Business Context and Reporting Period
This Form 8-K is a current report filed by Axcelis Technologies, Inc. on January 21, 2003, covering events occurring between January 6, 2003 and January 19, 2003. The filing addresses the completion of mandatory share sales from specific 401(k) plans as previously disclosed in the company's Form 10-Q for the quarter ended September 30, 2002.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on the administrative completion of share sales and does not contain financial performance data.
Material Changes
The primary material event reported is the full liquidation of Axcelis common stock held in two specific retirement plans:
- Axcelis Long Term Investment Plan: All shares were sold by January 6, 2003.
- Eaton Corporation 401(k) Plans: Eaton Corporation confirmed on January 19, 2003, that all Axcelis shares held in these plans had been sold.
Guidance, Outlook, and Risks
The filing contains no management commentary, forward-looking guidance, or discussion of risks and contingencies beyond the execution of the required share sales. The transaction was a fulfillment of a prior obligation disclosed in the September 30, 2002, Form 10-Q.
Investor Verification Checklist
- Verify the total number of shares sold from the Eaton Corporation and Axcelis 401(k) plans to assess potential market impact.
- Confirm the sale price per share to understand the valuation at which these blocks were liquidated.
- Review the September 30, 2002, Form 10-Q for the original disclosure regarding the requirement to sell these shares.