8-K - CSP Inc. | StockGist

AI Analysis

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CSP Inc. disclosed the resignation of Michael Newbanks as Vice President of Finance and Chief Accounting Officer effective May 15, 2026, with no disagreements, and appointed Eric Sachs as his successor on the same date. The Board also elected James J. LaBonty as a director effective March 12, 2026, to fill a vacancy.

Key Takeaways

1Michael Newbanks resigns as VP Finance and Chief Accounting Officer effective 2026-05-15 to spend time with family and pursue other opportunities.

2Eric Sachs appointed VP and Chief Accounting Officer effective 2026-05-15, starts 2026-03-23, with $195,000 base salary, 30% bonus eligibility, and 8,000 restricted stock units vesting over four years.

3James J. LaBonty elected director on 2026-03-10, accepted 2026-03-12, to serve on nominating and compensation committees.

4Newbanks to provide consulting services post-resignation.

5Sachs prior roles: Director of Finance at Trajector, Inc. (2021-2026) and Nicholas Financial, Inc. (2019-2021).

Current Report Details

Event Type

Management Change

Disclosure

Mandatory

Variant

8-K

Items Reported

5.02

Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. Resignation

Management Change

$195.0KCompany or the Board of Directors of the Company

Executive & Director Changes

Michael Newbanks

Vice President of Finance and Chief Accounting Officer

Resignation

Effective: 2026-05-15

to spend more time with his family and pursue other opportunities

Eric Sachs

Vice President and Chief Accounting Officer

Appointment

Effective: 2026-05-15

James J. LaBonty

Director

Election

Effective: 2026-03-12

Exhibits (1)

8-K