0001437749-23-000340.txt : 20230104 0001437749-23-000340.hdr.sgml : 20230104 20230104165040 ACCESSION NUMBER: 0001437749-23-000340 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 15 CONFORMED PERIOD OF REPORT: 20230101 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20230104 DATE AS OF CHANGE: 20230104 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BEL FUSE INC /NJ CENTRAL INDEX KEY: 0000729580 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRONIC COILS, TRANSFORMERS & OTHER INDUCTORS [3677] IRS NUMBER: 221463699 STATE OF INCORPORATION: NJ FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-11676 FILM NUMBER: 23507381 BUSINESS ADDRESS: STREET 1: 206 VAN VORST ST. CITY: JERSEY CITY STATE: NJ ZIP: 07302 BUSINESS PHONE: 2014320463 MAIL ADDRESS: STREET 1: 206 VAN VORST ST. CITY: JERSEY CITY STATE: NJ ZIP: 07302 8-K 1 belfb20230103_8k.htm FORM 8-K belfb20230103_8k.htm
false 0000729580 0000729580 2023-01-01 2023-01-01 0000729580 belfb:ClassACommonStockCustomMember 2023-01-01 2023-01-01 0000729580 belfb:ClassBCommonStockCustomMember 2023-01-01 2023-01-01
 
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
 
Date of report (Date of earliest event reported):  January 1, 2023
 
BELFUSE INC /NJ
 
BEL FUSE INC.
(Exact Name of Registrant as Specified in its Charter)
 
New Jersey
 
000-11676
 
22-1463699
(State of  incorporation)
 
(Commission File Number)
 
(I.R.S. Employer Identification No.)
 
 
206 Van Vorst Street, Jersey City, New Jersey
 
07302
(Address of principal executive offices)
 
(Zip Code)
 
Registrant's telephone number, including area code:  (201) 432-0463
 
 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
 
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 
Securities registered pursuant to Section 12(b) of the Act:
 
Title of Each Class
 
Trading Symbol
 
Name of Exchange on Which Registered
Class A Common Stock ($0.10 par value)
 
BELFA
 
Nasdaq Global Select Market
Class B Common Stock ($0.10 par value)
 
BELFB
 
Nasdaq Global Select Market
 
 
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).
Emerging growth company
 
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 8.01.  OTHER EVENTS.
 
Bel Fuse Inc. announced the promotion of Lynn Hutkin as Vice President of Financial Reporting and Investor Relations, Joe Berry as Vice President of Magnetic Solutions and as previously announced, Kenneth Lai as Vice President of Asia Operations, each effective as of January 1, 2023. A copy of Bel’s press release dated January 3, 2023 announcing the promotions is attached as Exhibit 99.1 hereto.
 
 
 
ITEM 9.01.   FINANCIAL STATEMENTS AND EXHIBITS.
 
(d) Exhibits
 
 
104    Cover Page Interactive Data File (embedded within the Inline XBRL document).
 
 

 
 
SIGNATURE
 
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.
 
Date: January 4, 2023
 BEL FUSE INC.
 
 (Registrant)
 
 
 
 
By:  
 /s/ Farouq Tuweiq
 
Farouq Tuweiq
 
Chief Financial Officer
 
 

 
 
EXHIBIT INDEX
 
 
 
Exhibit No.
 
 
Description
 
 
 
 
 99.1
 
Press release issued by the Company, dated January 3, 2023.
 
 
         
104   Cover Page Interactive Data File (embedded within the Inline XBRL document).    
 
 
EX-99.1 2 ex_460412.htm EXHIBIT 99.1 ex_460412.htm

Exhibit 99.1

 

image00001.jpg

 

 

FOR IMMEDIATE RELEASE

Bel Fuse Inc.

206 Van Vorst Street

Jersey City,  NJ 07302

www.belfuse.com

tel 201.432.0463

fax 201.432.9542

 

 

 

 

  

 

 

 

 

Bel Prepares for Growth with Three Executive Promotions 

 

 

JERSEY CITY, NJ, Tuesday, January 3, 2023 -- Bel Fuse Inc. (Nasdaq: BELFA and BELFB), a leading global manufacturer of products that power, protect and connect electronic circuits, today announces three internal promotions to the executive team effective as of January 1, 2023. 

