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IIIN Insteel Industries

Filed: 22 Dec 20, 3:00pm
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): December 21, 2020
 
 
Commission File Number 1-9929
 
Insteel Industries, Inc.
(Exact name of registrant as specified in its charter)
 
 
North Carolina
(State or other jurisdiction of
incorporation or organization)
 
56-0674867
(I.R.S. Employer
Identification No.)
   
1373 Boggs Drive, Mount Airy, North Carolina
(Address of principal executive offices)
 
27030
(Zip Code)
 
Registrant’s telephone number, including area code: (336) 786-2141
 
 
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))
 
Securities registered subject to Section 12(b) of the Exchange Act:
 
Title of Each ClassTrading Symbol(s)Name of Each Exchange on Which Registered
Common Stock (No Par Value)IIINThe Nasdaq Stock Market LLC
  (Nasdaq Global Select Market)
 
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 or Rule 12b-2 of the Securities Exchange Act of 1934.
 
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
 
On December 21, 2020, the Executive Compensation Committee of the Board of Directors of Insteel Industries Inc. (the “Company”) took action to increase the annual base salaries of certain of the Company’s executive officers.
 
The increases in annual base salaries, which will be effective December 28, 2020, are shown below:
 
 
Name and Position Current Annual Base Salary New Annual Base Salary
H.O. Woltz III $635,000 $675,000
President and Chief Executive Officer    
     
     
     
     
James F. Petelle $225,000 $250,000
Vice President – Administration, Secretary and Chief Legal Officer    
     
Richard T. Wagner $330,000 $350,000
Senior Vice President and Chief Operating Officer    
     
 
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 thereunto duly authorized.
 
 
 INSTEEL INDUSTRIES INC.
  Registrant
 
 
 
Date: December 22, 2020By:
 /S/  James F. Petelle
  James F. Petelle
Vice President Administration, Secretary
    and Chief Legal Officer