Ambarella Files 8-K on Officer Changes and Compensation
Ticker: AMBA · Form: 8-K · Filed: Feb 28, 2024 · CIK: 1280263
| Field | Detail |
|---|---|
| Company | Ambarella INC (AMBA) |
| Form Type | 8-K |
| Filed Date | Feb 28, 2024 |
| Risk Level | medium |
| Pages | 3 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.00045 |
| Sentiment | neutral |
Sentiment: neutral
Topics: executive-change, compensation, 8-K
TL;DR
**Ambarella just filed an 8-K about executive changes and pay, keep an eye on leadership shifts!**
AI Summary
Ambarella, Inc. filed an 8-K on February 28, 2024, reporting an event that occurred on February 22, 2024. The filing pertains to Item 5.02, specifically regarding the departure or election of directors or officers and compensatory arrangements. The company, based in Santa Clara, CA, operates in the semiconductor industry.
Why It Matters
This filing signals potential changes in Ambarella's leadership or executive compensation structure, which can influence company strategy and investor confidence.
Risk Assessment
Risk Level: medium — Changes in executive leadership or compensation can introduce uncertainty regarding future company direction and performance.
Key Numbers
- 2024-02-22 — Earliest Event Date (Date of the event reported in the 8-K)
- 2024-02-28 — Filing Date (Date the 8-K was filed with the SEC)
Key Players & Entities
- AMBARELLA INC (company) — Registrant
- February 22, 2024 (date) — Date of earliest event reported
- February 28, 2024 (date) — Filing date
- Santa Clara, CA (company) — Business address
- 001-35667 (dollar_amount) — Commission File Number
- 98-0459628 (dollar_amount) — IRS Employer Identification No.
- Cayman Islands (company) — Jurisdiction of incorporation
FAQ
What is the earliest event date reported in this 8-K filing?
The earliest event date reported in this 8-K filing is February 22, 2024.
What is the name of the registrant company?
The registrant company is AMBARELLA, INC.
What is the primary business address of Ambarella, Inc.?
The primary business address of Ambarella, Inc. is 3101 Jay Street, Santa Clara, CA 95054.
What item number of Form 8-K is this filing primarily about?
This filing is primarily about Item 5.02, which covers 'Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers'.
In which jurisdiction is Ambarella, Inc. incorporated?
Ambarella, Inc. is incorporated in the Cayman Islands.
Filing Stats: 757 words · 3 min read · ~3 pages · Grade level 13.3 · Accepted 2024-02-28 17:21:00
Key Financial Figures
- $0.00045 — on which registered Ordinary Shares, $0.00045 par value AMBA The Nasdaq Global Ma
Filing Documents
- d793563d8k.htm (8-K) — 24KB
- 0001193125-24-050958.txt ( ) — 140KB
- amba-20240222.xsd (EX-101.SCH) — 3KB
- amba-20240222_lab.xml (EX-101.LAB) — 17KB
- amba-20240222_pre.xml (EX-101.PRE) — 11KB
- d793563d8k_htm.xml (XML) — 3KB
From the Filing
8-K UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 February 22, 2024 Date of Report (date of earliest event reported) AMBARELLA, INC. (Exact name of Registrant as specified in its charter) Cayman Islands 001-35667 98-0459628 (State or other jurisdiction of incorporation) (Commission File Number) (I. R. S. Employer Identification No.) 3101 Jay Street Santa Clara , CA 95054 (Address of principal executive offices) Registrant's telephone number, including area code: (408) 734-8888 N/A (Former name or former address, if changed since last report) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below): Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol(s) Name of each exchange on which registered Ordinary Shares, $0.00045 par value AMBA The Nasdaq Global Market Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (240.12b-2 of this chapter). Emerging growth company If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. Item5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers Fiscal Year 2025 Annual Bonus Plan On February 22, 2024, the Compensation Committee of the Board of Directors (the "Compensation Committee") of Ambarella, Inc. (the "Company") approved a Fiscal Year 2025 Annual Bonus Plan (the "FY2025 Bonus Plan"). The Company's executive team members, including executive officers Feng-Ming Wang, John Young, Les Kohn, Chan Lee, Christopher Day, John Ju, and Yun-Lung Chen, are eligible to participate in the FY2025 Bonus Plan. The Board of Directors also approved a bonus target under the FY2025 Bonus Plan for Feng-Ming Wang, the Company's Chief Executive Officer, of 100% of his fiscal year 2025 annual base salary. Bonus targets for other executives range from 40% to 75% of annual base salary. The FY2025 Bonus Plan establishes an aggregate target bonus pool for company-wide bonuses, while the actual aggregate amount of the bonus pool under the FY2025 Bonus Plan will be determined by the Compensation Committee or the Board of Directors following completion of fiscal year 2025 based upon the Company's fiscal year 2025 performance against revenue, operating profit, and certain non-financial operational objectives established by the Compensation Committee. The performance weightings for the executive management team are 1/3 for the revenue metric, 1/3 for the operating profit metric and 1/3 for the non-financial operational objectives. On-target performance is intended to result in an aggregate bonus pool payout at target levels. Above target performance is intended to result in aggregate bonus pool payouts above target levels, with a maximum payout equal to 150% of the annual targeted bonus pool payout, absent approval otherwise by the Board of Directors or the Compensation Committee. Failure to achieve threshold performance levels will result in no funding of the bonus pool, while performance between threshold and target levels will be determined by linear interpolation. The Compensation Committee and the Board of Directors have discretion to individually apportion from such bonus pool and pay bonuses, if any, to individual executives that are based on achievement of corporate goals and individual objectives. Any bonus plan payouts will be made no later than two and one-half months following the end of the Company's fiscal year 2025, and generally are subject to continued employment through the payment date. The Compensation Committee and the Board of Directors have discretion to reduce, eliminate or increase the size of the bonus pool and the individual bonuses. Signature Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Dated: February 28, 2024 Ambarella, Inc. /s/ John A