Ultra Clean Holdings, Inc. - Form 8-K Summary
Business Context and Reporting Period
This Current Report on Form 8-K was filed by Ultra Clean Holdings, Inc. on May 17, 2005. The filing reports a material corporate event regarding the appointment of a new principal officer.
Key Financial Metrics
The filing text does not provide revenue, profit, cash flow, margins, debt, or liquidity figures. This report focuses exclusively on executive compensation and appointment details.
Material Changes
The primary material change is the appointment of Mr. Jack Sexton as Vice President and Chief Financial Officer, effective immediately on May 17, 2005.
- Compensation Package: Annual base salary of $200,000.
- Bonus: Annual target bonus equal to 40% of base salary.
- Equity: Grant of options to purchase 165,000 shares of common stock, subject to Board approval.
- Employment Agreement: The Company expects to enter into a formal employment agreement with Mr. Sexton.
Management Commentary and Risks
Mr. Sexton brings significant experience from Credence Systems Corporation, NPTest, Schlumberger, and Texas Instruments. The filing does not disclose specific risks, contingencies, or unusual items related to this appointment.
Investor Verification Checklist
- Confirm the final approval of the 165,000 stock options by the Board of Directors.
- Review the terms of the expected formal employment agreement once executed.
- Verify the transition timeline for the previous Chief Financial Officer (if applicable).