Filing Analysis
Optex Systems Holdings, Inc. filed an 8-K to announce the release of its financial results for the fiscal quarter ended June 28, 2026.
📋 Key Facts
- The filing relates to Item 2.02: Results of Operations and Financial Condition.
- Financial results are for the fiscal quarter ended June 28, 2026.
- A press release containing the financial results was issued on August 11, 2026 (Exhibit 99.1).
Optex Systems Holdings, Inc. entered into a Master Equipment Finance Loan and Security Agreement with Texas Capital Bank to finance the purchase of a $2.1 million high vacuum coating system. The agreement includes an initial interim loan of $246,783 that must be converted or repaid by January 10, 2027.
🚩 Red Flags
- The Bank is not obligated to provide the remaining funding for the $2.1 million purchase, creating potential liquidity/funding risk.
- Presence of cross-default and cross-collateralization provisions increases systemic risk across company assets.
- Strict financial covenants (Fixed Charge Coverage Ratio 1.25:1 and Leverage Ratio 3.00:1) may be difficult to maintain for a micro-cap entity.
📋 Key Facts
- Entered into Master Agreement and Interim Funding Addendum with Texas Capital Bank on July 14, 2026.
- First Interim Loan amount: $246,783 to cover the first installment of a ~$2.1 million coating system purchase.
- Interest rate for interim loan: SOFR (or base rate) + 2.75%, payable monthly.
- The interim loan must be repaid or converted into a term loan by January 10, 2027.
- Master Agreement includes cross-default and cross-collateralization provisions.
- Requires maintenance of a fixed charge coverage ratio ≥ 1.25:1 and total leverage ratio ≤ 3.00:1.
Optex Systems Holdings, Inc. has released an updated investor presentation via its website as part of a Regulation FD disclosure.
📋 Key Facts
- The company posted an updated investor presentation on its official investor relations webpage.
- The filing is made pursuant to Item 7.01 (Regulation FD Disclosure).
- Information provided under Item 7.01 is furnished but not 'filed' for purposes of Section 18 of the Exchange Act.
Optex Systems Holdings, Inc. announced that Chief Financial Officer and Secretary Karen Hawkins will resign effective December 31, 2026. The company has initiated a search for a replacement and may retain Ms. Hawkins as a consultant during the transition.
🚩 Red Flags
- Departure of a key financial officer (CFO) in a micro-cap company can create instability or perceived risk in financial reporting.
📋 Key Facts
- Karen Hawkins notified the company of her resignation on June 12, 2026.
- The resignation is effective December 31, 2026, upon the expiration of her current employment agreement.
- Ms. Hawkins holds the dual roles of Chief Financial Officer and Secretary.
- The company stated the resignation is for personal reasons and not due to disagreements or issues with accounting policies/practices.
Optex Systems Holdings, Inc. announced its financial results for the fiscal quarter ended March 29, 2026. The results were released via a press release on May 11, 2026, and furnished to the SEC under Item 2.02.
📋 Key Facts
- The filing reports financial results for the fiscal quarter ended March 29, 2026.
- The announcement was made on May 11, 2026.
- The company furnished a press release as Exhibit 99.1.
- The filing was made under Item 2.02 (Results of Operations and Financial Condition) and Item 9.01 (Financial Statements and Exhibits).
Optex Systems Holdings, Inc. reported the results of its 2026 annual meeting of shareholders held on March 9, 2026. Shareholders elected five directors and ratified the appointment of Whitley Penn LLP as the company's independent auditor for the fiscal year ending September 27, 2026.
📋 Key Facts
- The meeting was held on March 9, 2026, with a quorum of 5,814,286 shares (83.8% of outstanding stock).
- Five directors were elected: Chad M. George, Dayton Judd, Dale E. Lehmann, R. Rimmy Malhotra, and Danny R. Schoening.
- Whitley Penn LLP was ratified as the independent auditor for the fiscal year ending September 27, 2026, with 5,802,742 votes in favor.
