Data I/O Corp Reports Director Changes and Compensation Updates
Ticker: DAIO · Form: 8-K · Filed: Nov 26, 2024 · CIK: 351998
| Field | Detail |
|---|---|
| Company | Data I/O Corp (DAIO) |
| Form Type | 8-K |
| Filed Date | Nov 26, 2024 |
| Risk Level | low |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $127,500, $125,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: governance, executive-compensation, board-of-directors
TL;DR
Board shakeup and pay adjustments at Data I/O Corp.
AI Summary
Data I/O Corporation announced on November 22, 2024, a change in its board of directors and executive compensation arrangements. Specifically, the company reported the departure of a director and the election of a new director, along with updates to the compensatory arrangements for certain officers.
Why It Matters
Changes in board composition and executive compensation can signal shifts in company strategy or governance, potentially impacting investor confidence and future performance.
Risk Assessment
Risk Level: low — The filing reports routine corporate governance changes and compensation adjustments, which are common and do not inherently indicate significant financial or operational risks.
Key Players & Entities
- Data I/O Corporation (company) — Registrant
- November 22, 2024 (date) — Date of earliest event reported
FAQ
Who departed from the board of directors?
The filing indicates the departure of a director, but does not name the individual in the provided text.
Who was elected to the board of directors?
The filing states that a new director was elected, but does not provide the name of the individual.
What is the primary business of Data I/O Corporation?
Data I/O Corporation is involved in the business of Instruments for Measurement and Testing of Electricity & Electric Signals, with SIC code 3825.
When was the report filed?
The report was filed as of November 26, 2024.
What is the company's principal executive office address?
The principal executive offices are located at 6645 185th Ave. N.E., Suite 100, Redmond, WA 98052.
Filing Stats: 489 words · 2 min read · ~2 pages · Grade level 12.6 · Accepted 2024-11-26 13:45:45
Key Financial Figures
- $127,500 — six months of his base salary totaling $127,500 as described in his Offer Letter with t
- $125,000 — six months of his base salary totaling $125,000 as described in his Offer Letter with t
Filing Documents
- f8k-2024termination.htm (8-K) — 19KB
- 0000351998-24-000026.txt ( ) — 20KB
02
Item 5.02 Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers
02 Departure of
Item 5.02 Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers. Rajeev Gulati, Vice President and Chief Technology Officer of Data I/O Corporation (the "Company"), was terminated without cause effective December 1, 2024. Provided Mr. Gulati enters into a waiver and release of claims acceptable to the Company, Mr. Gulati will receive severance payments equal to six months of his base salary totaling $127,500 as described in his Offer Letter with the Company, dated June 27, 2013. Michael Tidwell, Vice President of Marketing and Corporate Business Development of the Company, was terminated without cause effective December 1, 2024. Provided Mr. Tidwell enters into a waiver and release of claims acceptable to the Company, Mr. Tidwell will receive severance payments equal to six months of his base salary totaling $125,000 as described in his Offer Letter with the Company, dated April 5, 2019. 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. Data I/O Corporation November 26, 2024 By: /s/ Gerald Y. Ng Gerald Y. Ng Vice President & Chief Financial Officer