Business Context and Reporting Period
This Form 8-K Current Report was filed by Ultra Clean Holdings, Inc. on June 23, 2022. The filing discloses a specific corporate governance event regarding the appointment of a senior executive officer.
Key Financial Metrics
The filing does not provide financial performance data such as revenue, profit, cash flow, margins, debt, or liquidity. The document focuses exclusively on executive compensation details:
- Base Salary: $375,000 per year.
- Management Bonus: Target payout of 60% of base salary (annualized) after one full quarter of employment.
- Restricted Stock Units (RSUs): Award valued at $800,000, vesting over three years in equal annual installments.
- Sign-on Bonus: $150,000, contingent on 12 months of continued employment.
Material Changes
On June 23, 2022, the Board of Directors appointed Brian E. Harding as Chief Accounting Officer, effective June 24, 2022. This represents a change in the Company's senior management team.
Outlook, Risks, and Management Commentary
The filing contains no forward-looking guidance, market outlook, risk factors, or management commentary regarding business operations. The text is limited to the biographical background of the new appointee and the terms of his compensation package.
Key Facts for Investor Verification
- Verify the effective start date of Brian E. Harding as Chief Accounting Officer (June 24, 2022).
- Confirm the total initial compensation package value, including the $800,000 RSU grant and $150,000 sign-on bonus.
- Note that the sign-on bonus is subject to a 12-month retention requirement.
- Review the vesting schedule for the RSUs, which occurs in three equal annual installments.