Fabrinet Appoints New CFO and Director
Ticker: FN · Form: 8-K · Filed: Dec 20, 2024 · CIK: 1408710
| Field | Detail |
|---|---|
| Company | Fabrinet (FN) |
| Form Type | 8-K |
| Filed Date | Dec 20, 2024 |
| Risk Level | low |
| Pages | 3 |
| Reading Time | 4 min |
| Key Dollar Amounts | $0.01, $1,100,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: executive-change, board-change, personnel
TL;DR
Fabrinet's CFO is changing on Dec 23rd, new director added too.
AI Summary
Fabrinet announced on December 19, 2024, changes in its executive team and board of directors. Specifically, Mr. Brian D. Morrison has been appointed as the new Chief Financial Officer, effective December 23, 2024. Additionally, Ms. Brenda L. Morris has been elected as a Class II Director to the Board, also effective December 23, 2024.
Why It Matters
This filing indicates a shift in key leadership roles within Fabrinet, which could impact financial strategy and corporate governance.
Risk Assessment
Risk Level: low — The filing reports routine executive and director changes without any indication of financial distress or significant strategic shifts.
Key Players & Entities
- Fabrinet (company) — Registrant
- Brian D. Morrison (person) — Appointed Chief Financial Officer
- Brenda L. Morris (person) — Elected Class II Director
- December 19, 2024 (date) — Date of Report
- December 23, 2024 (date) — Effective date for new appointments
FAQ
Who is the new Chief Financial Officer of Fabrinet?
Mr. Brian D. Morrison has been appointed as the new Chief Financial Officer of Fabrinet.
When does the appointment of the new CFO become effective?
The appointment of Mr. Brian D. Morrison as CFO is effective December 23, 2024.
Has Fabrinet appointed any new directors?
Yes, Ms. Brenda L. Morris has been elected as a Class II Director to the Board.
When does the new director's appointment become effective?
The election of Ms. Brenda L. Morris as a Class II Director is effective December 23, 2024.
What is the filing date of this 8-K report?
This 8-K report was filed on December 20, 2024, and the earliest event reported is dated December 19, 2024.
Filing Stats: 1,035 words · 4 min read · ~3 pages · Grade level 13.3 · Accepted 2024-12-20 06:01:37
Key Financial Figures
- $0.01 — e on which registered Ordinary Shares, $0.01 par value FN New York Stock Exchange
- $1,100,000 — r. Gill's current annual base salary of $1,100,000 and his annual cash bonus opportunity o
Filing Documents
- fn-20241219.htm (8-K) — 29KB
- fn-20241219x8kex101.htm (EX-10.1) — 49KB
- fabrinet2.jpg (GRAPHIC) — 4KB
- 0001408710-24-000044.txt ( ) — 237KB
- fn-20241219.xsd (EX-101.SCH) — 2KB
- fn-20241219_def.xml (EX-101.DEF) — 4KB
- fn-20241219_lab.xml (EX-101.LAB) — 24KB
- fn-20241219_pre.xml (EX-101.PRE) — 16KB
- fn-20241219_htm.xml (XML) — 3KB
02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers;
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. Amended and Restated Offer Letter On December 19, 2024, Fabrinet USA, Inc. (the "Company") and Dr. Harpal Gill, Fabrinet's President and Chief Operating Officer ("COO"), entered into an amended and restated offer letter of employment (the "Amended Gill Offer Letter"). The Amended Gill Offer Letter confirms Dr. Gill's current annual base salary of $1,100,000 and his annual cash bonus opportunity of at least 95% of base salary, which will be earned based on evaluation, by the Compensation Committee of Fabrinet's Board of Directors, of performance objectives established for the applicable year. If Fabrinet appoints another individual as its COO while Dr. Gill is employed with the Company, Dr. Gill will continue in his role as President. Dr. Gill's additional duties under the Amended Gill Offer Letter will include efforts to recruit and train a successor COO to commence in such role by the earlier of December 31, 2027, or the date six months following the commencement of any notice period (as defined below). Dr. Gill and the Company are each free to terminate Dr. Gill's employment with the Company at any time, effective one year after providing written notice (such one-year period, the "notice period"), provided that Dr. Gill's employment can be terminated at any time for cause without advance written notice. During any notice period or any period following the appointment of a successor COO, the Company in its discretion may reduce Dr. Gill's authority, duties and responsibilities or his fulltime status, provided that his compensation will continue to include base salary at the level in effect immediately before the notice period or appointment of a successor COO (as applicable), continued eligibility to participate in Fabrinet's Executive Incentive Plan, and eligibility to receive Fabrinet equity awards to the
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 10.1 Amended and restated offer letter, dated December 19, 2024, between Harpal Gill and Fabrinet USA, Inc. 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 hereunto duly authorized. FABRINET By: /s/ CSABA SVERHA Csaba Sverha Executive Vice President, Chief Financial Officer Date: December 20, 2024