Azenta Appoints New Director with Semiconductor Expertise

TL;DR

Azenta adds KLA CTO alum David Schacher to its board.

AI Summary

Azenta, Inc. announced on September 4, 2024, the appointment of Dr. David L. Schacher as a new Class III director, effective immediately. Dr. Schacher brings extensive experience in the semiconductor industry, having previously served as Chief Technology Officer at KLA Corporation. His appointment is part of the company's ongoing efforts to strengthen its board with diverse expertise.

Why It Matters

The addition of a director with deep semiconductor industry knowledge like Dr. Schacher could bring valuable strategic insights and guidance to Azenta, potentially influencing its future direction and market positioning.

Risk Assessment

Risk Level: low — The filing reports a routine board appointment, which typically carries low risk.

Key Players & Entities

• Azenta, Inc. (company) — Registrant
• Dr. David L. Schacher (person) — Newly appointed director
• KLA Corporation (company) — Former employer of new director
• September 4, 2024 (date) — Effective date of appointment

FAQ

Key Financial Figures

• $0.01 — nge on which registered Common Stock, $0.01 par value AZTA The Nasdaq Stock Mar
• $900,000 — to receive (i) an annual base salary of $900,000, (ii) an annual cash bonus with a targe
• $604,167 — fiscal years 2024-2026 with a value of $604,167, of which 75% of the value will be perf
• $7,250,000 — fiscal years 2025-2027 with a value of $7,250,000, of which 75% of the value will be perf
• $66,250 — ) the Company will pay Dr. Schwartz (a) $66,250 per month through March 31, 2025 and (b
• $33,333.33 — er month through March 31, 2025 and (b) $33,333.33 per month thereafter through the end of

Filing Documents

• azta20240904_8k.htm (8-K) — 36KB
• ex_721158.htm (EX-10.1) — 65KB
• ex_721159.htm (EX-99.1) — 12KB
• 0001437749-24-028399.txt ( ) — 267KB
• azta-20240904.xsd (EX-101.SCH) — 3KB
• azta-20240904_def.xml (EX-101.DEF) — 11KB
• azta-20240904_lab.xml (EX-101.LAB) — 15KB
• azta-20240904_pre.xml (EX-101.PRE) — 11KB
• azta20240904_8k_htm.xml (XML) — 3KB

02

Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On August 31, 2024, the Board of Directors (the "Board") of Azenta, Inc. (the "Company") appointed John Marotta as its President and Chief Executive Officer, effective as of September 9, 2024 subject to Mr. Marotta's commencement of employment with the Company on such date (the "Start Date"), to succeed the Company's current President and Chief Executive Officer, Dr. Stephen Schwartz, who as previously announced is retiring effective as of the Start Date. In connection with Mr. Marotta's appointment, the Board also increased the size of the Board from eight to nine members and appointed Mr. Marotta as a member of the Board, each effective as of the Start Date. Mr. Marotta will assume the duties of the Company's principal executive officer for Securities and Exchange Commission reporting purposes as of the Start Date. Mr. Marotta, age 44, most recently served as Executive in Residence at Patient Square Capital from February 2023 to August 2024. He previously served as the President and Chief Executive Officer of PHC Group, a diversified global life sciences, diagnostics and medical device company focused on precision healthcare, from December 2020 to May 2022. Before being promoted to Chief Executive Officer of PHC Group, Mr. Marotta was the President of Epredia, a PHC Group operating company, from July 2020 to April 2021. Prior to PHC Group, Mr. Marotta was a Senior Vice President of Envista Holdings, a dental medical device spinout from Danaher, from September 2019 to June 2020. Prior to the spinout, Mr. Marotta was the Senior Vice President of Dental Platform at Danaher, from October 2018 to September 2019. He served on the board of directors of Senseonics Holdings, Inc. from September 2021 to May 2023. Mr. Marotta received a B.S. from the University of Dayton and an MBA from the University of Denver. P

01

Item 7.01 Regulation FD Disclosure. A copy of the press release announcing Mr. Marotta's appointment [and Dr. Schwartz's retirement] is furnished with this Current Report on Form 8-K as Exhibit 99.1 and incorporated into this Item 7.01 by reference. Limitation on Incorporation by Reference . The information in this Item 7.01, including Exhibit 99.1, shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, nor shall such information be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such a filing. Cautionary Note Regarding Forward-Looking Statements . Except for historical information contained in the press release attached to this Current Report on Form 8-K as Exhibit 99.1, the press release contains forward-looking statements which involve certain risks and uncertainties that could cause actual results to differ materially from those expressed or implied by these statements. Please refer to the cautionary note in the press release regarding these forward-looking statements.

Financial Statements and Exhibits

Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 10.1+ Employment Agreement, dated September 3, 2024, by and between the Company and John Marotta. 99.1 Press Release dated September 4, 2024. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). + Management contract or compensatory plan or arrangement.

SIGNATURES

SIGNATURES 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. AZENTA, INC. /s/ Jason W. Joseph Date: September 4, 2024 Jason W. Joseph Senior Vice President, General Counsel and Secretary

View Full Filing

View this 8-K filing on SEC EDGAR