SEC Filing Summary: SYNNEX CORPORATION (Form 8-K)
Business Context and Reporting Period
This Form 8-K was filed on January 5, 2009, by SYNNEX Corporation (Delaware). The report primarily serves to disclose executive compensation decisions made on January 5, 2009, and references a press release issued on January 8, 2009, regarding financial results for the fiscal fourth quarter and full year ended November 30, 2008. The filing also announces the record date and meeting date for the 2009 Annual Meeting of Stockholders.
Key Financial Metrics
The filing text does not provide specific values for revenue, profit, cash flow, margins, debt, or liquidity. These metrics are referenced as being contained in the press release furnished as Exhibit 99.1, but the numerical data is not included in the body of this 8-K document.
Material Changes and Executive Compensation
On January 5, 2009, the Compensation Committee approved cash bonus payments under the 2008 Profit Sharing Plan for the following executive officers:
- Robert Huang (Former President and Co-CEO): $1,800,000
- Kevin Murai (President and CEO): $900,000
- Peter Larocque: $800,000
- Dennis Polk: $625,000
- Thomas Alsborg: $345,000
- James Estill: CDN$ 285,000
Bonus amounts were determined based on recommendations from Mr. Huang and Mr. Murai regarding individual contributions.
Outlook, Risks, and Other Events
The filing references a press release (Exhibit 99.2) announcing the 2009 Annual Meeting of Stockholders. No specific guidance, risk factors, or management commentary regarding future performance is detailed within the text of this 8-K; such information is contained in the referenced exhibits.
Investor Verification Checklist
- Review Exhibit 99.1 for the actual financial results (revenue, earnings, margins) for the fiscal year ended November 30, 2008.
- Verify the total cash outflow for executive bonuses totaling approximately $4.51 million USD plus CDN$ 285,000.
- Confirm the specific record date and meeting date for the 2009 Annual Meeting of Stockholders via Exhibit 99.2.
- Assess the impact of the 2008 profit sharing plan on the company's cash position given the economic environment of early 2009.