SEC Filing Summary: SYNNEX CORPORATION (Form 8-K)
Business Context and Reporting Period
This Form 8-K was filed on March 24, 2014, by SYNNEX Corporation (Delaware). The report details corporate governance events, specifically executive compensation awards and the results of the Annual Meeting of Stockholders held on March 25, 2014.
Key Financial Metrics
The filing does not provide revenue, profit, cash flow, margin, debt, or liquidity metrics. The only financial figure disclosed is the value of a specific equity award.
- Executive Compensation Award: Restricted Stock Units (RSUs) valued at $500,000 awarded to Simon Y. Leung, Senior Vice President, General Counsel, and Corporate Secretary.
Material Changes and Corporate Actions
Executive Compensation (Item 5.02):
- On March 24, 2014, the Compensation Committee awarded RSUs to Simon Y. Leung.
- Grant Date: Scheduled for the fifth trading day following the release of Q1 2014 earnings.
- Vesting: RSUs vest on the third anniversary of the grant date, contingent on continued employment.
- Death Provision: In the event of Mr. Leung's death prior to vesting, the estate receives shares that would have vested up to the date of death.
Annual Meeting Results (Item 5.07):
- Proposal 1 (Election of Directors): All 10 director nominees were elected. Votes ranged from approximately 33.76 million to 35.00 million "For" votes out of roughly 36.45 million total votes cast (including broker non-votes).
- Proposal 2 (Say-on-Pay): The advisory vote on executive compensation passed with 34,935,534 "For" votes versus 89,304 "Against" votes.
- Proposal 3 (Employee Stock Purchase Plan): The 2014 plan was approved with 34,930,408 "For" votes versus 6,069 "Against" votes.
- Proposal 4 (Ratification of Auditors): The selection of KPMG LLP as independent registered public accountants was ratified with 36,440,496 "For" votes versus 6,082 "Against" votes.
Guidance, Outlook, and Risks
The filing does not contain management guidance, financial outlook, risk factors, or contingencies. It is strictly a current report regarding specific corporate events.
Investor Verification Checklist
- Verify the exact grant date of the RSUs awarded to Simon Y. Leung once Q1 2014 earnings are released.
- Confirm the number of shares issued for the RSUs based on the closing stock price on the grant date.
- Review the full proxy statement for detailed biographical information on the elected directors.
- Note that this filing does not contain financial performance data; refer to the 10-Q or 10-K for fiscal results.