CSP INC /MA/ 8-K

What Happened
CSP Inc. (CSPI) filed an 8-K (Item 5.02) reporting that Michael Newbanks, Vice President of Finance and Chief Accounting Officer, departed his position effective June 5, 2026. The company said his departure was not due to any disagreement with the Company or its Board. Newbanks had served as Chief Accounting Officer since July 2017 and previously was Controller of the Modcomp subsidiary beginning May 2003.

Key Details

• Departure date: June 5, 2026; 8-K filed and signed June 8, 2026 by CFO Gary W. Levine.
• Successor/transition: the Company extended Newbanks’ position to assist in transferring responsibilities to Eric Sachs.
• Post-departure role: Newbanks will provide consulting services to the Company.
• No disagreement: the filing states the departure was not the result of any disagreement with the Company or the Board regarding operations, policies, or practices.

Why It Matters
This is a change in CSP’s senior accounting leadership and the company has disclosed a specified successor and a consulting arrangement to support the transition. Investors should note the facts disclosed (departure date, transition to Eric Sachs, consulting arrangement, and no disagreement) when evaluating the company's governance and continuity of financial reporting.