Ubiquiti Inc. Form 8-K Summary
Business Context and Reporting Period
This Current Report on Form 8-K was filed by Ubiquiti Networks, Inc. on October 16, 2015, reporting events occurring on October 14, 2015. The filing addresses corporate governance changes regarding the Board of Directors.
Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report is limited to Item 5.02 regarding officer departures and does not contain financial performance data.
Material Changes
Steven R. Altman has informed the Company of his intention not to stand for re-election to the Board of Directors at the Annual Meeting of Stockholders scheduled for December 16, 2015. Consequently, he will resign from the audit committee, compensation committee, and nominating and governance committee at that time. Mr. Altman will remain on the Board and serve on these committees until the Annual Meeting concludes.
Management Commentary and Risks
Management confirmed that there is no disagreement between Mr. Altman and the Company on any matter relating to the Company's operations, policies, or practices. No other risks, contingencies, or unusual items were disclosed in this filing.
Key Facts for Investor Verification
- Steven R. Altman will not seek re-election to the Board of Directors at the December 16, 2015 Annual Meeting.
- Mr. Altman will resign from all committee memberships (Audit, Compensation, Nominating and Governance) effective at the Annual Meeting.
- The departure is voluntary and not the result of any disagreement with the Company.
- Mr. Altman remains a director and committee member until the Annual Meeting.