Business Context and Reporting Period
This Form 8-K filing by Applied Materials, Inc. (Delaware) was submitted on December 10, 2007. The report addresses Item 5.02 regarding adjustments to executive officer salaries approved by the Human Resources and Compensation Committee.
Key Financial Metrics
The filing does not provide revenue, profit, cash flow, margins, debt, or liquidity metrics. It exclusively details specific annual base salary adjustments for named executive officers effective December 17, 2007.
| Executive Officer | Title | Annual Base Salary |
|---|---|---|
| Michael R. Splinter | President, CEO | $980,000 |
| George S. Davis | SVP, CFO | $513,000 |
| Franz Janker | EVP, Sales and Marketing | $594,000 |
| Manfred Kerschbaum | SVP, GM Applied Global Services | $504,400 |
| Mark R. Pinto | SVP, CTO and GM Energy and Environmental Solutions | $550,000 |
| Thomas St. Dennis | SVP, GM Silicon Systems Group | $514,100 |
Material Changes
Each salary listed above represents an increase from the prior level. The filing notes that the officers include individuals listed in the 2007 proxy statement and those expected to be listed in the 2008 proxy statement.
Guidance, Outlook, and Risks
The filing contains no financial guidance, outlook, management commentary on operations, risks, contingencies, or unusual items. The scope is limited to the compensation adjustment event.
Investor Verification Points
- Verify the effective date of the salary increases (December 17, 2007).
- Confirm the specific dollar amounts for each named executive officer against the 2007 proxy statement to calculate the exact percentage increase.
- Review the upcoming 2008 proxy statement to confirm the inclusion of these officers and their compensation packages.