Rebecca R. Eckert
About Rebecca R. Eckert
Rebecca R. Eckert is Vice President, Chief Accounting Officer and Controller of Sypris Solutions, appointed effective November 1, 2024; she serves as the company’s principal financial officer and principal accounting officer, is based in Louisville, KY, and reports to the CEO. She is 46, a CPA licensed in Kentucky, with a BS in Accounting from the University of Kentucky and an MS in Accounting from the University of Notre Dame; prior roles at Sypris include Controller and principal accounting officer (May 2009–Oct 2024) and Manager of Financial Reporting (May 2005–May 2009), following earlier work as an auditor at Ernst & Young LLP . Company performance context during her recent tenure includes FY2024 revenue of $140.180 million vs $136.223 million in FY2023 and cumulative TSR trending per required pay-versus-performance disclosures .
Company Pay vs Performance Metrics
| Metric | FY 2022 | FY 2023 | FY 2024 |
|---|---|---|---|
| Value of $100 Investment (TSR) | $135 | $134 | $72 |
| Net Income (Loss) ($USD Thousands) | $(2,494) | $(1,596) | $(1,680) |
Revenue Snapshot
| Metric | FY 2023 | FY 2024 |
|---|---|---|
| Revenue ($USD Thousands) | $136,223 | $140,180 |
| Net Income (Loss) ($USD Thousands) | $(1,596) | $(1,680) |
Quarterly Performance
| Metric | Q1 2024 | Q1 2025 |
|---|---|---|
| Revenue ($USD Thousands) | $35,553 | $29,508 |
| Net Income (Loss) ($USD Thousands) | $(2,221) | $(899) |
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Sypris Solutions, Inc. | Vice President, Chief Accounting Officer & Controller (Principal Financial Officer and Principal Accounting Officer) | Nov 1, 2024 – Present | Not disclosed |
| Sypris Solutions, Inc. | Controller and Principal Accounting Officer | May 2009 – Oct 2024 | Not disclosed |
| Sypris Solutions, Inc. | Manager of Financial Reporting | May 2005 – May 2009 | Not disclosed |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Ernst & Young LLP | Auditor | Prior to 2005 | Not disclosed |
Fixed Compensation
- No individual compensation detail for Ms. Eckert is disclosed in the 2024 Summary Compensation Table; the NEOs covered for 2024 were the CEO, SVP Treasurer (formerly CFO), and VP Administration .
- Company program context: 2024 executive compensation comprised annual salaries and long-term incentives (non-qualified stock options and restricted stock awards) for named executive officers; no annual cash bonus was reported for the listed NEOs in 2024 .
Performance Compensation
- No individual performance incentive metrics (e.g., revenue growth, EBITDA, TSR, ESG) tied specifically to Ms. Eckert’s compensation are disclosed.
- Equity award mechanics (company program context): recent stock option awards vest 100% on the third anniversary of grant with five-year terms; restricted stock awards vest 100% on the third anniversary .
- Change-of-control treatment under equity plans:
- 2020 Plan: Accelerated vesting applies depending on whether awards are assumed/continued/substituted; if assumed and employment is terminated within one year post-CoC without cause, awards receive 12 months of additional service credit; if not assumed, vesting accelerates at change-of-control and awards may be cashed out .
- 2025 Plan (subject to shareholder approval, subsequently approved): similar treatment with defined “Permitted Holder” exceptions and acceleration mechanics; plan terminates May 21, 2030 unless earlier discontinued, with outstanding awards unaffected .
Equity Ownership & Alignment
- Beneficial ownership: Ms. Eckert is not listed among directors, 5% holders, or the 2024 NEOs in the beneficial ownership table (as of April 3, 2025) .
- Anti-hedging policy: Officers, directors, and employees are prohibited from hedging or offsetting decreases in the market value of Company equity securities via derivatives or similar instruments .
- Anti-pledging policy: Pledging Company securities as collateral is prohibited for officers, directors, and certain designated employees without pre-approval of the Audit and Finance Committee .
- Stock ownership guidelines: Not disclosed in the cited materials.
Employment Terms
| Item | Detail |
|---|---|
| Appointment | Appointed Vice President, Chief Accounting Officer and Controller on Aug 15, 2024, effective Nov 1, 2024; serves as principal financial officer and principal accounting officer . |
| Reporting Line | Reports to CEO Jeffrey T. Gill . |
| Location | Louisville, Kentucky headquarters . |
| Arrangements/Understandings | No arrangements or understandings with any person other than ongoing employment pursuant to which selected as an officer . |
| Family Relationships | None with any director or other officer . |
| Related Party Transactions | None requiring disclosure under Item 404(a) of Regulation S-K . |
| Certifications/Filings | Signed 10-K SOX 302 certification (Principal Financial Officer) and multiple Form 8-K filings/exhibit signatures in 2025 . |
Performance & Track Record
- Disclosure controls/internal control role: As PFO/PAO, Ms. Eckert certified the effectiveness of disclosure controls and responsibilities under SOX 302 for FY2024 10-K .
- Filing execution: She signed multiple current reports on Form 8-K in 2025 (March 27 Q4 results, May 14 Q1 results, Jan 24 financing), consistent with principal financial officer responsibilities .
- Company performance during recent tenure:
- FY2024 revenue increased to $140.180 million from $136.223 million FY2023; net loss modestly widened to $(1,680)k from $(1,596)k; gross profit up 15.3% and gross margin +150 bps for the year per press release .
- Q1 2025 revenue was $29.508 million vs $35.553 million in Q1 2024; net loss improved to $(899)k from $(2,221)k; operating loss narrowed substantially .
- Company guidance and backlog commentary indicate operational focus amid market/tariff dynamics, providing context for accounting leadership demands .
Say-on-Pay & Shareholder Feedback
- Shareholders approved the 2025 Sypris Omnibus Plan and supported say-on-pay and annual frequency for advisory votes at the May 21, 2025 Annual Meeting .
| Proposal | For | Against | Abstain |
|---|---|---|---|
| 2025 Sypris Omnibus Plan | 11,078,046 | 1,300,883 | 16,054 |
| Say-on-Pay (NEO Compensation) | 12,223,383 | 155,943 | 15,657 |
| Frequency (Every Year) | 12,062,270 | — | — |
Investment Implications
- Alignment and governance: Anti-hedging/pledging policies reduce misalignment risks; no related-party transactions or special arrangements disclosed for Ms. Eckert, supporting governance quality around the finance function .
- Role-critical stability: As PFO/PAO with SOX 302 certifications and repeated filing sign-offs, continuity in the accounting leadership appears strong; there is no disclosed employment agreement, severance, or change-of-control terms specific to her beyond plan-level equity treatment, limiting visibility into individual retention economics .
- Performance backdrop: FY2024 revenue growth and margin expansion alongside improved quarterly loss metrics reflect operational progress; the finance function’s oversight of internal controls and reporting is central amid backlog execution and tariff-driven complexities—neutral-to-positive for execution risk assessment .
- Pay/practice signals: Company-wide approval of say-on-pay and omnibus plan suggests investor acceptance of compensation structure; however, lack of disclosed individual equity grants, vesting schedules, and ownership for Ms. Eckert constrains analysis of personal selling pressure and pay-for-performance alignment at the executive level .