Azenta, Inc. Files 8-K: Operations, Officers, and Financials
Ticker: AZTA · Form: 8-K · Filed: Nov 12, 2024 · CIK: 933974
Sentiment: neutral
Topics: operations, officer-departure, director-election, financial-condition
Related Tickers: AZTA
TL;DR
Azenta 8-K: Financials updated, leadership changes announced.
AI Summary
Azenta, Inc. filed an 8-K on November 12, 2024, reporting on its results of operations and financial condition. The filing also disclosed the departure of directors or certain officers, the election of directors, the appointment of certain officers, and compensatory arrangements for certain officers. Additionally, it included financial statements and exhibits.
Why It Matters
This filing provides crucial updates on Azenta's financial performance and significant changes in its leadership and governance, impacting investor understanding of the company's direction.
Risk Assessment
Risk Level: medium — The filing covers a range of material events including financial results and executive changes, which can introduce uncertainty.
Key Players & Entities
- Azenta, Inc. (company) — Registrant
- Brooks Automation, Inc. (company) — Former Company Name
- November 12, 2024 (date) — Filing Date and Earliest Event Date
FAQ
What specific financial results are being reported by Azenta, Inc. in this 8-K?
The filing indicates it reports on 'Results of Operations and Financial Condition' but does not provide specific figures within the provided text.
Who are the directors or officers departing from Azenta, Inc. as mentioned in the filing?
The filing states 'Departure of Directors or Certain Officers' but does not name the individuals involved in the provided text.
Were there any new directors or officers elected or appointed by Azenta, Inc. on or before November 12, 2024?
Yes, the filing mentions 'Election of Directors' and 'Appointment of Certain Officers' as events reported.
What is the significance of the 'Compensatory Arrangements of Certain Officers' mentioned in the filing?
This indicates that the filing includes details regarding the compensation plans or agreements for specific executive officers of Azenta, Inc.
What is the former name of Azenta, Inc. and when did the name change occur?
Azenta, Inc. was formerly known as Brooks Automation, Inc., with a name change date of May 21, 2019.
Filing Stats: 1,552 words · 6 min read · ~5 pages · Grade level 11.8 · Accepted 2024-11-12 16:20:40
Key Financial Figures
- $0.01 — ge on which registered Common Stock , $0.01 par value AZTA The Nasdaq Stock Mark
- $540,000 — ntitled to (i) an annual base salary of $540,000, (ii) an annual cash bonus opportunity
- $1,998,000 m — stock units with a grant date value of $1,998,000 million, of which 50% will vest based on
- $250,000 — of grant, (iv) a new hire cash bonus of $250,000 , subject to 100% or 50% repayment if M
Filing Documents
- azta20240708_8k.htm (8-K) — 34KB
- ex_746624.htm (EX-10.1) — 119KB
- ex_746625.htm (EX-10.2) — 30KB
- ex_696150.htm (EX-99.1) — 1047KB
- image1.jpg (GRAPHIC) — 24KB
- image01.jpg (GRAPHIC) — 11KB
- image2.jpg (GRAPHIC) — 4KB
- 0001437749-24-034563.txt ( ) — 1515KB
- azta-20241112.xsd (EX-101.SCH) — 3KB
- azta-20241112_def.xml (EX-101.DEF) — 11KB
- azta-20241112_lab.xml (EX-101.LAB) — 15KB
- azta-20241112_pre.xml (EX-101.PRE) — 11KB
- azta20240708_8k_htm.xml (XML) — 3KB
02 Results of Operations and Financial Condition
Item 2.02 Results of Operations and Financial Condition On November 12, 2024, Azenta, Inc. ("Azenta" or the "Company") announced via press release its financial results for the fiscal quarter and year ended September 30, 2024. A copy of the press release is attached hereto as Exhibit 99.1. Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On November 12, 2024, Azenta, Inc. (the "Company") appointed Lawrence Lin as its Executive Vice President and Chief Financial Officer, effective as of Effective Time (as defined below), to succeed the Company's current Executive Vice President and Chief Financial Officer, Herman Cueto, who is departing from his role at the Company. Mr. Cueto is expected to remain the Company's Principal Financial Officer until the filing of the Company's Annual Report on Form 10-K for the fiscal year ended September 30, 2024, immediately after which time (the "Effective Time"), Mr. Lin will become the Company's Principal Financial Officer. Following the Effective Time, Mr. Cueto will remain with the Company as an employee advisor through December 1, 2024, and thereafter as a consultant to facilitate the transition in accordance with the terms of his arrangements as described below. In exchange for Mr. Cueto's execution and delivery of the release of claims against the Company and his service as a consultant during the period beginning on December 2, 2024 and ending on February 28, 2025 (or such earlier date as determined in Mr. Cueto's discretion) (the "Consulting Period"), pursuant to the terms of his transition and severance agreement and release dated as of November 12, 2024 (the "Transition Agreement"), following the expiration of the Consulting Period, Mr. Cueto will be eligible to receive, in addition the amounts payable to him in the event of a termination without cause under the terms his offer letter with the Company dated Sept
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits (d) Exhibits EXHIBIT NUMBER DESCRIPTION 99.1 Earnings press release issued on November 12, 2024 by Azenta, Inc. 10.1 Transition and Severance Agreement and Release dated November 12, 2024 between Azenta, Inc. and Herman Cueto 10.2 Offer Letter, dated November 11, 2024, between Azenta, Inc. and Lawrence Lin 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. AZENTA, INC. /s/ Jason W. Joseph Date: November 12, 2024 Jason W. Joseph Senior Vice President, General Counsel and Secretary