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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
August 2, 2023
Date of Report (date of earliest event reported)
Steel Connect, Inc.
(Exact name of registrant as specified in its
charter)
Delaware |
|
001-35319 |
|
04-2921333 |
(State or other jurisdiction of
incorporation or organization) |
|
(Commission File Number) |
|
(I.R.S. Employer
Identification No.) |
590
Madison Avenue, 32nd Floor New York New York |
|
10022 |
(Address of Principal Executive Offices) |
|
(Zip Code) |
(212) 520-2300
Registrant’s telephone number, including
area code
Not Applicable
(Former name or former address, if changed since
last report.)
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 (see General
Instruction A.2. below):
☐ |
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)) |
Securities registered pursuant to Section 12(b) of the Act:
Title of each class |
|
Trading Symbol(s) |
|
Name of each exchange on which registered |
Common Stock, $0.01 par value |
|
STCN |
|
Nasdaq Capital Market |
Rights to Purchase Series D Junior Participating Preferred Stock |
|
-- |
|
Nasdaq Capital Market |
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. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
CFO Succession
On August 2, 2023, Jason Wong
notified the board of directors (the “Board”) of Steel Connect, Inc. (the “Company”) of his resignation from the
position of Chief Financial Officer (“CFO”) and Treasurer, effective August 4, 2023. Mr. Wong will be pursuing other opportunities
but will remain with the Company during a transition period. The Company thanks Mr. Wong for his contributions.
On August 2, 2023, the Board
appointed Ryan O’Herrin as CFO of the Company, effective August 7, 2023. Mr. O’Herrin, age 45, has served as Division Finance
Director of Eastman Chemical Company since 2022. Prior to that role, he served as Division CFO for Genus PLC from 2016 to 2022. Before
that, Mr. O’Herrin had a robust 13-year career with Weir Group, where his roles spanned IT, finance and strategy, culminating in
his last role as EVP of Strategy and Information Technology for the Minerals North America Region. Mr. O’Herrin graduated from the
Advanced Management Program of Harvard Business School in 2018, and holds a Bachelor of Science in Computer Science and a Master of Business
Administration from the University of Wisconsin – Madison.
There is no arrangement or
understanding between Mr. O’Herrin and any other persons pursuant to which he was selected as CFO, and there are no family relationships
between Mr. O’Herrin and any director, executive officer or person nominated or chosen by the Company to become a director or executive
officer. There are no transactions involving Mr. O’Herrin to be reported pursuant to Item 404(a) of Regulation S-K.
Mr. O’Herrin’s
services will be provided to us by our manager, Steel Services Ltd. (“Steel Services”), pursuant to the management services
agreement between the Company and Steel Services, dated June 14, 2019, as amended on October 27, 2022, and as such, Mr. O’Herrin
will not receive compensation directly from the Company for his service thereto. For information on Mr. O’Herrin’s compensation
paid by Steel Services, see the Current Report on Form 8-K filed by Steel Partners Holdings, L.P. (“Steel Holdings”) on August
7, 2023.
SIGNATURE
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.
Dated: August 7, 2023 |
Steel Connect, Inc. |
|
|
|
|
By: |
/s/ Maria Reda |
|
|
Name: |
Maria Reda |
|
|
Title: |
General Counsel |
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Entity Registrant Name |
Steel Connect, Inc.
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Entity Central Index Key |
0000914712
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Entity Tax Identification Number |
04-2921333
|
Entity Incorporation, State or Country Code |
DE
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Entity Address, Address Line One |
590
Madison Avenue
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Entity Address, Address Line Two |
32nd Floor
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Entity Address, City or Town |
New York
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NY
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10022
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Rights to Purchase Series D Junior Participating Preferred Stock |
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