Cadre Holdings Reaches New Employment Agreements with Top Executives

Cadre Holdings, Inc., a Delaware-incorporated company specializing in orthopedic and surgical appliances with a market capitalization of $1.6 billion, has entered into new employment agreements with two of its top executives, as reported in a recent SEC filing. According to InvestingPro data, the company has maintained profitability over the last twelve months and currently trades near its 52-week high of $40.28. On Monday, the company disclosed that it has finalized terms with Brad Williams, who will continue as President, and Blaine Browers, who will maintain his role as Chief Financial Officer.

Both agreements commenced on January 24, 2025, and are set for a three-year term, with provisions for earlier termination under certain conditions. Williams will receive an annual base salary of $625,000, while Browers' salary is set at $525,000. In addition to their base salaries, both executives are eligible for performance bonuses up to 150% and 130% of their respective base salaries, as well as participation in incentive plans, including stock options and restricted stock awards. The company's strong financial position is evident in its healthy current ratio of 3.01, indicating robust liquidity to meet short-term obligations.

The agreements include standard clauses such as confidentiality and non-competition, and outline the executives' entitlements in various termination scenarios. For instance, in the event of termination without cause or within 30 days following a change in control, both Williams and Browers would be entitled to one year's base salary and immediate vesting of unvested stock options and restricted stock, subject to certain conditions.

The SEC filing also details the repercussions for non-compliance with the agreements' terms, including repayment of the base salary in specific instances of breach. Additionally, these agreements are designed to comply with relevant sections of the Internal Revenue Code, including provisions related to excise tax and deferred compensation.

This announcement comes as part of Cadre Holdings' regular corporate governance and is based on the company's recent SEC filing. The detailed terms of these employment agreements reflect the company's commitment to retaining its leadership team and aligning executive compensation with performance and shareholder interests. InvestingPro subscribers can access comprehensive analysis of Cadre Holdings' valuation metrics, including its P/E ratio of 40.46, along with 10+ additional ProTips and detailed financial health scores in the Pro Research Report, helping investors make informed decisions about the company's future prospects.

In other recent news, Cadre Holdings has reported several noteworthy developments. The company has raised its quarterly dividend by approximately 9%, reflecting its confidence in the robust fundamentals of its business and its commitment to providing shareholder value. The firm has also announced its third quarter 2024 financial results, which provide insights into its performance and future expectations.

Further, Cadre Holdings has appointed Mr. Gianmaria Delzanno as a new independent director and board member, following the resignation of Mr. Nicholas Sokolow. Delzanno brings over four decades of experience in finance, with expertise in mergers and acquisitions, corporate financing, and equity offerings. His appointment expands the company's board from five to six directors.

Additionally, Cadre Holdings' board of directors has approved the Second Amended and Restated Bylaws, which took effect immediately. These revisions include updated advance notice requirements for stockholder proposals and director nominations, changes to the rules regarding stockholder lists for meetings, and adjustments to the formation of board committees. These developments are part of Cadre Holdings' ongoing governance and leadership strategy.

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