YUNHONG GREEN CTI LTD.
Items (1)
Item 5.02 Departure of Directors or Certain Officers; Appointment of Certain Officers. Departure of Chief Executive Officer and Acting Chief Financial Officer On October 30, 2024, the Board of Directors (the “ Board”) of Yunhong Green CTI Ltd. (the “ Company”), received notice of the resignation of Frank Cesario as Chief Executive Officer and Acting Chief Financial Officer of the Company, effective November 8, 2024. Mr. Cesario will continue as a Director of the Company. Appointment of Chief Executive Officer On October 30, 2024, the Board shared its intention to appoint Jana M. Schwan, 48, as Chief Executive Officer, effective November 11, 2024. Ms. Schwan has been employed by the Company in progressively more responsible roles in operational, purchasing, and product development capacities since September 2002, and currently leads its Sales, Marketing and Business Development activities in addition to all Operations of the Company. Ms. Schwan was named Vice President of Operations in 2017 and Chief Operating Officer in 2020. There are no family relationships between Ms. Schwan and any other director or executive officer of the Company. There are no related party transactions involving Ms. Schwan that are reportable under Item 404(a) of Regulation S-K, except that her father, Mr. John Schwan, has a long-standing note payable from the Company to him. On December 31, 2023, that note amount was approximately $1.3 million. The Company repaid $1 million during January 2024, with the parties agreeing to pay the remainder at a future date as mutually agreed. That balance remains outstanding. 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. Dated: YUNHONG November 4, 2024 GREEN CTI LTD. ────────────────────────────────────────────────────────────────────────────────────────────────── By: /s/ Name: Frank Title: Chief