Business Context and Reporting Period
Company: Fox Factory Holding Corp.
Filing Type: Form 8-K (Current Report)
Date of Report: October 19, 2016
Subject: Amendment to the employment agreement of Bill Katherman regarding compensatory arrangements.
Key Financial Metrics
This filing does not report revenue, profit, cash flow, margins, debt, or liquidity metrics. The document focuses exclusively on executive compensation terms.
Material Changes
The Company amended the employment agreement with Bill Katherman, originally dated February 20, 2014. The material change involves the performance bonus structure:
- Previous Arrangement: Modified by the new Amendment.
- New Bonus Structure: Eligible for a performance bonus ranging from 0% to 75% of his annual base salary.
- Performance Criteria: Bonus is based solely on the Company's achievement of certain EBITDA targets as defined in the Amendment.
- Other Terms: No other material changes were made to the Agreement.
Guidance, Outlook, and Risks
Management Commentary: The filing states that the summary is qualified in its entirety by reference to the text of the Amendment (Exhibit 10.1).
Risks and Contingencies: No specific risks or contingencies are detailed in the text of this report beyond the standard incorporation of the exhibit.
Investor Verification Checklist
- Review Exhibit 10.1 to identify the specific EBITDA targets required to trigger the 0% to 75% bonus range.
- Verify Bill Katherman's current annual base salary to calculate the potential maximum bonus payout.
- Confirm if the EBITDA targets are defined on a trailing twelve-month basis or a fiscal year basis.
- Check subsequent filings for any further amendments to this agreement or changes in executive leadership.