- As of the record date, there were 6,937,358 shares of common stock issued and outstanding.
Optex Systems Holdings, Inc. announced its quarterly financial results for the period ended December 28, 2025, and authorized a new stock repurchase program of up to $10 million.
📋 Key Facts
- The company issued a press release regarding fiscal quarter results for the period ending December 28, 2025.
- The Board of Directors terminated the existing stock repurchase program.
- A new stock repurchase program was approved with an authorization of up to $10,000,000.00 in common stock.
- Repurchases may occur via open market, private transactions, or Rule 10b5-1 plans.
Optex Systems Holdings, Inc. announced the Board of Directors' approval of performance-based share grants for its CEO and CFO effective December 18, 2025.
🚩 Red Flags
- None identified in this filing.
📋 Key Facts
- Grant to Chad George (CEO): 50,000 performance shares.
- Grant to Karen Hawkins (CFO): 17,500 performance shares.
- Performance period: December 18, 2025, to September 29, 2030.
- Vesting is contingent on the average VWAP meeting specific price targets over a 30-day trading period.
- Price targets for vesting: $17.54, $21.05, $25.26, $30.31, and $36.37.
Optex Systems Holdings Inc. has filed an 8-K to furnish its financial results for the fiscal fourth quarter and full year ended September 28, 2025.
📋 Key Facts
- Report date: December 17, 2025
- Reporting period: Fiscal fourth quarter and full year ended September 28, 2025
- The filing includes a press release (Exhibit 99.1) containing the financial results.
- Information is furnished under Item 2.02 and is not considered 'filed' for purposes of Section 18 liability.
Optex Systems Holdings announced the resignation of CEO Danny Schoening effective December 20, 2025. Chad George, currently President, will succeed him as CEO and join the Board of Directors.
🚩 Red Flags
- CEO transition occurring mid-cycle/late in the year.
- New employment agreement for CEO includes a 'good reason' termination clause related to mergers or changes in control (>66% voting power change).
📋 Key Facts
- CEO Danny Schoening to resign from CEO role on Dec 20, 2025; will remain Chairman and Facilities Security Officer.
- Chad George appointed CEO effective Dec 20, 2025; term through Dec 31, 2028 (with automatic extensions).
- New employment agreement for Chad George includes a $300,000 annual base salary and a target performance bonus of 30%.
- Board size increased from four to five members with the election of Chad George.
- Schoening's director compensation approved at $44,000 cash and $66,000 in restricted stock (100% vesting Jan 2027).
Optex Systems Holdings, Inc. announced its upcoming presentation at the 2025 Annual Gateway Conference scheduled for September 4, 2025.
📋 Key Facts
- Company is scheduled to present at the 2025 Annual Gateway Conference on September 4, 2025, at 11:30 a.m. PT.
- The conference will be held at the Four Seasons Hotel in San Francisco, CA.
- A slide deck will be made available on the company's investor relations webpage prior to the presentation.
Optex Systems Holdings, Inc. announced the appointment of Chad George as President, effective August 11, 2025. The company also amended its bylaws to separate the CEO and President roles and establish specific procedural requirements for shareholder proposals.
🚩 Red Flags
- None identified in this filing.
📋 Key Facts
- Chad George appointed as President, effective August 11, 2025; term through July 1, 2028 with automatic extensions.
- Danny Schoening to continue as Chairman and CEO.
- George's compensation includes a $300,000 base salary, 3.5% annual increase, and a target performance bonus of 30%.
- Board granted George 10,000 shares of restricted stock vesting on January 1, 2026.
- Bylaws amended to allow CEO and President roles to be held by different individuals (Art. V).
- New bylaws include procedural requirements for shareholder proposals/nominations and mandatory Delaware venue for derivative actions.
Optex Systems Holdings, Inc. has renewed its existing revolving credit facility with Texas Capital Bank. The new Business Loan Agreement provides a $3 million line of credit through May 22, 2027.
