on record for 4 fiscal years. Joseph Hernon has spoken on 9 earnings calls across 1 company, most recently for Red Cat Holdings, Inc. on June 30, 2024. Red Cat Holdings, Inc. is classified in the Aerospace & Defense industry within the Industrials sector. Other leadership on record at Red Cat Holdings, Inc. includes George Matus (CEO and CTO), Jeffrey Thompson (CEO, CFO and Board Member), Paul Funk, II (Chairman) and 7 others.
“Under the Addendum, effective as of March 15, 2024, Mr. Hernon shall resign without Good Reason (as defined in the Hernon Employment Agreement) as the Chief Financial Officer of the Company, and shall instead provide consulting services to the Company pursuant to the terms of the Hernon Consulting Agreement.”
“our current Chief Financial Officer, Joseph Hernon, has notified us that he intends to retire at the end of his current employment contract on June 30, 2024.”
“As Jeff noted, we are reporting record revenues, record gross margin, and record backlog for the second quarter of fiscal 2024, which ended on October 31.”
“I will now provide a review of our operating results for the fiscal first quarter, which ended on July 31st, 2023. My comments will focus on a number of financial milestones and events, which leave us strongly positioned for the balance of fiscal '24 and beyond.”
“I’m going to echo many of the statements that Jeff just made with some added financial perspective. As Jeff just noted, fiscal 2023 was a year in which the company reported strong revenue growth while making substantial investments designed to position the company for continued revenue growth in fiscal 2024 and beyond.”
“I will now provide a review of our financial results through our fiscal quarter which ended on January 31, 2023. Revenues exceeded $3 million for the second of three quarters in fiscal 2023, and have increased more than 50% on a year-to-date basis compared to the first three quarters of fiscal 2022.”
“I will now provide some financial highlights of our results for the second fiscal quarter, which ended on October 31st. Year-to-date, our revenues for the first six months of fiscal '23 increased 41% compared to the same period last year.”
SEC 8-K
2020-01-23–present
Start not stated–2024-03-15
Aerospace & Defense · Industrials
Compensation components disclosed in company proxy statements. Amounts are nominal USD; total is the company-reported figure.
| Fiscal year | Company | Role | Salary | Total |
|---|---|---|---|---|
| 2024 | Red Cat Holdings, Inc. (RCAT) | Former Chief Financial Officer | $230,000 | $639,187 |
| 2023 | Red Cat Holdings, Inc. (RCAT) | Former Chief Financial Officer | $230,000 | $819,518 |
| 2022 | Red Cat Holdings, Inc. (RCAT) | Chief Financial Officer and Secretary | $191,500 | $508,950 |
| 2021 | Red Cat Holdings, Inc. (RCAT) | Chief Financial Officer and Secretary | $120,000 | $120,000 |
