GSI Tech Files 8-K on Officer/Director Changes; Details Pending
Ticker: GSIT · Form: 8-K · Filed: Jan 30, 2024 · CIK: 1126741
| Field | Detail |
|---|---|
| Company | Gsi Technology Inc (GSIT) |
| Form Type | 8-K |
| Filed Date | Jan 30, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.001 |
| Sentiment | neutral |
Complexity: simple
Sentiment: neutral
Topics: corporate-governance, executive-changes, compensation
TL;DR
**GSI Technology filed an 8-K about officer/director changes, but the filing lacks specific details.**
AI Summary
GSI Technology, Inc. filed an 8-K on January 30, 2024, reporting an event that occurred on January 29, 2024. This filing indicates a current report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934, specifically related to 'Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers'. While the filing confirms the company's details like its address at 1213 Elko Drive, Sunnyvale, California, and its Nasdaq trading symbol GSIT, it does not provide specific names, dollar amounts, or detailed changes regarding officers or directors. This matters to investors because changes in leadership or compensation structures can signal strategic shifts or financial health, but without specifics, the impact is unclear.
Why It Matters
Changes in executive leadership or their compensation can significantly influence a company's direction and performance, directly impacting shareholder value. Investors need to monitor these events for potential strategic shifts or governance concerns.
Risk Assessment
Risk Level: medium — The filing indicates significant corporate governance changes (officer/director departure/election/compensation) but lacks specific details, creating uncertainty for investors.
Analyst Insight
A smart investor would monitor subsequent filings or company announcements for specific details regarding the officer/director changes and compensation arrangements, as this 8-K only signals the event without providing actionable specifics.
Key Numbers
- $0.001 — par value per share (the stated par value of GSI Technology's Common Stock)
Key Players & Entities
- GSI Technology, Inc. (company) — the registrant filing the 8-K
- Nasdaq Stock Market LLC (company) — the exchange where GSI Technology's common stock is registered
- January 29, 2024 (date) — date of the earliest event reported
- January 30, 2024 (date) — date the 8-K was filed
- 001-33387 (other) — Commission File No. for GSI Technology
FAQ
What specific event triggered GSI Technology's 8-K filing on January 30, 2024?
The 8-K filing was triggered by an event on January 29, 2024, related to 'Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers'.
What is the trading symbol for GSI Technology, Inc. and on which exchange is it registered?
GSI Technology, Inc.'s trading symbol is GSIT, and its common stock is registered on The Nasdaq Stock Market LLC.
What is the business address of GSI Technology, Inc. as stated in the filing?
The business address of GSI Technology, Inc. is 1213 Elko Drive, Sunnyvale, California 94089.
Does this 8-K filing provide specific names of officers or directors involved in the reported changes?
No, this 8-K filing indicates the category of events (Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers) but does not provide specific names or detailed information about the individuals involved.
What is the par value of GSI Technology's Common Stock?
The par value of GSI Technology's Common Stock is $0.001 per share.
Filing Stats: 510 words · 2 min read · ~2 pages · Grade level 11.6 · Accepted 2024-01-30 16:12:28
Key Financial Figures
- $0.001 — ge on which registered: Common Stock, $0.001 par value GSIT The Nasdaq Stock Mar
Filing Documents
- tm244593d1_8k.htm (8-K) — 25KB
- 0001104659-24-008242.txt ( ) — 192KB
- gsit-20240129.xsd (EX-101.SCH) — 3KB
- gsit-20240129_lab.xml (EX-101.LAB) — 33KB
- gsit-20240129_pre.xml (EX-101.PRE) — 22KB
- tm244593d1_8k_htm.xml (XML) — 3KB
02 Departure of Directors or Certain Officers; Election of
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. (e) As part of the cost reduction initiatives of GSI Technology, Inc. (the "Company") that were first announced in November 2022 pursuant to which the Company's President and Chief Executive Officer agreed to a thirty percent (30%) reduction in base salary and other officers, including the Company's Chief Financial Officer and Vice President, Sales, agreed to a ten percent (10%) reduction in base salary , the Board of Directors of the Company approved the grant of options to purchase shares of the Company's common stock (the "Stock Options") pursuant to the Company's 2016 Equity Incentive Plan, as amended, to the named executive officers as follows: Name Title No. of Options Lee-Lean Shu President and Chief Executive Officer 150,000 Douglas M. Schirle Chief Financial Officer 20,000 Didier Lasserre Vice President, Sales 20,000 The grant of the Stock Options was effective on January 29, 2024, and the Stock Options will vest in full on December 1, 2024.
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. Date: January 30, 2024 GSI Technology, Inc. By: /s/ Douglas M. Schirle Douglas M. Schirle Chief Financial Officer