Amtech Systems Inc. Announces 2024 Annual Meeting of Shareholders on March 6, 2024
Ticker: ASYS · Form: DEF 14A · Filed: Jan 19, 2024 · CIK: 720500
| Field | Detail |
|---|---|
| Company | Amtech Systems Inc (ASYS) |
| Form Type | DEF 14A |
| Filed Date | Jan 19, 2024 |
| Risk Level | low |
| Pages | 16 |
| Reading Time | 19 min |
| Key Dollar Amounts | $0.01 |
| Sentiment | neutral |
Complexity: simple
Sentiment: neutral
Topics: Proxy Statement, Annual Meeting, Shareholder Vote, Executive Compensation, Director Election
TL;DR
<b>Amtech Systems, Inc. will hold its 2024 Annual Meeting of Shareholders on March 6, 2024, to elect directors and vote on executive compensation and auditor ratification.</b>
AI Summary
AMTECH SYSTEMS INC (ASYS) filed a Proxy Statement (DEF 14A) with the SEC on January 19, 2024. Amtech Systems, Inc. will hold its 2024 Annual Meeting of Shareholders on March 6, 2024, in Tempe, Arizona. The meeting agenda includes the election of five directors, ratification of Grant Thornton LLP as independent auditors, and advisory votes on executive compensation. Shareholders will vote on the frequency of future advisory votes on executive compensation. The meeting will also address any other business properly brought before the shareholders. The proxy statement is filed under Schedule 14A, indicating it's a definitive proxy statement.
Why It Matters
For investors and stakeholders tracking AMTECH SYSTEMS INC, this filing contains several important signals. This filing is a definitive proxy statement (DEF 14A) which provides shareholders with information to vote on key corporate matters, including director elections and executive compensation. The meeting's outcomes, particularly the election of directors and advisory votes on compensation, can influence the company's strategic direction and governance.
Risk Assessment
Risk Level: low — AMTECH SYSTEMS INC shows low risk based on this filing. The filing is a routine proxy statement for an annual meeting and does not contain new financial or operational information that would indicate significant risk.
Analyst Insight
Shareholders should review the proxy materials carefully to make informed voting decisions on director nominees and executive compensation.
Key Numbers
- 5 — Directors to be elected (To serve until the 2025 Annual Meeting of Shareholders)
- 2024 — Fiscal year for auditor ratification (Fiscal year ending September 30, 2024)
- 2025 — Term for elected directors (Until the 2025 Annual Meeting of Shareholders)
Key Players & Entities
- AMTECH SYSTEMS, INC. (company) — Filer and Registrant
- Grant Thornton LLP (company) — Independent registered public accountants
- March 6, 2024 (date) — Date of the 2024 Annual Meeting of Shareholders
- Tempe, Arizona (location) — Location of the Annual Meeting
FAQ
When did AMTECH SYSTEMS INC file this DEF 14A?
AMTECH SYSTEMS INC filed this Proxy Statement (DEF 14A) with the SEC on January 19, 2024.
What is a DEF 14A filing?
A DEF 14A is a definitive proxy statement sent to shareholders before annual meetings, covering executive compensation, board nominations, and shareholder votes. This particular DEF 14A was filed by AMTECH SYSTEMS INC (ASYS).
Where can I read the original DEF 14A filing from AMTECH SYSTEMS INC?
You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by AMTECH SYSTEMS INC.
What are the key takeaways from AMTECH SYSTEMS INC's DEF 14A?
AMTECH SYSTEMS INC filed this DEF 14A on January 19, 2024. Key takeaways: Amtech Systems, Inc. will hold its 2024 Annual Meeting of Shareholders on March 6, 2024, in Tempe, Arizona.. The meeting agenda includes the election of five directors, ratification of Grant Thornton LLP as independent auditors, and advisory votes on executive compensation.. Shareholders will vote on the frequency of future advisory votes on executive compensation..
Is AMTECH SYSTEMS INC a risky investment based on this filing?
Based on this DEF 14A, AMTECH SYSTEMS INC presents a relatively low-risk profile. The filing is a routine proxy statement for an annual meeting and does not contain new financial or operational information that would indicate significant risk.
What should investors do after reading AMTECH SYSTEMS INC's DEF 14A?
Shareholders should review the proxy materials carefully to make informed voting decisions on director nominees and executive compensation. The overall sentiment from this filing is neutral.
How does AMTECH SYSTEMS INC compare to its industry peers?
Amtech Systems, Inc. operates in the semiconductor equipment manufacturing industry, and its annual meeting is a standard corporate governance event.
Are there regulatory concerns for AMTECH SYSTEMS INC?
The filing adheres to SEC Rule 14a-101, which outlines the requirements for Schedule 14A filings, ensuring transparency in shareholder communications.
Risk Factors
- Filing of Proxy Statement [low — regulatory]: The company is filing a definitive proxy statement (DEF 14A) as required by SEC regulations for its annual shareholder meeting.
Industry Context
Amtech Systems, Inc. operates in the semiconductor equipment manufacturing industry, and its annual meeting is a standard corporate governance event.
Regulatory Implications
The filing adheres to SEC Rule 14a-101, which outlines the requirements for Schedule 14A filings, ensuring transparency in shareholder communications.
