Benchmark Electronics Files 8-K for Operations and Officer Changes

TL;DR

Benchmark Electronics dropped an 8-K detailing financials and exec changes. Check it out.

AI Summary

Benchmark Electronics, Inc. filed an 8-K on March 19, 2024, to report on its results of operations and financial condition. The filing also covers the departure of directors or certain officers, election of directors, appointment of certain officers, and compensatory arrangements. Additionally, it includes a Regulation FD disclosure and financial statements and exhibits.

Why It Matters

This filing provides crucial updates on Benchmark Electronics' financial performance and significant corporate governance changes, impacting investor understanding of the company's direction.

Risk Assessment

Risk Level: medium — The filing involves financial results and changes in corporate officers, which can introduce uncertainty and affect stock performance.

Key Players & Entities

• BENCHMARK ELECTRONICS, INC. (company) — Registrant
• March 19, 2024 (date) — Date of earliest event reported
• Texas (jurisdiction) — State of Incorporation
• Tempe, Arizona (location) — Principal Executive Offices

FAQ

Key Financial Figures

• $0.10 — ch registered Common Stock, par value $0.10 per share BHE The New York Stock Ex
• $10,500 — approved an additional cash stipend of $10,500 per month. Mr. Kamal will also receive
• $100,000 — h his service as interim CFO and PAO of $100,000 of restricted stock units that vest ove

Filing Documents

• bhe-20240319.htm (8-K) — 46KB
• bhe-ex99_1.htm (EX-99.1) — 16KB
• 0000950170-24-033489.txt ( ) — 179KB
• bhe-20240319.xsd (EX-101.SCH) — 24KB
• bhe-20240319_htm.xml (XML) — 5KB

02 Results of Operations and Financial Condition

Item 2.02 Results of Operations and Financial Condition. Based on management's current outlook, on March 19, 2024, the Company issued a press release that, among other things, reiterated the Company's revenue and non-GAAP earnings expectations for the first quarter ending 2024 guidance. This guidance is consistent with that which was provided with the Company's fourth quarter and fiscal year 2023 earnings announcement on January 31, 2024. The full text of the press release issued in connection with the announcement is furnished as Exhibit 99.1 to this Current Report on Form 8-K. The information included under this Item 2.02 (including Exhibit 99.1) shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act") or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended (the "Securities Act"), or the Exchange Act, except as may be expressly set forth by specific reference in such filing. Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On March 19, 2024, Benchmark Electronics, Inc. (NYSE: BHE) announced that Roop K. Lakkaraju, Executive Vice President and Chief Financial Officer ("CFO") and Principal Accounting Officer ("PAO"), intends to resign from his position effective April 1, 2024 to pursue a professional opportunity outside of Benchmark. Mr. Lakkaraju has served in his current capacity since joining the Company in January 2018. Mr. Lakkaraju's departure is not the result of any disagreement with the Company or its Board of Directors (the "Board") on any matters relating to the Company's operations, policies or practices. The Company will be conducting a formal search process to identify its next CFO and PAO. Effective April 1, 2024, Arvind Kamal, who has served as the Vice Presi

01 Regulation FD Disclosure

Item 7.01 Regulation FD Disclosure. On March 19, 2024, the Company issued a press release regarding the foregoing executive transitions described in Item 5.02 of this Current Report on Form 8-K. A copy of the press release is furnished herewith as Exhibit 99.1. The information in this Item 7.01 of this Current Report on Form 8-K (including Exhibit 99.1) shall not be deemed "filed" for purposes of Section 18 of the Exchange Act or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act, or the Exchange Act, except as may be expressly set forth by specific reference in such a filing.

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 99.1 Press release, dated March 19, 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

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 thereunto duly authorized. BENCHMARK ELECTRONICS, INC. Date: March 19, 2024 By: /s/ Stephen J. Beaver Stephen J. Beaver, Esq. Senior Vice President, General Counsel and Chief Legal Officer

View Full Filing

View this 8-K filing on SEC EDGAR