SEC Filing Summary: TD SYNNEX CORP (Form 8-K)
Business Context and Reporting Period
This Current Report (Form 8-K) was filed by SYNNEX Corporation on October 20, 2008. The filing addresses a specific corporate governance event regarding the termination of an escrow agreement related to a prior acquisition.
Key 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 a contractual amendment and does not contain financial performance data.
Material Changes
The primary material change reported is the termination of an Escrow Agreement entered into in August 2004. Key details include:
- Background: The agreement was established when SYNNEX acquired EMJ Data Systems Limited, requiring Jim Estill (former President and CEO of EMJ) to purchase CDN$5 million of SYNNEX common stock and hold it in escrow for five years.
- Action Taken: On October 20, 2008, the Compensation Committee agreed to terminate this Escrow Agreement.
- Employment Status: All other terms of Mr. Estill's employment agreement remain unchanged, valid, and enforceable.
Guidance, Outlook, and Risks
The filing contains no forward-looking guidance, management commentary on future operations, or discussion of general business risks. The only contingency mentioned is the specific resolution of the escrow obligation, which has been terminated by committee agreement.
Investor Verification Checklist
- Verify the current status of the CDN$5 million stock previously held in escrow following the termination.
- Confirm that no other compensation arrangements or employment terms for Jim Estill were altered alongside the escrow termination.
- Review subsequent filings to ensure no financial impact or restatement is required due to the release of the escrowed shares.