Forgent Power Solutions appoints Amy Ard CFO
Forgent expects to enter an agreement with Ard providing for a five-year initial term and a $500,000 target one-time equity award.
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Rhea-AI Filing Summary
Forgent Power Solutions, Inc. (FPS) appointed Amy Ard chief financial officer effective October 21, 2026, succeeding Ryan Fiedler, who stepped down that day. Fiedler will remain employed to assist with the transition and depart effective October 30, 2026; the company announced he will move to an external consulting role.
Forgent expects an employment agreement with Ard to provide for an initial five-year term with automatic one-year renewals, a $550,000 annual base salary, and eligibility for an annual cash bonus of up to 85% of base salary. A one-time equity grant with a target aggregate grant date value of $500,000 is scheduled for November 1, 2026, split 50% restricted stock units and 50% stock options. Fiedler’s unvested incentive units remain outstanding and vest under their terms, with payouts capped by the reserve amount attributable to those units as of October 21, 2026, subject to the separation agreement.
Filing Explained
Instead of the severance payments and benefits under his employment agreement, Fiedler is to receive salary earned but unpaid through
8-K Event Classification
Key Figures
Key Terms
incentive units financial
restricted stock units financial
stock options financial
Change in Control financial
target aggregate grant date value financial
FAQ
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Who is the new CFO of FPS?
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
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Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Departure of Chief Financial Officer
On October 21, 2026 (the “Effective Date”), Forgent Power Solutions, Inc. (the “Company”) and Ryan Fiedler, the Company’s Chief Financial Officer, agreed that Mr. Fiedler will step down as the Company’s CFO effective as of the Effective Date. Pursuant to a Separation and Release Agreement, dated as of the Effective Date, between the Company, Mr. Fiedler and certain other parties thereto (the “Separation Agreement”), Mr. Fiedler will remain employed by the Company to assist with the transition in the position and will depart from the Company effective as of October 30, 2026 (the “Separation Date”).
The Separation Agreement provides, among other things, that in lieu of the severance payments and benefits provided under Mr. Fiedler’s Amended and Restated Employment Agreement with the Company, dated as of January 12, 2026, in connection with his departure from the Company, Mr. Fiedler will receive all base salary earned but unpaid through the Separation Date and a lump sum payment for any vacation time accrued and unused through the Separation Date (to the extent payable under the Company’s applicable written policies). Additionally, Mr. Fiedler’s currently outstanding unvested incentive units of Forgent Parent I LP, Forgent Parent II LP, and Forgent Parent III LP (“PIUs”) will remain outstanding and vest in accordance with their terms with the payout from such funds in respect of the PIUs not to exceed the balance of the reserve amount attributable to the PIUs as of the Effective Date subject to the terms of the Separation Agreement. The foregoing description is qualified in its entirety by the Separation Agreement, a copy of which is filed as Exhibit 10.1 and incorporated herein by reference.
Appointment of New Chief Financial Officer
On October 21, 2026, Ms. Amy Ard, age 52, was appointed as the Company’s Chief Financial Officer, effective as of the same date. Ms. Ard served as the Company’s Executive Vice President, Finance since January 2026. From October 2023 to December 2025, Ms. Ard served as Interim Chief Financial Officer of PwrQ, now a subsidiary of the Company, and in related advisory roles. From February 2023 to October 2023, Ms. Ard served as the Interim Chief Financial Officer of Powin Energy Corporation, a provider of energy storage solutions, from December 2021 to November 2022, she served as the Chief Financial Officer of Tonal Systems, Inc., which develops fitness technology solutions, and from May 2017 to November 2021, she served as Chief Financial Officer of Proterra Inc., an electric vehicle and powertrain manufacturer. Mr. Ard holds a bachelor’s degree in accountancy and a Master of Business Administration from Villanova University.
