Parsons CFO Matt Ofilos to resign November 6
George Ball's $2,400,000 restricted stock unit award vests on its one-year anniversary, with final vested units subject to pro-ration for his actual service period.
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Rhea-AI Filing Summary
Parsons Corporation (PSN) announced that Chief Financial Officer Matt Ofilos will resign effective November 6, 2026, to pursue another professional opportunity; the company said his resignation does not result from a disagreement over its operations, policies or practices. The board appointed George Ball, a current director and former CFO, as Interim CFO effective the same day. Ball served as CFO from 2008 to 2022 and joined the board in 2022. For his interim service, Ball will receive a $2,400,000 restricted stock unit award that vests on its one-year anniversary, with the final number of vested RSUs subject to pro-ration based on his actual service period during the year. He will receive no additional cash or equity compensation for board service while Interim CFO. The board is conducting a thorough search for a permanent successor.
8-K Event Classification
Key Figures
Key Terms
restricted stock units financial
pro-ration financial
adjusted EBITDA financial
operating cash flow guidance range financial
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
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If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
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 23, 2026, Matt Ofilos, the Chief Financial Officer (“CFO”) of Parsons Corporation (the “Corporation”), notified the Corporation of his decision to resign from his position as Chief Financial Officer, effective November 6, 2026, to pursue another professional opportunity. Mr. Ofilos’ resignation is not the result of any disagreement with the Corporation on any matter relating to the Corporation’s operations, policies or practices.
Appointment of Interim Chief Financial Officer
On October 26, 2026, the Corporation’s board of directors appointed George Ball as the Corporation’s Interim CFO, effective November 6, 2026. Mr. Ball will continue to serve as a member of the board of directors following his appointment as Interim CFO.
Mr. Ball joined the Corporation’s board of directors in 2022 following his tenure as the Corporation’s CFO from 2008 to 2022. Biographical information regarding Mr. Ball is set forth in the Corporation’s 2026 proxy statement filed with the Securities and Exchange Commission on March 2, 2026, and such information is incorporated by reference herein. Mr. Ball does not serve on any of the committees of the board of directors of the Corporation.
As consideration for his service as Interim CFO, Mr. Ball will receive a $2,400,000 award of restricted stock units (“RSUs”) that will vest on the one-year anniversary of the award, with the final number of vested RSUs subject to pro-ration based on Mr. Ball’s actual service period as Interim CFO during the one-year vesting period. While serving as Interim CFO, Mr. Ball will continue to serve as a member of the board of directors but will not receive any additional cash or equity compensation for such service.
A copy of the Corporation’s press release regarding the CFO transition and the appointment of Mr. Ball as the Corporation’s Interim CFO is being furnished as Exhibit 99.1 to this Current Report on Form 8-K.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits:
The following exhibit is furnished as part of this Report pursuant to Item 7.01.
99.1 Press Release Dated October 28, 2026
104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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Parsons Corporation |
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October 28, 2026 |
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/s/ John T. Martinez |
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John T. Martinez |
Media Contact:
Bernadette Miller
+1 980.253.9781
bernadette.miller@parsons.com
Investor Relations Contact:
Dave Spille
+1 703.775.6191
Dave.Spille@parsons.us
Parsons Announces Chief Financial Officer Transition
CHANTILLY, Va. (October 28, 2026) – Parsons Corporation (NYSE: PSN) today announced that Matt Ofilos will resign as Executive Vice President and Chief Financial Officer, effective November 6, 2026, to pursue another professional opportunity. Ofilos’ resignation is not the result of any disagreement with the company on any matter relating to the company’s operations, policies, or practices.
The company’s Board of Directors has appointed George Ball, Parsons’ former Chief Financial Officer and a current member of the Board of Directors, to serve as Interim Chief Financial Officer, effective November 6, 2026. This appointment provides continuity in the company’s financial leadership while the Board of Directors conducts a thorough search for a permanent successor.
“I want to thank Matt for his leadership, partnership, and financial stewardship over the past five years,” said Carey Smith, Chair, President, and Chief Executive Officer of Parsons Corporation. “During his tenure, Parsons grew revenue and profitability and advanced its growth strategy. We wish Matt continued success in his next chapter. We are pleased to welcome George back as Interim Chief Financial Officer. George’s deep understanding of Parsons, our customers, employees, and strategic priorities will support an orderly transition as we remain focused on disciplined execution and delivering on our corporate strategy.”
Ball served as Parsons’ Chief Financial Officer from 2008 to 2022 and joined the company’s Board following his retirement as Chief Financial Officer. During his tenure as Chief Financial Officer, he played an integral role in guiding the transformation of the company and helped lead Parsons’ initial public offering in 2019. He joined Parsons in 1995 and held multiple financial and operational leadership positions with global responsibilities before becoming Chief Financial Officer. He has also served on the boards of multiple public and nonprofit organizations.
In its third-quarter 2026 earnings release issued earlier today, the company reported strong third-quarter results, reaffirmed the midpoint and narrowed its fiscal year 2026 revenue and adjusted EBITDA guidance ranges, and reiterated its operating cash flow guidance range.
For additional information, please refer to the company’s Current Report on Form 8-K filed today with the Securities and Exchange Commission under Item 5.02.
About Parsons:
Parsons (NYSE: PSN) is a leading disruptive technology provider in the national security and global infrastructure markets, with capabilities across cyber and electronic warfare, space and missile defense, transportation, water and environment, urban development, and critical infrastructure protection. Please visit Parsons.com and follow us on LinkedIn to learn how we’re making an impact.