Star Equity Holdings Inc. filed SEC Form 8-K: Leadership Update, Financial Statements and Exhibits
$STRR
Biotechnology: Electromedical & Electrotherapeutic Apparatus
Health Care
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT
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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 7, 2025, the Board of Directors (the “Board”) of Star Equity Holdings, Inc. (the “Company”), on the recommendation of the Compensation Committee of the Board, approved the payment of annual incentive bonuses to the named executive officers of the Company listed below under the Company’s 2024 Executive Incentive Plan. The bonuses are payable partly in cash and partly in grants of restricted stock units (“RSUs”), in each case in the amounts set forth below. The number of RSUs to be granted to the named executives based on the approved stock award amount will be determined based on the closing price of the Company’s common stock on the second business day following the Company’s release of its financial results for the fiscal quarter and year ended December 31, 2024. When granted, the RSUs will be subject to vesting in equal annual installments over a three-year period. The bonus payments were determined based on a combination of factors, including the achievement of 2024 financial targets, including EBITDA and expense targets and other Board-approved objectives for each executive.
Executive Officer | Cash Bonus Amount | Stock Award Amount | ||||||
Richard K. Coleman Chief Financial Officer - Star Equity Holdings, Inc. | $114,033 | $34,210 | ||||||
David J. Noble Chief Financial Officer - Star Equity Holdings, Inc. | $90,248 | $27,075 | ||||||
In addition, on March 7, 2025, on the recommendation of the Compensation Committee of the Board, the Board approved the establishment of performance targets for named executive officers of the Company to be eligible to receive annual incentive bonuses in respect of the fiscal year ended December 31, 2025. The performance targets established by the Board are comprised of both objective and subjective targets.
Item 9.01. Financial Statements and Exhibits
(d) Exhibits:
| Exhibit No. | Description | |||||||
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) | |||||||
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.
| Star Equity Holdings, Inc. | |||||||||||
| By: | /s/ Richard K. Coleman, Jr. | ||||||||||
Richard K. Coleman, Jr. Chief Executive Officer | |||||||||||
Date: March 11, 2025