 

Lynn Hutkin was appointed Vice President of Financial Reporting and Investor Relations. Lynn has been with Bel for 15 years in roles with increasing responsibilities in the areas of corporate accounting, financial reporting and investor relations. She has been instrumental in streamlining accounting processes and leveraging Bel’s new ERP system to identify actions needed to drive improvements in financial performance. Lynn earned her Bachelor’s degree in Accountancy from Bentley University and is a Certified Public Accountant.

 

Joe Berry was appointed Vice President of Magnetic Solutions. Joe came to Bel through the acquisition of Lucent Technologies’ Transformer and Inductor Division in 1999. In his prior role as Director of Operations and most recently as General Manager of Bel Magnetic Solutions, he has been an important contributor to the success of the Magnetic Solutions segment. Joe earned his Bachelor’s degree in Electrical Engineering from UMass-Lowell, his Master’s degree in Electrical Engineering from Northeastern University and received his MBA from Southern Methodist University.

 

Kenneth Lai commenced his new role as Vice President of Asia Operations effective January 1, 2023 as previously announced. Kenneth came to Bel through the acquisition of TE Connectivity’s TRP Connector division in 2013. Following Bel’s acquisition of the Power-One business in 2014, Kenneth was appointed as General Manager of our Bel Power Solutions Gongming factory and successfully transformed the operation into a world class manufacturing site for power supplies. Kenneth has expertise in Lean methodology and deep knowledge of Bel’s Asia operations. Kenneth earned his Bachelor’s degree in Engineering Physics from Hong Kong Polytechnic University and completed a mini-EMBA program by Hong Kong University of Science and Technology.

 

CEO Dan Bernstein stated, “The Board is delighted to recognize all three of these outstanding achievers at Bel. They will play an integral role in meeting the goals Bel has set forth that include long term growth, expanding market share, operational excellence and financial health. Lynn, Joe and Kenneth were graduates of Bel’s Leadership Program in 2021 and have continuously contributed to our operational, financial and business improvements throughout their tenure. Their ongoing performance and leadership will allow Bel to remain committed to a culture of strategic improvements that drive long-term shareholder and stakeholder value.” 

 

About Bel
Bel (NASDAQ: BELFA and BELFB) designs, manufactures and markets a broad array of products that include circuit protection, connectors, cable assemblies, discrete components, magnetics and power supplies. The Company serves a global market and operates facilities around the world.

 

Company Contact:
Farouq Tuweiq  
Chief Financial Officer  
ir@belf.com
 
Investor Contact:
Three Part Advisors
Jean Marie Young, Managing Director or Steven Hooser, Partner
631-418-4339
 
Media Contacts:
Bel Fuse Inc. 
Kelly Wigginton
Kelly.Wigginton@belf.com 

 

Publitek
Zach Hynoski
zach.hynoski@publitek.com

 

*  *  *  *  * 

 

 

 

 
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Document And Entity Information
Jan. 01, 2023
Document Information [Line Items]  
Entity, Registrant Name BELFUSE INC /NJ
Document, Type 8-K
Document, Period End Date Jan. 01, 2023
Entity, Incorporation, State or Country Code NJ
Entity, File Number 000-11676
Entity, Tax Identification Number 22-1463699
Entity, Address, Address Line One 206 Van Vorst Street
Entity, Address, City or Town Jersey City
Entity, Address, State or Province NJ
Entity, Address, Postal Zip Code 07302
City Area Code 201
Local Phone Number 432-0463
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Entity, Emerging Growth Company false
Amendment Flag false
Entity, Central Index Key 0000729580
ClassACommonStock Custom [Member]  
Document Information [Line Items]  
Title of 12(b) Security Class A Common Stock
Trading Symbol BELFA
Security Exchange Name NASDAQ
ClassBCommonStock Custom [Member]  
Document Information [Line Items]  
Title of 12(b) Security Class B Common Stock
Trading Symbol BELFB
Security Exchange Name NASDAQ
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