CitroTech appoints Michael Feigin to board
CitroTech Inc. reported that directors Theodore Ralston and Jeffery Pomerantz resigned from its board on June 12, 2026, with the company stating their departures did not arise from any dispute with management or the board.
Rhea-AI Filing Summary
CitroTech Inc. reported that directors Theodore Ralston and Jeffery Pomerantz resigned from its board on June 12, 2026, with the company stating their departures did not arise from any dispute with management or the board.
On June 17, 2026, the board appointed Michael Feigin, a 66-year-old executive with more than 35 years of construction and real estate leadership experience, to fill one of the two vacancies. He joins the audit and compensation committees and will chair the nominating and corporate governance committee, receiving standard non‑executive director compensation.
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8-K Event Classification
Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers
1 item
Item 5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers
Governance
Key personnel changes including departures, elections, or appointments of directors and executive officers.
Key Figures
Director resignations effective date: June 12, 2026
New director appointment date: June 17, 2026
New director age: 66 years
+2 more
5 metrics
Director resignations effective date
June 12, 2026
Ralston and Pomerantz board resignations
New director appointment date
June 17, 2026
Board appointment of Michael Feigin
New director age
66 years
Age of Michael Feigin at appointment
Leadership experience
More than 35 years
Feigin’s experience in construction and real estate
Board vacancies created
Two seats
Vacancies following June 12, 2026 resignations
Key Terms
emerging growth company, board of directors, nominating and corporate governance committee, Regulation S-K, +2 more
6 terms
emerging growth company regulatory
"Emerging growth company"
An emerging growth company is a recently public or smaller public firm that qualifies for temporary, lighter regulatory and disclosure rules to reduce the cost and effort of being public. For investors, it means the company may provide less historical financial detail and face fewer reporting requirements than larger firms, so it can grow more quickly but also carries higher uncertainty—like buying a promising early-stage product with fewer user reviews.
board of directors financial
"their resignations from the Company’s board of directors"
The Board of Directors is a group of people chosen by a company's owners to help make big decisions and oversee how the company is run. They act like a team of advisors or managers, making sure the company stays on track and meets its goals. Their choices can influence the company's success and how it grows.
nominating and corporate governance committee financial
"upon the recommendation of the Board’s nominating and corporate governance committee"
A nominating and corporate governance committee is a group within a company's board of directors responsible for selecting and recommending individuals to serve as company leaders, such as directors or executives. They also develop and oversee policies to ensure the company is run fairly, ethically, and transparently. This committee matters to investors because it helps ensure the company is well-managed and guided by qualified, responsible leadership.
Regulation S-K regulatory
"requiring disclosure under Item 404(a) of Regulation S-K"
A set of U.S. Securities and Exchange Commission rules that tell public companies which narrative and qualitative details must be disclosed in filings, such as risk factors, management discussion, executive pay, legal proceedings and business description. Think of it as a standardized checklist or blueprint that ensures investors get the same types of background information from every company so they can compare risks, management quality and strategy before making investment decisions.
audit committee financial
"Mr. Feigin has been appointed to the Board’s audit committee"
A company's audit committee is a small group of board members who act like independent inspectors for the firm's finances, overseeing how financial reports are prepared, monitoring internal controls, and managing the relationship with external auditors. Investors care because a strong audit committee reduces the risk of accounting errors, fraud, or misleading statements, making financial statements more trustworthy and helping protect shareholder value.
compensation committee financial
"and compensation committee, and will serve as chairman"
A compensation committee is a group within a company's leadership responsible for setting and reviewing how much top executives and employees are paid, including salaries, bonuses, and benefits. It matters to investors because fair and effective pay decisions can influence a company's performance, leadership motivation, and overall governance, helping ensure that the company’s management is aligned with shareholders’ interests.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What board changes did CitroTech (CITR) disclose in this 8-K?
CitroTech disclosed that directors Theodore Ralston and Jeffery Pomerantz resigned from the board on June 12, 2026. The company simultaneously reported appointing Michael Feigin on June 17, 2026 to fill one of the two resulting vacancies and join key board committees.
Did CitroTech say the director resignations involved a dispute with management?
CitroTech stated that neither Theodore Ralston’s nor Jeffery Pomerantz’s resignation arose from or related to a dispute with management or the board. This language is commonly used to signal routine governance changes rather than a conflict-driven departure or disagreement over company direction.
Who is Michael Feigin, the new CitroTech (CITR) director?
Michael Feigin is a 66-year-old executive with more than 35 years of leadership experience in construction and real estate. His background includes senior roles at AvalonBay Communities and other major firms, plus board and advisory positions in both for-profit and non-profit organizations.
What board roles will Michael Feigin hold at CitroTech?
CitroTech appointed Michael Feigin to its audit and compensation committees and named him chairman of the nominating and corporate governance committee. These roles give him direct involvement in financial oversight, executive pay decisions, and board composition and governance policies at the company.
How will CitroTech compensate new director Michael Feigin?
CitroTech stated that Michael Feigin will receive compensation for board service under its existing non‑executive director compensation policy. The filing did not provide specific dollar amounts, emphasizing that his pay will follow the same framework applied to other non‑employee directors.
AI-generated analysis. How Rhea-AI works. Not financial advice.
