Business Context and Reporting Period
This Form 8-K is a current report filed by PerkinElmer, Inc. (Note: The request metadata lists "REVVITY, INC.", but the filing text identifies the registrant as PerkinElmer, Inc.) on January 3, 2005. The report discloses the entry into a material definitive agreement regarding executive compensation.
Key Financial Metrics
The filing does not provide financial performance metrics such as revenue, profit, cash flow, margins, debt, or liquidity. The document focuses exclusively on the terms of stock option awards granted to executive officers.
Material Changes and Event Details
On January 3, 2005, PerkinElmer, Inc. granted annual stock option awards to its executive officers under the 2001 Incentive Plan. Key terms include:
- Exercise Price: $22.22 per share (equal to the fair market value calculated as the average of the high and low trading prices on January 3, 2004).
- Vesting Schedule: Three equal annual installments beginning January 3, 2006.
- Term: Seven years from the grant date.
- Acceleration: All unvested options become 100% vested upon a change in control or the death/disability of the executive.
Award Summary:
| Executive Officer | Title | Shares Underlying Options |
|---|---|---|
| Gregory L. Summe | Chairman, CEO, and President | 200,000 |
| Robert F. Friel | EVP and CFO | 85,000 |
| John P. Murphy | EVP and COO | 80,000 |
| Peter B. Coggins | SVP and President, Life and Analytical Sciences | 60,000 |
| Richard F. Walsh | SVP, Human Resources | 40,000 |
| John A. Roush | VP and President, Optoelectronics | 25,000 |
| Jeffrey D. Capello | VP Finance, Treasurer, and CAO | 25,000 |
Guidance, Outlook, and Risks
The filing contains no management commentary, financial guidance, outlook, or discussion of risks and contingencies beyond the standard terms of the stock option agreement.
Investor Verification Checklist
- Verify the current corporate name and status of the registrant (PerkinElmer, Inc. vs. REVVITY, INC.).
- Confirm the total number of shares authorized under the 2001 Incentive Plan and the remaining pool available for future grants.
- Review the impact of these option grants on the company's diluted earnings per share (EPS) calculations in subsequent periods.
- Check for any subsequent filings regarding changes in control or executive departures that would trigger the acceleration of these options.