Business Context and Reporting Period
This Form 8-K Current Report was filed by Bruker Corporation on March 1, 2012. The filing discloses a change in corporate officers, specifically the appointment of a new Vice President of Finance and Chief Accounting Officer.
Key Financial Metrics
The filing text does not provide revenue, profit, cash flow, margins, debt, or liquidity figures. This report focuses exclusively on personnel changes and associated compensation.
Material Changes
On March 1, 2012, Michael Gunnar Knell joined Bruker Corporation as Vice President of Finance and Chief Accounting Officer. He serves as the Company's principal accounting officer, reporting to Chief Financial Officer William J. Knight. Mr. Knight previously held the principal accounting officer role but continues to serve as the principal financial officer.
Management Commentary and Compensation
Mr. Knell, age 35, was previously a Partner in Assurance Services at Ernst & Young LLP. His compensation package includes:
- Annual base salary: $220,000
- Annual performance bonus target: $60,000 (subject to proration)
- Signing bonus: $5,000
- Initial stock option grant: 35,000 shares under the 2010 Incentive Compensation Plan
The filing contains no guidance, outlook, or discussion of risks and contingencies beyond the standard disclosure of the officer appointment.
Investor Verification Points
- Confirm the effective date of Mr. Knell's appointment and the transition of duties from Mr. Knight.
- Review the terms of the 2010 Incentive Compensation Plan regarding the 35,000 share option grant.
- Verify the proration calculation for the 2012 performance bonus based on the March 1 start date.