Insteel Industries Inc 8-K, filed Dec 2, 2022
Insteel Industries Inc (IIIN)
About this 8-K
Insteel Industries Inc filed this 8-K on December 2, 2022, reporting on events of November 30, 2022.
Items reported
- Item 5.02: Director or officer change, or executive pay
- Item 9.01: Financial statements and exhibits
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Commission File Number
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(I.R.S. Employer Identification No.)
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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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| Title of Each Class | Trading Symbol(s) |
Name of Each Exchange on Which
Registered
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 or Rule 12b-2 of the Securities Exchange Act of 1934.
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Emerging growth company
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If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
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Item 5.02.
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Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
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Item 9.01.
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Financial Statements and Exhibits
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Exhibit 99.1
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Exhibit 104
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The cover page from this Current Report on Form 8-K, formatted in Inline XBRL.
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| INSTEEL INDUSTRIES, INC. | |||
| Registrant | |||
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Date: December 2, 2022
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By:
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/s/ James F. Petelle
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James F. Petelle
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Vice President and Secretary
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Exhibit 99.1
NEWS RELEASE
| FOR IMMEDIATE RELEASE | Contact: | H.O. Woltz III |
| President and CEO | ||
| Insteel Industries Inc. | ||
| (336) 786-2141 |
INSTEEL INDUSTRIES ANNOUNCES ORGANIZATIONAL CHANGE
MOUNT AIRY, N.C., December 1, 2022 – Insteel Industries Inc. (NYSE: IIIN) today announced that Mark A. Carano has resigned as Insteel’s Senior Vice President, Chief Financial Officer and Treasurer effective December 30, 2022 to pursue employment with another company.
Mr. Carano’s departure did not result from any disagreement regarding the Company’s operations, policies or practices.
In connection with such departure and effective January 2, 2023, Scot R. Jafroodi, the Company’s Vice President, Corporate Controller and Chief Accounting Officer, was named Chief Financial Officer. Mr. Jafroodi will continue to serve as the Company’s Chief Accounting Officer until other organizational changes are effected. Mr. Jafroodi, age 53, was named Vice President, Corporate Controller and Chief Accounting Officer in October, 2020. He previously held the role of Corporate Controller and Chief Accounting Officer from February 2007 to October, 2020, and Corporate Controller from July 2005 to February 2007. Before joining us, he was a Senior Manager at BDO Seidman, LLP from June 2003 through June 2005 and, prior to that, had been employed for 10 years at Deloitte & Touche USA LLP, most recently as a Senior Manager.
About Insteel
Insteel is the nation’s largest manufacturer of steel wire reinforcing products for concrete construction applications. Insteel manufactures and markets prestressed concrete strand and welded wire reinforcement, including engineered structural mesh, concrete pipe reinforcement and standard welded wire reinforcement. Insteel’s products are sold to manufacturers of concrete products and concrete contractors for use in nonresidential construction applications. Headquartered in Mount Airy, North Carolina, Insteel operates ten manufacturing facilities located in the United States.
IIIN – G
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