Power Solutions International, Inc. filings document Nasdaq-listed common stock and Form 8-K disclosures for an operating company focused on emission-certified engines and power systems. Recent records include Regulation FD releases for quarterly and annual financial results, business outlook commentary, and a completed acquisition adding fabricated steel components, switchgear subbases, electrical enclosure assemblies and fuel tanks for power generation products.
The company’s material-event filings also record governance and compensation matters, including officer appointments, board and committee changes, stockholder-designee directors and a cash-settled phantom unit plan tied to the market value of common stock. These disclosures frame capital structure, executive-compensation obligations, public communications and risk statements around PSI’s manufacturing and power-systems business.
Power Solutions International, Inc. announced that Constantine “Dino” Xykis resigned as Chief Executive Officer and from all other positions on May 12, 2026. He had served as CEO since April 24, 2023.
Under a Resignation Agreement, Xykis will receive his previously earned 2025 Key Performance Indicator bonus of $945,611.91 and the remaining portion of his 2025 Long-Term Incentive bonus of $312,462.09, both approved by the Board’s Compensation Committee. He will also receive cash settlement for the full deemed exercise of 28,334 vested stock appreciation rights and partial reimbursement of COBRA health premiums for up to twelve months, subject to standard conditions and a general release of claims.
The Board appointed Chief Financial Officer Xun (“Kenneth”) Li as Interim Chief Executive Officer, while he continues as CFO. Li will initially keep his existing CFO compensation, and the Board’s Nominating and Corporate Governance Committee is continuing its search for a permanent CEO.
Power Solutions International, Inc. reported a weaker first quarter of 2026 compared with 2025. Net sales were $128.6 million, down 5% year over year, as lower power systems revenue, especially in oil and gas and uneven data center orders, outweighed growth in industrial and transportation markets.
Net income fell to $7.3 million from $19.1 million, with diluted EPS dropping to $0.32 from $0.83. Gross margin declined to 22.9% from 29.7% due to mix and elevated production costs from capacity ramp-up in Wisconsin, although margins improved sequentially from the fourth quarter of 2025.
Adjusted EBITDA decreased to $13.9 million from $26.1 million. Cash and cash equivalents rose to $45.1 million, and total debt increased to $103.4 million as of March 31, 2026. The company expects second-quarter 2026 revenue to be generally consistent with the first quarter and anticipates stronger sales in the second half, roughly in line with the second half of 2025, driven by larger Power Systems orders, while noting continued softness in oil and gas and ongoing ramp-up costs.
Power Solutions International, Inc. files an amended annual report to add 2025 Part III information on directors, executive compensation, ownership and related‑party dealings. Weichai and its affiliates beneficially own about 46% of common stock, and the company qualifies as a Nasdaq “controlled company.”
Named executive officers’ 2025 cash and incentive pay is detailed, including a $2.43 million total package for CEO C. (Dino) Xykis. Under the 2025 KPI plan, company performance drove payouts at approximately 288.6% of target, based on revenue of $704.7 million and pre‑tax income of $103.4 million used for plan metrics.
The filing describes extensive governance policies, including an insider trading policy, a clawback policy aligned with Section 10D and Nasdaq Rule 5608, and independence determinations for non‑Weichai directors. It also highlights the 2012 equity plan, a new 2026 Phantom Unit Plan, and summarizes Weichai‑related loans, supply and collaboration agreements, many of which now have defined expirations or have been repaid.
Li Xun reported acquisition or exercise transactions in this Form 4 filing.
POWER SOLUTIONS INTERNATIONAL, INC. granted its CFO, Li Xun, 1,665 Phantom Stock units as compensation. These Phantom Units are cash-settled and track the average Fair Market Value of the company’s common stock over the 30 trading days before each vesting date.
One-third of the 1,665 Phantom Units will vest on each of March 6, 2027, March 6, 2028, and March 6, 2029, contingent on Li Xun’s continued service. The award does not provide any actual shares of common stock or voting rights, only a future cash payment based on share value.
Du Zhaoying reported acquisition or exercise transactions in this Form 4 filing.
Power Solutions International, Inc. reported that its General Counsel and Corporate Secretary, Du Zhaoying, received a grant of 1,492 Phantom Stock units on March 6, 2026. These Phantom Units are cash-settled awards tied to the average Fair Market Value of the company’s common stock over the 30 trading days before each vesting date.
One-third of the Phantom Units vest on each of March 6, 2027, March 6, 2028, and March 6, 2029, subject to continued service. The award does not provide any actual shares of common stock or voting rights, and 1,492 Phantom Units were reported as held after this grant.
Power Solutions International, Inc. furnished an update from two March 11, 2026 investor calls after an unauthorized X post shared a purported transcript; the company disclaimed that post and provided its own Q&A summary.
