UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
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| Item 5.02 | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
On March 27, 2024, the Board of Directors (the “Board”) of Graham Corporation (the “Company”), approved an increase to the annual base salary for each of Daniel Thoren, the Company’s President and Chief Executive Officer, Christopher J. Thome, the Company’s Vice President – Finance, Chief Financial Officer and Chief Accounting Officer, and Matthew Malone, the Company’s Vice President and General Manager – Barber-Nichols (together, the “NEOs”), resulting in the following annual base salaries:
| Name |
Annual Base Salary | |||
| Daniel Thoren |
$ | 500,000 | ||
| Christopher J. Thome |
$ | 360,000 | ||
| Matthew Malone |
$ | 330,000 | ||
Further, on March 27, 2024, the Board approved an increase to the target equity long-term incentive plan (the “LTIP”) award each NEO will receive, which is based on a percentage of base salary. For fiscal 2025, each NEO will receive a target LTIP award equal in value to: Daniel J. Thoren – 170%; Christopher J. Thome – 70%; and Matthew Malone – 60% of their base salary.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Report to be signed on its behalf by the undersigned hereunto duly authorized.
| Graham Corporation | ||||||
| Date: April 1, 2024 | By: | /s/ Christopher J. Thome | ||||
| Christopher Thome | ||||||
| Vice President – Finance, Chief Financial Officer and Chief Accounting Officer | ||||||