Business Context and Reporting Period
This Form 8-K Current Report was filed by Cohu, Inc. on October 25, 2022. The report discloses a corporate governance event: the appointment of a new director to the Board of Directors.
Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on personnel appointments and does not contain financial performance data.
Material Changes
The material change reported is the appointment of Andreas ("Andy") W. Mattes as a Class 3 director, effective November 1, 2022. His term will expire at the 2025 annual meeting of stockholders. Mr. Mattes has also been appointed to the Compensation Committee.
Compensation and Governance Details
- Annual Retainer: $60,000
- Committee Fee: $7,500 (Compensation Committee)
- Initial Equity Grant: Restricted Stock Units (RSUs) valued at $78,075 (pro-rated portion of a $150,000 grant), vesting over three years.
- Future Equity Grant: Eligible for the regular annual RSU grant expected in May 2023, valued at $150,000, vesting in approximately one year.
- Indemnification: Mr. Mattes is expected to sign the company's standard director indemnification agreement.
Key Facts for Investor Verification
- Verify the effective date of the appointment (November 1, 2022) and the expiration of the director term (2025).
- Confirm the specific vesting schedule for the initial pro-rated RSU grant versus the standard annual grant.
- Review the attached press release (Exhibit 99.1) for additional biographical details on Mr. Mattes.
- Note that this filing contains no financial results; refer to the most recent 10-Q or 10-K for financial metrics.