Management reported Q4 2025 gross margin of 21.9% due to ramp-up inefficiencies in Wisconsin but expects improvement in 2026, with a long-term focus on opportunities that can support gross margins around 25%. They highlighted strong data center demand for enclosure products, expanding vertically integrated capacity in Wisconsin, including the MTL acquisition and an approximately 850,000 sq ft footprint. The team described steady 2026 growth expectations, continued reliance on Weichai engines, and a new phantom stock plan tied to PSI’s share price with three-year vesting and cash settlement.
Power Solutions International, Inc. approved a new 2026 Phantom Unit Plan to provide cash-based incentives linked to its common stock price. The plan grants cash-settled “Phantom Units,” each representing an unfunded obligation to pay cash equal to the average share price over the 30 trading days before vesting.
Phantom Units are not actual equity, have no voting rights, and do not receive dividends. Awards typically vest in three equal annual installments, with accelerated vesting upon death, disability, or certain change-in-control events. Vested units are paid in a lump-sum cash payment within 60 days after each vesting date and are subject to the company’s clawback policies.
Power Solutions International reported record full-year 2025 results with net sales of $722.4 million, up 52% from 2024, and net income of $114.0 million, up 65%. Diluted earnings per share rose to $4.94 from $3.01, helped by a $38.3 million valuation allowance release that added $1.66 per share.
Fourth-quarter 2025 sales grew 33% to $191.2 million, but quarterly net income fell 31% to $16.1 million as gross margin declined to 21.9% from 29.9% due to production ramp-up inefficiencies in data center product lines and a higher effective tax rate. Full-year operating income increased 34% to $109.7 million, and Adjusted EBITDA rose 41% to $116.3 million.
Cash and cash equivalents were $41.3 million and total debt $96.6 million at December 31, 2025, compared with $55.3 million cash and $120.2 million debt a year earlier. The company completed the acquisition of MTL Manufacturing & Equipment to support vertically integrated capacity for data center markets and expects continued 2026 sales growth with moderate margin improvement.
Power Solutions International reported record full-year 2025 results with net sales of $722.4 million, up 52% from 2024, and net income of $114.0 million, up 65%. Diluted earnings per share rose to $4.94 from $3.01, helped by a $38.3 million valuation allowance release that added $1.66 per share.
Fourth-quarter 2025 sales grew 33% to $191.2 million, but quarterly net income fell 31% to $16.1 million as gross margin declined to 21.9% from 29.9% due to production ramp-up inefficiencies in data center product lines and a higher effective tax rate. Full-year operating income increased 34% to $109.7 million, and Adjusted EBITDA rose 41% to $116.3 million.
Cash and cash equivalents were $41.3 million and total debt $96.6 million at December 31, 2025, compared with $55.3 million cash and $120.2 million debt a year earlier. The company completed the acquisition of MTL Manufacturing & Equipment to support vertically integrated capacity for data center markets and expects continued 2026 sales growth with moderate margin improvement.
Power Solutions International, Inc. describes its 2025 business profile as a single-segment designer and manufacturer of emission-certified engines and power systems using natural gas, propane, biofuels, gasoline and diesel for power generation, industrial and transportation markets. About 74% of engines sold in 2025 ran on propane or natural gas.
The company highlights strategic initiatives around higher-margin heavy-duty engines, aftermarket parts, global expansion and leveraging its collaboration with Weichai, which owns 46.0% of its common stock. Net research, development and engineering spending was $18.2 million in 2025.
Key risks include tariffs and UFLPA-related supply-chain disruptions, $96.6 million of debt at December 31, 2025, exposure to oil and gas markets with $193.9 million of 2025 sales to that sector, Weichai’s control and U.S.–China tensions, liquidity pressures in a capital-intensive business, and cybersecurity, AI, regulatory, environmental and human-capital challenges.
Power Solutions International, Inc. describes its 2025 business profile as a single-segment designer and manufacturer of emission-certified engines and power systems using natural gas, propane, biofuels, gasoline and diesel for power generation, industrial and transportation markets. About 74% of engines sold in 2025 ran on propane or natural gas.
The company highlights strategic initiatives around higher-margin heavy-duty engines, aftermarket parts, global expansion and leveraging its collaboration with Weichai, which owns 46.0% of its common stock. Net research, development and engineering spending was $18.2 million in 2025.
Key risks include tariffs and UFLPA-related supply-chain disruptions, $96.6 million of debt at December 31, 2025, exposure to oil and gas markets with $193.9 million of 2025 sales to that sector, Weichai’s control and U.S.–China tensions, liquidity pressures in a capital-intensive business, and cybersecurity, AI, regulatory, environmental and human-capital challenges.