CPI Card Group Inc. filed a Form 8-K with the SEC on August 26, 2026, disclosing the appointment of Brennan Hughes as Chief Accounting Officer effective August 24, 2026, and the departure of Donna Abbey Carmignani from that role effective August 20, 2026.

Key Highlights

  • New Chief Accounting Officer: Brennan Hughes, age 50, was appointed Chief Accounting Officer of CPI Card Group Inc., effective August 24, 2026.
  • Base salary: The Compensation Committee approved an annual base salary of $350,000 for Mr. Hughes, effective as of the appointment date.
  • Incentive compensation: Mr. Hughes received a target annual short-term incentive opportunity of $200,000 and a target annual long-term incentive opportunity of $200,000.
  • Sign-on awards: Mr. Hughes was approved to receive a one-time restricted stock unit award with a grant date value of $100,000, to be granted August 31, 2026, vesting in equal annual installments over three years, plus a cash sign-on award of $150,000.
  • Prior CAO departure: Donna Abbey Carmignani ceased serving as Controller and Chief Accounting Officer effective August 20, 2026, and became eligible for severance under the company's existing U.S. Executive Severance and Change in Control Guidelines.
  • Prior experience: Mr. Hughes most recently served as Director of Finance and Head of Investor Relations at Artisan Partners Asset Management Inc. from 2024 to 2026, and previously as Senior Vice President, Chief Accounting Officer, and Treasurer at Janus Henderson Group plc from 2013 to 2024.

CPI Card Group's Chief Accounting Officer Transition: Details and Compensation

According to the filing, CPI Card Group Inc. (NASDAQ:PMTS) announced on August 26, 2026, that Brennan Hughes has been appointed Chief Accounting Officer, with his appointment effective August 24, 2026. The company disclosed that Mr. Hughes, age 50, held roles of increasing responsibility at Janus Henderson Group plc from 2005 to 2024, including Senior Vice President, Chief Accounting Officer, and Treasurer from 2013 to 2024. Before that role, he served as Director of Finance and Head of Investor Relations at Artisan Partners Asset Management Inc. from 2024 to 2026. Earlier in his career, Mr. Hughes was Manager of Corporate Financial Reporting at First Data Corporation and began as an Audit Senior at Deloitte & Touche LLP.

The filing states that the Compensation Committee of the Board approved Mr. Hughes's compensation package, which includes an annual base salary of $350,000, a target annual short-term incentive opportunity of $200,000, and a target annual long-term incentive opportunity of $200,000. In addition, the committee approved a one-time restricted stock unit award with a grant date value of $100,000, to be granted on August 31, 2026, eligible to vest in equal annual installments over a three-year period beginning on the first anniversary of the grant date, generally subject to continued service. A cash sign-on award of $150,000 was also approved, according to the filing.

The company also disclosed that Donna Abbey Carmignani, who had served as Controller and Chief Accounting Officer, agreed to cease in those roles effective August 20, 2026. The filing states that upon her departure, Ms. Abbey Carmignani became eligible to receive severance payments and benefits under the company's existing U.S. Executive Severance and Change in Control Guidelines, as described in the company's 2026 Proxy Statement. The filing notes there is no arrangement or understanding between Mr. Hughes and any other person pursuant to which he was appointed, and that he has no family relationship with any director or executive officer of the company.

What Was Disclosed

CPI Card Group Inc. disclosed the appointment of Brennan Hughes as Chief Accounting Officer effective August 24, 2026, his approved compensation terms, and the departure of Donna Abbey Carmignani from the same role effective August 20, 2026, including her eligibility for severance.