SEC Filing Summary: SMART Global Holdings, Inc.
Business Context and Reporting Period
This Form 8-K was filed by SMART Global Holdings, Inc. (SGH) on May 14, 2024, reporting events occurring on May 8, 2024. The registrant is incorporated in the Cayman Islands and trades on the Nasdaq Global Select Market under the symbol SGH. The filing primarily addresses executive leadership changes and reaffirms financial guidance.
Key Financial Metrics
The filing does not provide specific numerical data regarding revenue, profit, cash flow, margins, debt, or liquidity for the current period. It references a press release (Exhibit 99.1) where the Company reaffirmed its financial outlook for the third quarter of fiscal 2024, but the specific figures are not detailed within the text of this 8-K.
Material Changes
- Executive Departure: Ken Rizvi, Senior Vice President and Chief Financial Officer (CFO), notified the Company of his resignation effective June 30, 2024. The departure is not the result of any dispute with the Company.
- Interim Appointment: Jack Pacheco, currently the Chief Operating Officer and President of Memory Solutions, will assume the role of Interim CFO and Principal Financial and Accounting Officer effective upon Mr. Rizvi's departure.
- Compensation: No new compensatory arrangements are being entered into with Mr. Pacheco for his interim service.
Guidance, Outlook, and Risks
The Company reaffirmed its financial outlook for the third quarter of fiscal 2024 in a press release issued on May 14, 2024. The filing notes that the information regarding the outlook is furnished pursuant to Regulation FD and is not deemed "filed" for purposes of Section 18 of the Exchange Act. No new risks or contingencies were disclosed in this specific report beyond the standard transition of financial leadership.
Investor Verification Checklist
- Verify the specific financial outlook figures for the third quarter of fiscal 2024 in the press release dated May 14, 2024 (Exhibit 99.1).
- Monitor the timeline for the appointment of a permanent CFO to succeed Jack Pacheco.
- Review the Company's Definitive Proxy Statement (Schedule 14A) filed on December 19, 2023, for Jack Pacheco's full biographical information.
- Confirm that no undisclosed disputes exist regarding Mr. Rizvi's departure, as stated in the filing.