Business Context and Reporting Period
This Form 8-K filing by Bruker Corporation (Delaware) was submitted on March 23, 2017, reporting a corporate governance event regarding the departure of a senior officer.
Key Financial Metrics
The filing does not provide revenue, profit, cash flow, margin, debt, or liquidity metrics. It is a current report focused solely on personnel changes and associated compensation.
Material Changes
The primary material change is the resignation of Michael G. Knell, Vice President of Finance and Chief Accounting Officer, effective March 31, 2017. There were no disagreements regarding accounting principles or financial statement disclosures. Anthony L. Mattacchione, the Chief Financial Officer, assumed Knell's responsibilities as principal accounting officer effective March 23, 2017.
Outlook, Risks, and Unusual Items
Mr. Knell agreed to provide transition assistance until April 21, 2017. His departure package includes:
- A 2016 performance cash incentive award of $68,788.
- A departure payment of $116,573, contingent on satisfactory completion of transition responsibilities.
- COBRA healthcare coverage for up to six months.
- Non-competition and non-solicitation obligations for one year post-separation.
Investor Verification Checklist
- Confirm the effective date of Michael G. Knell's resignation (March 31, 2017).
- Verify that Anthony L. Mattacchione has officially assumed the role of principal accounting officer.
- Review the total compensation cost associated with the departure ($185,361 in cash payments plus benefits).
- Ensure no undisclosed disagreements exist regarding accounting practices as stated in the filing.