Aviat Networks Appoints New Chief Legal Officer

TL;DR

Aviat Networks hires Jonathan Levy as new CLO, starting June 3rd. Big pay package includes salary, bonus, and $750K equity.

AI Summary

On May 28, 2024, Aviat Networks, Inc. announced the appointment of Jonathan B. Levy as Chief Legal Officer and General Counsel, effective June 3, 2024. Levy will receive an annual base salary of $375,000 and will be eligible for an annual bonus with a target of 50% of his base salary. He will also receive an equity award with a target value of $750,000, vesting over three years.

Why It Matters

The appointment of a new Chief Legal Officer is a significant leadership change that can impact the company's legal strategy and corporate governance.

Risk Assessment

Risk Level: low — This filing primarily concerns an executive appointment and compensation, which typically carries a low risk of immediate financial impact.

Key Numbers

• $375,000 — Annual Base Salary (Jonathan B. Levy's starting salary)
• 50% — Target Bonus Percentage (Jonathan B. Levy's potential annual bonus)
• $750,000 — Target Equity Award Value (Jonathan B. Levy's initial equity compensation)

Key Players & Entities

• Aviat Networks, Inc. (company) — Company making the announcement
• Jonathan B. Levy (person) — Newly appointed Chief Legal Officer and General Counsel
• $375,000 (dollar_amount) — Annual base salary for Jonathan B. Levy
• 50% (dollar_amount) — Target annual bonus percentage for Jonathan B. Levy
• $750,000 (dollar_amount) — Target equity award value for Jonathan B. Levy
• June 3, 2024 (date) — Effective date of Jonathan B. Levy's appointment

FAQ

Key Financial Figures

• $0.01 — ich registered Common Stock, par value $0.01 per share AVNW NASDAQ Stock Market LLC
• $525,000 — t provides for an annual base salary of $525,000, subject to annual review and adjustmen
• $1,000,000 — ncentive Program with a target value of $1,000,000 annually. Mr. Connaway's participation
• $5,000 — rovide consulting services at a rate of $5,000 per month. Mr. Gray has also agreed to

Filing Documents

• avnw-20240528.htm (8-K) — 45KB
• separationagreement05282024.htm (EX-10.1) — 15KB
• consultingagreement05282024.htm (EX-10.2) — 87KB
• pressrelease05282024.htm (EX-99.1) — 8KB
• image_0.jpg (GRAPHIC) — 45KB
• 0001377789-24-000024.txt ( ) — 396KB
• avnw-20240528.xsd (EX-101.SCH) — 2KB
• avnw-20240528_def.xml (EX-101.DEF) — 7KB
• avnw-20240528_lab.xml (EX-101.LAB) — 27KB
• avnw-20240528_pre.xml (EX-101.PRE) — 16KB
• avnw-20240528_htm.xml (XML) — 4KB

01. Other Events

Item 8.01. Other Events. On May 28, 2024, the Company issued a press release regarding the appointment of Mr. Connaway. A copy of the press release is attached as Exhibit 99.1 and is incorporated herein by reference.

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 10.1 Separation Agreement dated May 28, 2024 . 10.2 Consulting Agreement dated May 28, 2024 . 99.1 Press Release dated May 28, 2024. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. AVIAT NETWORKS, INC. Date: May 28, 2024 By: /s/ Peter A. Smith Name: Peter A. Smith Title: President and Chief Executive Officer

View Full Filing

View this 8-K filing on SEC EDGAR