SEC Filing Summary: SYNNEX CORPORATION (8-K)
Business Context and Reporting Period
This Form 8-K was filed by SYNNEX CORPORATION on September 15, 2014. The report discloses a compensatory arrangement for the company's President and Chief Executive Officer, Kevin M. Murai.
Key Financial Metrics
The filing does not provide revenue, profit, cash flow, margin, debt, or liquidity figures. The only financial value disclosed is the grant of restricted stock units (RSUs) valued at $3,000,000.
Material Changes
The material event reported is the grant of $3,000,000 in RSUs to CEO Kevin M. Murai on September 15, 2014. The vesting schedule includes:
- Time-based vesting on the fourth and fifth anniversaries of the grant date, contingent on continuous employment.
- Performance-based vesting on the fourth and fifth anniversaries, contingent on continuous employment and the achievement of cumulative EBITDA targets for fiscal years ending November 30, 2014 through 2018.
- Provisions for accelerated vesting in the event of the CEO's death or disability prior to the fifth anniversary.
Guidance, Outlook, and Risks
The filing does not contain forward-looking guidance, management commentary on market outlook, or specific risk factors beyond the standard vesting contingencies. The Compensation Committee established specific EBITDA performance targets for the fiscal years 2014 through 2018, though the specific numerical targets are not disclosed in this document.
Key Facts for Investor Verification
- Verify the specific cumulative EBITDA targets established for fiscal years 2014-2018 in subsequent filings or proxy statements.
- Confirm the total number of RSUs granted based on the stock price on September 15, 2014.
- Review the company's 10-K or 10-Q filings for the impact of this grant on total executive compensation and equity dilution.