Business Context and Reporting Period
This Form 8-K Current Report was filed by QuickLogic Corporation on September 21, 2026, covering events occurring on September 18, 2026. The filing addresses significant changes in executive leadership, specifically the resignation of the Chief Financial Officer (CFO) and the appointment of a successor.
Key Financial Metrics
This filing does not contain financial performance data such as revenue, profit, cash flow, margins, debt, or liquidity metrics. The document focuses exclusively on personnel changes and associated compensation arrangements.
Material Changes
- Resignation of CFO: Elias Nader resigned as Chief Financial Officer effective September 18, 2026, to pursue other opportunities. The departure is not related to any disagreement regarding accounting or operating policies.
- Appointment of New CFO: James Sullivan was appointed Senior Vice President of Finance and Chief Financial Officer, effective October 5, 2026.
- Compensation Package for New CFO:
- Annual Base Salary: $340,000
- Annual Incentive Bonus: Eligible for up to 50% of base salary
- Signing Bonus: $10,000 cash
- Equity Award: $600,000 in Restricted Stock Units (RSUs) granted outside the 2019 Equity Incentive Plan, vesting over three years.
Guidance, Outlook, and Risks
The filing does not provide updated financial guidance, outlook, or management commentary on business operations. The primary risk disclosed is the transition of leadership within the finance organization, though the company notes Mr. Nader is committed to an orderly transition. No unusual items or contingencies were reported in this document.
Investor Verification Checklist
- Verify the effective date of James Sullivan's appointment (October 5, 2026) and the interim period coverage.
- Review the vesting schedule for the $600,000 RSU grant (one-third at one year, remainder semi-annually).
- Confirm the absence of any undisclosed disagreements regarding accounting practices during the transition.
- Check subsequent filings for the impact of this leadership change on the company's financial reporting timeline.