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Mistras Group, Inc. 8-K Report: Executive Departure Announcement

$MG
Form 8-K
Filed on: 2025-02-13
Source
Mistras Group, Inc. 8-K Report: Executive Departure Announcement

Based on the provided section of the financial report for Mistras Group, Inc., here are the key insights and information extracted:

  1. Filing Type: The document is an 8-K current report, which is used to disclose major events that shareholders should know about.
  2. Date of Report: The report is dated February 7, 2025.
  3. Company Information:
  • Name: Mistras Group, Inc.
  • State of Incorporation: Delaware
  • IRS Employer Identification Number: 22-3341267
  • Address: 195 Clarksville Road, Princeton Junction, New Jersey, 08550
  • Telephone Number: (609) 716-4000
  • Trading Symbol: MG (listed on the New York Stock Exchange)
  1. Key Event:
  • Departure of Executive: The report states that John Smith, the Executive Vice President and President of Services, has been terminated effective February 7, 2025. The termination is described as "without cause."
  1. Severance Details:
  • John Smith will receive severance and related benefits as stipulated in the proxy statement for the Company’s 2024 Annual Meeting of Shareholders, filed on April 4, 2024. The details can be found in the section titled "Executive Compensation-Potential Payments upon Termination of Employment or Change of Control" in that proxy statement.
  1. Signature: The document is signed by Michael C. Keefe, who is identified as the Executive Vice President, General Counsel, and Secretary of the company.
  2. Compliance and Regulations: The filing fulfills the obligations under Section 13 or 15(d) of the Securities Exchange Act of 1934.

This report highlights a significant leadership change within Mistras Group, which may have implications for the company's strategy and operations going forward, as well as potential impacts on investor sentiment.