false 0000814676 0000814676 2024-12-03 2024-12-03
 
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 3, 2024
 
CPS TECHNOLOGIES CORP.
(Exact Name of Registrant as Specified in its Charter)
 
 
Delaware 0-16088 04-2832509
(State or other jurisdiction of  (Commission File Number) (IRS Employer
incorporation)   Identification No.)
         
 
111 South Worcester Street  
Norton, MA 02766
(Address of principal executive offices) (Zip Code)
 
Registrant’s telephone number, including area code: (508) 222-0614
 
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 Instructions 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, par value $0.01 per share CPSH 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.
 
On December 3, 2024, CPS Technologies Corp. (the Company”) appointed I. James Cavoli, 62, as a member of the Company’s Board of Directors.
 
Mr. Cavoli currently serves as President of Swagelok Company, a worldwide manufacturer of fluid system components and engineered assemblies. Mr. Cavoli was previously appointed Chief Operating Officer of Swagelok Company in 2020 and was subsequently appointed as President of Swagelok in 2021. Mr. Cavoli joined Swagelok in 2010 as Director, Strategic Sales, was appointed Vice President and Chief Financial Officer in 2014, and also served as Vice President, Distributor Support Services. Prior to joining Swagelok, Mr. Cavoli served as a captain in the U.S. Army, as a finance manager for Ford Motor Company, and as a general manager for Progressive Insurance. In 2004, Mr. Cavoli founded LS Insights, a national financial brokerage firm. Mr. Cavoli holds Bachelor of Science degrees in accounting and international management from Georgetown University and an M.B.A. from Harvard Business School.
 
Item 9.01         Financial Statements and Exhibits.
 
(d)                    Exhibits
 
Exhibit
Description
99.1
104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
 
 
 
 
 
SIGNATURE
 
Pursuant to the requirements of the Securities and Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 
CPS TECHNOLOGIES CORP.
Date: December 5, 2024
By:
/s/ Charles K. Griffith, Jr.
Name:
Charles K. Griffith, Jr.
Title:
Chief Financial Officer
 
 
 
 
 

 

 

FOR RELEASE: IMMEDIATE

 

 

CPS Technologies Announces the Appointment of James Cavoli to its Board of Directors

 

Norton, Massachusetts – December 4, 2024 – CPS Technologies Corp. (NASDAQ:CPSH) (“CPS” or the “Company”) today announced the appointment of I. James Cavoli to its Board of Directors. Jim currently serves as president of Swagelok Company, a worldwide manufacturer of fluid system components and engineered assemblies. Jim was appointed chief operating officer of Swagelok Company in 2020 and named president in 2021. During his tenure as president, Jim grew the company’s market cap by 75%. Prior to that he served as vice president, distributor support services. In 2010, Jim joined Swagelok Company as director, strategic sales and was named vice president and chief financial officer in 2014. Prior to joining Swagelok, Jim served as a captain in the U.S. Army, finance manager for Ford Motor Company, and general manager for Progressive Insurance. In 2004, he started LS Insights, a national financial brokerage firm. Jim holds Bachelor of Science degrees in accounting and international management from Georgetown University and an M.B.A. from Harvard Business School.

 

"We are delighted to welcome Jim to the Company's Board of Directors," said Frank Hughes, Chairman.  "Jim is a remarkable leader bringing a broad array of relevant skills and experiences that will help the board guide the company forward.  These include strategy, transformation, growth and international business, in functional areas including operations, finance, and marketing, for both large and small enterprises.  The fact that the Company was able to attract someone of Jim’s stature is an indication of our remarkable internal culture of innovation and of building people; it is also an indication of the future growth potential of CPS.”

 

About CPS

 

CPS is a technology and manufacturing leader in producing high-performance materials solutions for its customers. The company’s products and intellectual property address critical needs in a variety of applications, including electric trains and subway cars, wind turbines, hybrid vehicles, electric vehicles, Navy ships, the smart electric grid, 5G infrastructure and others. CPS hermetic packages can be found in many Aerospace and Satellite applications. CPS’ armor products provide exceptional ballistic protection and environmental durability at very light weight. CPS is committed to innovation and to supporting our customers in building solutions for the transition to clean energy.

 

Safe Harbor

Statements made in this document that are not historical facts or which apply prospectively, including those relating to 2024 and 2025 financial results, are forward-looking statements that involve risks and uncertainties. These forward-looking statements are identified by the use of terms and phrases such as "will," "intends," "believes," "expects," "plans," "anticipates" and similar expressions. Investors should not rely on forward-looking statements because they are subject to a variety of risks and uncertainties and other factors that could cause actual results to differ materially from the company's expectation. Additional information concerning risk factors is contained from time to time in the company's SEC filings, including its Annual Report on Form 10-K and other periodic reports filed with the SEC. Forward-looking statements contained in this press release speak only as of the date of this release. Subsequent events or circumstances occurring after such date may render these statements incomplete or out of date. The company expressly disclaims any obligation to update the information contained in this release.

 

CPS Technologies Corporation                                      
111 South Worcester Street
Norton, MA 02766

www.cpstechnologysolutions.com

 

Investor Relations:

Chris Witty

646-438-9385

cwitty@darrowir.com

 
v3.24.3
Document And Entity Information
Dec. 03, 2024
Document Information [Line Items]  
Entity, Registrant Name CPS TECHNOLOGIES CORP.
Document, Type 8-K
Document, Period End Date Dec. 03, 2024
Entity, Incorporation, State or Country Code DE
Entity, File Number 0-16088
Entity, Tax Identification Number 04-2832509
Entity, Address, Address Line One 111 South Worcester Street
Entity, Address, City or Town Norton
Entity, Address, State or Province MA
Entity, Address, Postal Zip Code 02766
City Area Code 508
Local Phone Number 222-0614
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Title of 12(b) Security Common Stock
Trading Symbol CPSH
Security Exchange Name NASDAQ
Entity, Emerging Growth Company false
Amendment Flag false
Entity, Central Index Key 0000814676
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