🚩 Red Flags
- Credit facility is secured by substantially all operating assets (standard for micro-caps but limits asset flexibility).
- Capital expenditure limit set at $1 million per year.
📋 Key Facts
- Renewed revolving credit facility with Texas Capital Bank effective May 22, 2025.
- Principal amount: $3 million revolving line of credit.
- Maturity Date: May 22, 2027 (24-month commitment period).
- Current interest rate: 7.07% per annum (variable: SOFR + margin).
- Includes a $125,000 Letter of Credit sublimit.
- Collateral: Substantially all operating assets of the Borrowers.
- Financial Covenants: Fixed charge coverage ratio ≥ 1.25:1 and total leverage ratio ≤ 3:1.
Optex Systems Holdings, Inc. filed an 8-K to announce its quarterly results of operations for the period ended March 30, 2025.
📋 Key Facts
- The filing is a standard earnings announcement under Item 2.02.
- Reporting period: Quarter ended March 30, 2025.
- Filing date: May 13, 2025.
- The company included an Exhibit 99.1 containing the press release with detailed financial results.
Optex Systems Holdings Inc. held its 2025 annual meeting of shareholders on February 19, 2025. Shareholders successfully elected four directors and approved the ratification of auditors and executive compensation.
📋 Key Facts
- Annual meeting held on February 19, 2025.
- Quorum consisted of 5,729,315 shares (approx. 83% of outstanding shares).
- Four director nominees elected: Danny R. Schoening, Dayton Judd, Dale E. Lehmann, and R. Rimmy Malhotra.
- Whitley Penn LLP was ratified as the independent registered public accounting firm for fiscal year ending Sept 28, 2025.
- Shareholders approved executive compensation on an advisory basis (Say-on-Pay).
- Total shares issued and outstanding at record date: 6,896,738.
Optex Systems Holdings Inc. held its 2024 annual meeting of shareholders on February 21, 2024. Shareholders successfully elected four directors and ratified the appointment of Whitley Penn LLP as the independent auditor.
📋 Key Facts
- Annual meeting held on February 21, 2024.
- Quorum consisted of 5,928,830 shares present or represented by proxy.
- Total issued and outstanding shares at record date: 6,823,693.
- Four director nominees elected: Danny R. Schoening, Dayton Judd, Dale E. Lehmann, and R. Rimmy Malhotra.
- Whitley Penn LLP ratified as the independent registered public accounting firm for fiscal year ending September 29, 2024.
Optex Systems Holdings, Inc. entered into an asset purchase and contract manufacturing agreement with RUB Aluminium s. r. o. to acquire intellectual property for the Speedtracker Mach product line. The acquisition was funded via $1 million in cash on hand, with additional milestone-based payments possible.
🚩 Red Flags
- Use of significant cash reserves ($1M) for an asset acquisition in a micro-cap context may impact liquidity depending on total cash position (not fully disclosed in 8-K).
- Contingent liabilities: Potential additional future cash payments based on milestones.
📋 Key Facts
- Acquired IP and technical/marketing info for 'Speedtracker Mach' product line (firearm projectile speed detection).
- Transaction date: January 18, 2024.
- Upfront payment of $1 million in cash on hand.
- Includes a contract manufacturing agreement with RUB Aluminium s. r. o. for a one-year initial term.
- Potential future cash payments tied to successful completion of defined milestones.
Optex Systems Holdings Inc. announced a new employment agreement for its Chief Financial Officer, Karen Hawkins, effective January 1, 2024. The agreement secures her position through at least December 31, 2026, with automatic annual extensions.
📋 Key Facts
- Effective date of new agreement: January 1, 2024.
- Term: Through December 31, 2026, with successive 12-month automatic extensions unless notice is given.
- Base Salary: $224,328 per annum.
- Bonus Structure: Target bonus of 30% of base salary, subject to Board discretion within a +/- 20% range based on operating metrics.
- Termination Benefits: Six months' base salary if terminated by the Company without cause or by Ms. Hawkins for 'good reason'.