The Company expects to enter into an employment agreement with Ms. Ard (the “Ard Employment Agreement”), for an initial term of five years subject to automatic one-year renewal periods. Pursuant to the Ard Employment Agreement, Ms. Ard will receive a base salary of $550,000 per year, will be eligible to earn an annual cash bonus up to 85% of base salary (as adjusted from time to time) based on the achievement of corporate performance goals, as determined by the Board or Compensation Committee, as applicable, and will be eligible to receive an annual equity grant issued pursuant to the Company’s 2026 Equity Incentive Plan (as may be amended, the “Plan”). Future annual equity grants shall be made at the same time and on the same schedule as annual equity grants are made to other similarly situated senior executives of the Company. In addition, Ms. Ard will receive a one-time equity grant with a target aggregate grant date value of $500,000 to be granted under the Plan on November 1, 2026, comprised of 50% restricted stock units (“RSUs”) and 50% stock options. Pursuant to the Ard Employment Agreement, the vesting of such RSUs and stock options, and the treatment of such RSUs and stock options as well as other payments or benefits to which Ms. Ard is entitled in connection with her termination from the Company, including following a Change in Control (as defined in the Plan), will be governed by the terms of the Plan and the applicable award agreements as well as the terms of the Ard Employment Agreement.
Item 7.01 Regulation FD.
On October 22, 2026, the Company issued a press release relating the Company’s CFO transition. A copy of this press release is being furnished as Exhibit 99.1 to this Current Report on Form 8-K. Exhibit 99.1 shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) or otherwise subject to the liabilities under that Section and shall not be deemed to be incorporated by reference into any filing of the Company under the Securities Act of 1933, as amended, or the Exchange Act.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits:
| Exhibit No. |
Description | |
| 10.1 | Separation and Release Agreement, dated as of October 21, 2026, by and between the Company and Ryan Fiedler. | |
| 99.1 | Press Release. | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). | |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed by the undersigned hereunto duly authorized.
| Forgent Power Solutions, Inc. | ||||||
| Date: October 22, 2026 | ||||||
| By: | /s/ Tyson K. Hottinger | |||||
| Name: | Tyson K. Hottinger | |||||
| Title: | Chief Legal Officer | |||||
Exhibit 99.1
FORGENT ANNOUNCES CFO TRANSITION
| • | Amy Ard, current Executive Vice President of Finance, named Chief Financial Officer |
| • | Ryan Fiedler will transition from his current role to an external consultant |
DAYTON, Minn. – October 22, 2026 – Forgent Power Solutions Inc. (“Forgent” or the “Company”) (NYSE: FPS), a leading designer and manufacturer of electrical distribution equipment, today announced that Ryan Fiedler will step down as Chief Financial Officer and transition to an external consulting role, enabling him to spend more time with his family while continuing to support Forgent. The Company’s Board of Directors has appointed Amy Ard, Forgent’s Executive Vice President of Finance, to succeed Mr. Fiedler.
During his tenure, Mr. Fiedler strengthened the Company’s finance organization and helped lead Forgent through its initial public offering and a record fiscal 2026. Mr. Fiedler will work closely with Ms. Ard in the coming weeks to support an orderly transition.
“I’m incredibly proud of the success that Forgent has achieved and of the finance organization that we built at Forgent,” said Ryan Fiedler. “The Forgent finance team is one of the most talented I have worked with over my career, and they are well equipped to support the Company in its next chapter of growth. I am looking forward to spending more time with my family in the coming months,” added Mr. Fiedler.
Ms. Ard has served as the Company’s Executive Vice President of Finance since January, where she has had responsibility for the Company’s financial planning, reporting, treasury and operational finance functions. She has been part of Forgent’s leadership team since the Company’s founding and played a central role in its initial public offering, including helping to establish the financial and governance processes required for a public company. Ms. Ard has more than 25 years of senior finance and accounting experience across public and private companies. She began her career in public accounting at PricewaterhouseCoopers.
“On behalf of the entire Forgent team, I want to thank Ryan for his leadership and many contributions to building our finance organization,” said Gary Niederpruem, Chief Executive Officer of Forgent. “I am also pleased to have Amy as our next Chief Financial Officer. Her extensive operational finance experience has been invaluable in supporting Forgent’s growth, and I am confident she is the right financial leader to guide the Company through its next phase of value creation,” concluded Mr. Niederpruem.
About Forgent Power Solutions
Forgent (NYSE: FPS) is a leading U.S. designer and manufacturer of electrical distribution equipment used in data centers, the power grid and energy-intensive industrial facilities. The Company specializes in manufacturing custom products that are “engineered-to-order” for technically demanding applications. We believe Forgent is one of a small number of companies that can manufacture all of the electrical distribution equipment required for a data center or large manufacturing facility’s powertrain with some of the highest levels of customization and shortest lead times available in the industry. For more information about Forgent, please visit us at forgentpower.com.
Investor Contact
Kate Africk - Investor Relations, VP
kate.africk@forgentpower.com
Media Contact
media@forgentpower.com