What Investors Should Do
- Review the list of director nominees and their qualifications.
- Understand the executive compensation proposals and advisory vote recommendations.
- Confirm the ratification of Grant Thornton LLP as the independent auditor.
Key Dates
- 2024-03-06: 2024 Annual Meeting of Shareholders — Shareholders will vote on director elections, executive compensation, and auditor ratification.
Glossary
- DEF 14A
- Definitive Proxy Statement filed with the SEC. (Indicates the filing contains final information for shareholders to vote at the annual meeting.)
- Schedule 14A
- A schedule filed with the SEC containing information required in a proxy statement. (Governs the content and format of proxy solicitations.)
Year-Over-Year Comparison
This is a DEF 14A filing for the 2024 Annual Meeting, indicating it's a definitive proxy statement, distinct from preliminary filings or other types of SEC submissions.
Filing Stats: 4,652 words · 19 min read · ~16 pages · Grade level 11.7 · Accepted 2024-01-19 17:26:01
Key Financial Figures
- $0.01 — 14,190,977 shares of our common stock, $0.01 par value (“Common Stock”
Filing Documents
- asys_def_14a_2024_live.htm (DEF 14A) — 631KB
- img234368765_0.jpg (GRAPHIC) — 185KB
- img234368765_1.jpg (GRAPHIC) — 58KB
- img234368765_2.jpg (GRAPHIC) — 669KB
- img234368765_3.jpg (GRAPHIC) — 471KB
- 0000950170-24-005875.txt ( ) — 2531KB
Executive Compensation
Executive Compensation 10 Employment Arrangements 15 Transactions with Related Persons in 2023 18 Audit Committee Report 19 Proposal No. 2 – To Approve the Ratification of the Independent Registered Public Accountants (Item No. 2 on the Proxy Card) 21 Proposal No. 3 – Advisory Vote On Named Executive Officer Compensation (Item No. 3 on the Proxy Card) 22
Security Ownership of Certain Beneficial Owners and Management
Security Ownership of Certain Beneficial Owners and Management 23 Securities Authorized for Issuance under Equity Compensation Plans 25 Proposal No. 4 - Advisory Vote on the Frequency of the Future Advisory Votes on Compensation of the Named Executive Officers (Item No. 4 on the Proxy Card) 26 Other Matters 27 AMTECH SYSTEMS, INC. 131 SOUTH CLARK DRIVE TEMPE, ARIZONA 85288 PROXY ST ATEMENT The Board of Directors, or “Board,” of Amtech Systems, Inc., an Arizona corporation (the “Company” or “Amtech”), is soliciting proxies to be used at the 2024 Annual Meeting of Shareholders to be held on Wednesday, March 6, 2024, at 9:00 a.m., Arizona time, and any adjournment or postponement thereof (the “Annual Meeting” or “Meeting”). A copy of the Notice of the Meeting accompanies this Proxy Statement. This Proxy Statement and the accompanying form of proxy will be mailed to all shareholders entitled to vote at the Annual Meeting beginning January 29, 2024. Who Can Vote Shareholders of record as of the close of business on January 12, 2024 (the “Record Date”), may vote at the Annual Meeting and at any adjournment or postponement of the Meeting. On the Record Date, 14,190,977 shares of our common stock, $0.01 par value (“Common Stock”), were issued and outstanding. A complete list of shareholders entitled to vote at the Annual Meeting shall be open to the examination of any shareholder, for any purpose germane to the Annual Meeting, during ordinary business hours for at least ten days prior to the Annual Meeting at our offices at 131 South Clark Drive, Tempe, Arizona 85288. What Constitutes a Quorum The presence, in person or by proxy, of the holders of a majority of the voting power of the issued and outstanding shares of Common Stock as of the Record Date entitled to vote is necessary to constitute a quorum at the Annual Meeting. Abstentions and brok
: Gender Identity
Part I: Gender Identity Directors 1 4 — —
: Demographic Background
Part II: Demographic Background African American or Black White — — — — Alaskan Native or Native American — — — — Asian — — — — Indian or South Asian — — — — Hispanic or Latinx — — — — Native Hawaiian or Pacific Islander — — — — White 1 4 — — Two or More Races or Ethnicities — — — — LGBTQ+ — — — — Did Not Disclose Demographic Background — — — — Information About Board and Committee Meetings Information concerning our Board and the three committees maintained by our Board is set forth below. Pursuant to Nasdaq and SEC rules, during fiscal 2023 the majority of our directors were not employees of the 6 Company and were “independent” within the meaning of the Nasdaq Listing Rules and SEC standards. Importantly, all members of the Audit, Compensation, and Nominating and Governance Committees are independent. Currently, our independent directors are Robert M. Averick, Michael Garnreiter and Michael M. Ludwig. Additionally, each member of the Audit Committee is financially literate, and one of the Audit Committee members, Michael Garnreiter, has financial management expertise as required by Nasdaq’s rules and meets the SEC’s definition of an “audit committee financial expert.” Our Board of Directors held nine (9) meetings during fiscal year 2023. None of our current directors who were directors during 2023 attended less than 75% of the aggregate of Board meetings and relevant committee meetings held during the year. Our Board has the authority under our Amended and Restated Bylaws, as amended, to increase or decrease the size of our Board and to fill vacancies, a