Brief: Mistras Group Named Executives Voluntarily Take Temporary Salary Cuts

Mistras

06/04/2020 22:49

April 6 (Reuters) - Mistras Group Inc  MG.N :
    * AS A RESULT OF COVID-19, ALL NAMED EXECUTIVE OFFICERS OF
CO HAVE
VOLUNTARILY TAKEN TEMPORARY SALARY REDUCTIONS RANGING FROM 25%
TO 45% OF BASE SALARY
    * DENNIS BERTOLOTTI, PRESIDENT AND CEO OF CO TO REDUCE HIS
BASE
SALARY BY 45% - SEC FILING
    * EDWARD PRAJZNER, EXECUTIVE VICE PRESIDENT AND CFO OF CO TO
REDUCE BASE SALARY BY 25%
    * SOTIRIOS VAHAVIOLOS, EXECUTIVE CHAIRMAN OF CO TO REDUCE
BASE
SALARY BY 35%
    * IN ADDITION, CO INSTITUTED REDUCTION FOR ITS OTHER
SALARIED
EMPLOYEES, AT LOWER PERCENTAGES
    * IN ADDITION, CO SUSPENDED CO'S VOLUNTARY MATCH UNDER CO'S
SPONSORED SAVINGS PLANS FOR ITS U.S. AND CANADIAN EMPLOYEES
    * REDUCTIONS ARE FOR THE SECOND QUARTER OF 2020
    * CO'S NON-EMPLOYEE DIRECTORS VOLUNTARILY AGREED TO $3,750
REDUCTION IN THEIR SECOND QUARTER 2020 PAYMENT

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