Current Report Filing (8-k)
May 15 2018 - 5:25PM
Edgar (US Regulatory)
UNITED STATES SECURITIES AND EXCHANGE
COMMISSION
Washington,
D.C. 20549
Form
8-K
CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (date of
earliest event reported):
May
10, 2018
Commission file number 0-21513
DXP
Enterprises, Inc.
(Exact name of registrant as
specified in its charter)
Texas
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76-0509661
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(State or other jurisdiction of incorporation or organization)
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(I.R.S. Employer Identification Number)
|
|
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7272 Pinemont, Houston, Texas 77040
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(713) 996-4700
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(Address of principal executive offices)
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Registrant’s telephone number, including area code.
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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:
⃞
Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
⃞
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
⃞
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
⃞
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
Indicate by check mark whether the registrant is an emerging growth
company as defined in Rule 405 of the Securities Act of 1933 (§230.405
of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934
(§240.12b-2 of this chapter).
Emerging growth company
⃞
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.
⃞
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.
|
On May 15, 2018, DXP Enterprises, Inc., (the “Company”) announced that
on May 10, 2018 Eugene (Gene) Padgett had been appointed as the
Company’s new Chief Accounting Officer, effective May 21, 2018. Mr.
Padgett is a certified public accountant and has over 20 years of
experience in accounting within a public company environment. Gene
replaces Mac McConnell, who retired on March 31, 2018.
Prior to joining the Company, Mr. Padgett, aged 48, spent ten years with
Spectra Energy in several positions with increasing responsibility
including General Manager of U.S. and Canadian Tax, Director of U.S.
Operations Accounting and General Manager Corporate Accounting. Prior
to Spectra Energy, he spent seven years with Duke Energy in various
roles covering Corporate Accounting, Accounting Research and Policy and
working as a divisional controller. Mr. Padgett started his career at
PricewaterhouseCoopers.
There are no family relationships, as defined in Item 401 of Regulation
S-K, between Mr. Padgett and any of the Company’s executive officers or
directors or persons nominated or chosen to become a director or
executive officer. There is no arrangement or understanding between Mr.
Padgett and any other person pursuant to which Mr. Padgett was
appointed. There are no transactions in which Mr. Padgett has an
interest requiring disclosure under Item 404(a) of Regulation S-K.
As the Chief Accounting Officer, it is contemplated that Mr. Padgett
will receive a base salary of $150,000 per year and be eligible to
receive a 20% first year cash bonus pro-rated from May 21, 2018 and
subject to certain performance requirements. It is also contemplated
that Mr. Padgett will also receive a grant of 750 shares of restricted
stock or restricted stock units that will vest over two years and after
one year of employment he will receive 1,000 shares of restricted stock
or restricted stock units that will vest over 3 years. He will also be
eligible to participate in standard Company benefit programs available
to similarly situated officers.
ITEM 9.01
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FINANCIAL STATEMENTS AND EXHIBITS
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The following exhibit is included herein:
99.1 Press release dated May 15, 2018.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as
amended, the Registrant has duly caused this report to be signed on its
behalf by the undersigned hereunto duly authorized.
DXP ENTERPRISES, INC.
(Registrant)
By:
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/s/Kent Yee
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Kent Yee
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Senior Vice President/Finance and Chief Financial Officer
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Dated: May 15, 2018
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