Business Context and Reporting Period
This Form 8-K Current Report was filed by Super Micro Computer, Inc. on January 26, 2009. The filing primarily addresses corporate governance changes, specifically the appointment of a new director to the Board of Directors.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses on personnel appointments rather than financial performance data.
Material Changes
The material change reported is the appointment of Gregory K. Hinckley to fill a vacancy on the Board of Directors, effective January 26, 2008 (as noted in the text, though the report date is 2009). Mr. Hinckley was also appointed to serve on the Audit Committee.
Management Commentary and Compensation
- New Director Profile: Gregory K. Hinckley is the President and interim Chief Financial Officer of Mentor Graphics Corporation. He holds an MBA from Harvard Business School and is a Certified Public Accountant.
- Compensation Structure: Non-employee directors receive an annual retainer of $40,000, payable quarterly.
- Committee Fees: Directors serving on the audit, compensation, or nominating and corporate governance committees receive an additional annual retainer of $2,500 per committee.
- Equity Grants: New directors are granted an initial option to purchase 18,000 shares. Subsequent annual grants of 4,500 shares are made after each annual meeting of stockholders.
Investor Verification Checklist
- Verify the effective date of Gregory K. Hinckley's appointment (text cites Jan 26, 2008, while report date is Jan 26, 2009).
- Review the attached Press Release (Exhibit 99.1) dated January 30, 2009, for any additional context not included in the 8-K body.
- Confirm the total number of outstanding options granted to Mr. Hinckley upon his appointment.