GSI Technology Appoints Todd W. Willer as CFO
Ticker: GSIT · Form: 8-K · Filed: May 31, 2024 · CIK: 1126741
| Field | Detail |
|---|---|
| Company | Gsi Technology Inc (GSIT) |
| Form Type | 8-K |
| Filed Date | May 31, 2024 |
| Risk Level | low |
| Pages | 2 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.001, $275,000, $137,500 |
| Sentiment | neutral |
Sentiment: neutral
Topics: executive-appointment, cfo
TL;DR
GSI Tech names Todd W. Willer as new CFO, effective immediately.
AI Summary
GSI Technology, Inc. announced on May 28, 2024, the appointment of Todd W. Willer as its new Chief Financial Officer, effective immediately. Willer previously served as the company's Vice President of Finance and Corporate Controller. The company also reported that its fiscal year ends on March 31st.
Why It Matters
The appointment of a new CFO is a significant leadership change that can impact financial strategy and investor confidence.
Risk Assessment
Risk Level: low — This filing primarily concerns an executive appointment and does not disclose significant financial or operational changes.
Key Numbers
- 0331 — Fiscal Year End (Indicates the end of the company's financial reporting year.)
Key Players & Entities
- GSI Technology, Inc. (company) — Registrant
- Todd W. Willer (person) — Appointed Chief Financial Officer
- May 28, 2024 (date) — Effective date of appointment
- 408-331-8800 (phone_number) — Registrant's telephone number
FAQ
Who has been appointed as the new Chief Financial Officer of GSI Technology, Inc.?
Todd W. Willer has been appointed as the new Chief Financial Officer of GSI Technology, Inc.
When was the appointment of the new CFO effective?
The appointment of Todd W. Willer as CFO was effective immediately as of May 28, 2024.
What was Todd W. Willer's previous role at GSI Technology, Inc.?
Prior to his appointment as CFO, Todd W. Willer served as the company's Vice President of Finance and Corporate Controller.
What is the fiscal year end for GSI Technology, Inc.?
GSI Technology, Inc.'s fiscal year ends on March 31st.
What is the principal executive office address for GSI Technology, Inc.?
The principal executive offices of GSI Technology, Inc. are located at 1213 Elko Drive, Sunnyvale, California 94089.
Filing Stats: 702 words · 3 min read · ~2 pages · Grade level 11.6 · Accepted 2024-05-31 16:05:26
Key Financial Figures
- $0.001 — ge on which registered: Common Stock, $0.001 par value GSIT The Nasdaq Stock Mar
- $275,000 — hief Executive Officer and Chairman, is $275,000, and the target bonus for each of the o
- $137,500 — each of the other executive officers is $137,500. The actual bonus awards will be comput
Filing Documents
- tm2416008d1_8k.htm (8-K) — 26KB
- tm2416008d1_ex10-1.htm (EX-10.1) — 25KB
- 0001104659-24-067137.txt ( ) — 226KB
- gsit-20240528.xsd (EX-101.SCH) — 3KB
- gsit-20240528_lab.xml (EX-101.LAB) — 33KB
- gsit-20240528_pre.xml (EX-101.PRE) — 22KB
- tm2416008d1_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. On May 28, 2024, the Compensation Committee of the Board of Directors of GSI Technology, Inc. (the "Company") adopted the Company's 2025 Variable Compensation Plan (the "2025 Plan"), which is similar in structure to previous variable compensation plans for the Company's executive officers. The 2025 Plan is designed to encourage performance and retention of eligible employees by providing cash bonus awards based on the Company's performance during the fiscal year ending March 31, 2025. Each of the Company's executive officers is eligible to participate in the 2025 Plan. Certain other non-executive officers and key employees are also eligible to participate. Under the 2025 Plan, each participant has a designated target bonus. The target bonus for Lee-Lean Shu, the Company's President, Chief Executive Officer and Chairman, is $275,000, and the target bonus for each of the other executive officers is $137,500. The actual bonus awards will be computed on the basis of the Company's achievement of performance criteria based on net revenues, including achieving specified revenue targets and/or research and development funding recorded as an offset to research and development expense for the Company's Associative Processing Unit (APU) products. The amounts payable under the 2025 Plan will be increased or decreased based upon the Company achieving or missing the overall net revenue target and the APU net revenue target. If the target performance goals are exceeded, the actual bonus awards payable to participants may be up to two times the target bonus. Bonus awards under the 2025 Plan are subject to vesting based on the participant's continued employment with the Company, with 60% becoming vested and payable on the last business day in April 2025 and 20% becoming vested and payable on the last business day of April in
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits Exhibit No. Description 10.1 GSI Technology, Inc. 2025 Variable Compensation Plan 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) 2
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: May 31, 2024 GSI Technology, Inc. By: /s/ Douglas M. Schirle Douglas M. Schirle Chief Financial Officer 3