Monitor the say-on-pay vote outcome for shareholder sentiment on compensation. The CEO departure and SDC sale signal ongoing restructuring — watch for a permanent CEO appointment and any strategic pivot in upcoming 8-Ks.
Price Chart
Executive Summary
CVD Equipment Corp filed its definitive proxy statement for the 2026 Annual Meeting on November 5, 2026. The filing is largely routine — director elections, auditor ratification, and an advisory say-on-pay vote. Key developments include the departure of CEO Emmanuel Lakios on September 3, 2026 (with a nine-month severance), the sale of the SDC division on April 1, 2026, and continued net losses ($1.585M in 2025). No shareholder proposals or governance changes are on the ballot.
Key Facts
- Annual Meeting set for November 5, 2026, virtual-only; record date September 16, 2026
- Five director nominees: Lawrence J. Waldman, Andrew Africk, Robert M. Brill, Ashraf Lotfi, Debra Wasser — all incumbent and independent
- CEO Emmanuel Lakios mutually agreed to depart September 3, 2026; receives base salary and benefits through October 2, 2026, plus nine months of continued salary and medical benefits
- SDC business division sold to a third party on April 1, 2026; VP Kevin Collins ceased employment
- Net loss of $1.585 million in 2025 (improved from $1.898M loss in 2024 and $4.180M loss in 2023)
- Total shareholder return: $100 invested at end of 2022 was worth $83.74 at end of 2025
- No equity grants to named executive officers in 2025 or 2024
- No reportable related-party transactions in fiscal 2025
- Auditor CBIZ CPAs P.C. proposed for ratification; audit fees $237,300 in 2025
- Say-on-pay advisory vote on the ballot; last year's approval rate not disclosed
Financial Impact
Net loss of $1.585 million in 2025, improving from $1.898 million loss in 2024. CEO severance: nine months of $415,000 base salary plus benefits. No equity grants to NEOs in 2025 or 2024.
Risk Factors
- Continued net losses and declining shareholder returns ($100 invested in 2022 worth $83.74 by end of 2025)
- CEO transition creates leadership uncertainty; acting CEO Warren Cheesman has no prior CEO experience
- SDC division sale reduces revenue base; no replacement growth driver disclosed
Investment Themes
Documents Analyzed
This report is based on 4 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| DEF 14A Filing (Primary) | 0001493152-26-044302 |
| Document: 0001493152-26-044302-index-headers.html | 0001493152-26-044302 |
| Document: 0001493152-26-044302-index.html | 0001493152-26-044302 |
| Document: 0001493152-26-044302.txt | 0001493152-26-044302 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 25, 2026 4w ago | DEF 14A | $4.27 $3.88 | ▼ −9.13% | ▼ −9.10% | $4.05 (−5.15%) |
Aug 12, 2026 10w ago | 8-K | $7.51 $4.68 | ▲ +37.68% | ▲ +35.94% | $4.05 (+46.07%) |
May 14, 2026 23w ago | 8-K | $5.20 $6.81 | ▼ −30.96% | ▼ −28.84% | $4.05 (+22.12%) |
Apr 7, 2026 29w ago | 8-K | $3.95 $7.28 | ▲ +84.30% | ▲ +75.76% | $4.05 (+2.53%) |
US Market Status
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