Source document
Loading sections…
Sections in this filing
Market for Equity / Stockholders
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. (b) Departure of Chief Financial Officer On October 14, 2026, Comtech Telecommunications Corp. (the “Company” or “Comtech”) announced that Michael Bondi will depart his role as the Company’s Chief Financial Officer following a transition period through the Company's filing of its quarterly report on Form 10-Q for the first quarter of fiscal year 2027. The Company appreciates Mr. Bondi’s contributions and wishes him well in his future endeavors. Mr. Bondi’s departure is amicable, and does not result from any disagreement with the Company on any matter relating to the Company’s operations, policies or practices, including any matter concerning the Company’s accounting, financial reporting, internal controls or disclosure. On October 14, 2026, the Company, its subsidiaries and Mr. Bondi entered into a Transition Agreement (the “Transition Agreement”). Pursuant to the Transition Agreement, to support an orderly transition, Mr. Bondi will continue to serve as Chief Financial Officer of the Company through and until the filing of the Company’s Quarterly Report on Form 10-Q for the first quarter of fiscal year 2027 (or such earlier date as mutually agreed by the parties in writing, the “Separation Date”), during which time he will continue to perform all duties of the role and assist in the transition to his successor. Effective as of the Separation Date, Mr. Bondi will resign from all officer, director, manager, and other employment positions with the Company and its subsidiaries and affiliates. Mr. Bondi’s departure is with the support and appreciation of the Company in connection with the anticipated closing of the definitive agreement the Company entered into to sell the majority of its Satellite and Space Communications business to an affiliate of Gilat Satellite Networks Ltd (the “S&S Transaction Agreement”) and the transition of its operations. In connection with his separation and consistent with an agreement, dated July 31, 2021, between Mr. Bondi and the Company (the“Agreement”), Mr. Bondi will receive his annual base salary through the Separation Date and a prorated annual cash bonus at target for fiscal year 2027 based on time served during fiscal year 2027 through the Separation Date, a lump sum ca