NV5 amends executive employment agreements

On Monday, NV5 Global, Inc., a provider of professional and technical engineering and consulting solutions, announced amendments to the employment agreements of three key executives. The company, listed on the NASDAQ under the ticker (NASDAQ:NVEE), introduced "good leaver" provisions for Richard Tong, MaryJo O’Brien, and Edward Codispoti, effective as of May 14, 2025.

The "good leaver" clauses are designed to apply in the event of termination under certain conditions. This move modifies the existing contracts of the executives, aiming to align the terms with current corporate governance practices.

The details of the amendments were not disclosed in full, but the company has made the forms of such amendments available as exhibits to the SEC filing. These documents provide the complete terms of the adjustments to the employment agreements.

NV5 Global, Inc., headquartered in Hollywood, Florida, operates within the miscellaneous business services sector. The company’s primary focus is on technical engineering and consulting services, which include infrastructure, utility services, construction, and environmental solutions.

The information contained in this article is based on the company’s recent SEC filing and is intended to inform stakeholders of the latest corporate governance developments at NV5 Global, Inc.

In other recent news, NV5 Holdings announced a definitive agreement to merge with Acuren Corporation in a deal valued at $1.7 billion. This merger aims to create a comprehensive global Testing, Inspection, Certification, and Compliance firm with a projected EBITDA of $350 million for 2024. As part of the merger process, NV5 has a 60-day go-shop period to explore alternative acquisition proposals. Meanwhile, William Blair analysts downgraded NV5 from Outperform to Market Perform, reflecting a neutral outlook on the company’s shares post-merger announcement.

Acuren Corporation reported first-quarter 2025 revenue of $234.2 million, exceeding analyst expectations and marking a 5% year-over-year increase. Despite the revenue growth, Acuren posted a net loss of $25.9 million for the quarter. The company’s adjusted EBITDA was $25.9 million with a margin of 11%, down from the previous year due to increased public company costs. Acuren’s CEO highlighted the company’s revenue growth and reiterated its full-year 2025 guidance, expecting revenue growth in the low-to-mid-single digit percentage range compared to 2024.

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