Monitor the say-on-pay vote result for any sign of shareholder discontent given the sharp swing to a net loss. The next quarterly filing will show whether the revenue decline and loss trend continues.
Price Chart
Executive Summary
Pioneer Power Solutions filed its definitive proxy statement for the 2026 Annual Meeting scheduled for November 12, 2026. The filing is routine with no contested director elections, shareholder proposals, or governance changes. CEO Nathan Mazurek's total compensation fell sharply from $2.72M in 2024 (including a $2M bonus) to $687,500 in 2025, while the company reported a net loss of $5.999M in 2025 versus net income of $31.855M in 2024.
Key Facts
- Annual Meeting scheduled for November 12, 2026; record date September 18, 2026 with 11,099,266 shares outstanding
- Seven incumbent directors nominated for reelection: Nathan Mazurek, Thomas Klink, Yossi Cohn, Ian Ross, David Tesler, Jonathan Tulkoff, Kytchener Whyte
- CEO Nathan Mazurek 2025 total compensation: $687,500 (salary $675,500 + $12,000 board fees), down from $2,722,160 in 2024
- CFO Walter Michalec 2025 total compensation: $353,000 (salary $325,000 + bonus $28,000), down from $760,000 in 2024
- Company reported net loss of $5,999,000 in 2025 vs net income of $31,855,000 in 2024
- Board recommends FOR all director nominees, FOR ratification of BDO USA as auditor, FOR say-on-pay, and every three years for frequency of say-on-pay votes
- Related party transactions disclosed: $12,000 paid to Blue Mountain Industries (Kytchener Whyte's entity) and $12,000 to TDK Holdings (Thomas Klink's entity) for board meeting fees in 2025
- No shareholder proposals on the ballot
- Audit committee dismissed Marcum LLP and appointed BDO USA in November 2024; prior material weaknesses in internal controls disclosed
Financial Impact
CEO compensation decreased $2.03M YoY; company swung from $31.855M net income to $5.999M net loss
Risk Factors
- Net loss of $5.999M in 2025 versus net income of $31.855M in 2024 represents a significant deterioration
- Material weaknesses in internal controls over financial reporting were disclosed in prior filings and remain a concern
- CEO holds 19.5% of shares and also serves as Chairman, creating a combined leadership structure with no lead independent director
Investment Themes
Documents Analyzed
This report is based on 4 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| DEF 14A Filing (Primary) | 0001493152-26-043622 |
| Document: 0001493152-26-043622-index-headers.html | 0001493152-26-043622 |
| Document: 0001493152-26-043622-index.html | 0001493152-26-043622 |
| Document: 0001493152-26-043622.txt | 0001493152-26-043622 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 22, 2026 5w ago | DEFA14A | $3.41 $2.70 | ▼ −20.82% | ▼ −20.26% | $2.48 (−27.27%) |
Sep 22, 2026 5w ago | DEF 14A | $3.41 $2.70 | ▼ −20.82% | ▼ −20.26% | $2.48 (−27.27%) |
Sep 11, 2026 6w ago | EFFECT | $3.06 $3.08 | ▼ −0.49% | ▲ +1.38% | $2.48 (+18.95%) |
Aug 17, 2026 10w ago | 8-K | $2.94 $3.02 | ▲ +2.72% | ▲ +4.70% | $2.48 (−15.65%) |
May 18, 2026 23w ago | 8-K | $4.02 $4.39 | ▲ +9.20% | ▲ +7.62% | $2.48 (−38.31%) |
May 18, 2026 23w ago | 8-K | $4.02 $4.39 | ▲ +9.20% | ▲ +7.62% | $2.48 (−38.31%) |
Apr 8, 2026 28w ago | 8-K | $2.50 $4.34 | ▲ +73.60% | ▲ +66.03% | $2.48 (−0.80%) |
US Market Status
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