Frequency Electronics Inc (FEIM) · Nov 5, 2026 · Exec change

Frequency Electronics CFO transition adds $282,505 consulting deal

$282,505 consulting agreement — Annual fee of $282,505 plus continued equity vesting and $38,000 annual deferred benefit

Frequency Electronics’ CFO transition is now effective, but the consulting agreement preserves continuity at a meaningful compensation and equity cost.

Frequency Electronics is moving from longtime CFO Steven Bernstein to Allen Kaplan while continuing to build its precision timing, frequency-control and synchronization business; the CFO succession and a one-year transition arrangement were already announced on October 21, 2026, alongside reaffirmed fiscal 2029 targets.

The operational transition is covered, not changed. Bernstein retired as CFO, treasurer and secretary effective November 1, 2026, but will remain available to help close fiscal Q2 2027 and answer finance-related questions. 〔0〕 That lowers near-term handoff risk, but it is execution of an expected plan rather than a new strategic development.

The cost of continuity is substantial for a small company. The agreement pays Bernstein $282,505 annually through October 31, 2027, with monthly payments, expense reimbursement, continued vesting of outstanding RSUs and PSUs, and a deferred-compensation benefit of $38,000 per year if the initial term is completed. 〔1〕 The filing does not quantify the value of the equity awards or accrued paid time off, so the total economics cannot be measured precisely here.

The agreement also creates a meaningful termination obligation. If Frequency Electronics ends the arrangement without cause before October 31, 2027, Bernstein is entitled to the remaining consulting fees, accelerated RSU vesting through the term and continued PSU vesting, in addition to the deferred benefit. 〔2〕 That protects Bernstein more than it advances the business, although confidentiality, non-compete and non-solicitation provisions limit the risk of sensitive information leaving with him.

Bottom line: This filing completes an already-announced CFO handoff and reduces transition friction, but it does so with a sizeable compensation and equity package. It is mostly confirmation, with a slight negative tilt because the business pays meaningfully for continuity without gaining a new operating capability or strategic catalyst.

What to watch next

Fiscal Q2 2027 report and transition under Allen Kaplan

Original filing on SEC EDGAR

More Frequency Electronics Inc news

Frequency Electronics CFO transition adds $282,505 consulting deal | FEIM Stock News
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