Harmonic Inc. CFO Departs, New Directors Appointed
Ticker: HLIT · Form: 8-K · Filed: Apr 18, 2024 · CIK: 851310
| Field | Detail |
|---|---|
| Company | Harmonic Inc (HLIT) |
| Form Type | 8-K |
| Filed Date | Apr 18, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.001 |
| Sentiment | neutral |
Sentiment: neutral
Topics: executive-departure, board-changes, cfo-appointment
Related Tickers: HLIT
TL;DR
Harmonic's CFO is out, new board members in. Expecting some strategic shifts.
AI Summary
Harmonic Inc. announced on April 15, 2024, the departure of its Chief Financial Officer, Michael R. Murphy. The company has appointed Todd Honan as interim CFO. Additionally, Harmonic Inc. has elected two new directors, David L. Hall and David L. Schultz, to its Board of Directors, effective April 15, 2024.
Why It Matters
Changes in key executive and board positions can signal shifts in company strategy or financial oversight, potentially impacting investor confidence and future performance.
Risk Assessment
Risk Level: medium — Executive departures and board changes can introduce uncertainty regarding future strategy and financial management.
Key Players & Entities
- Harmonic Inc. (company) — Registrant
- Michael R. Murphy (person) — Departing Chief Financial Officer
- Todd Honan (person) — Interim Chief Financial Officer
- David L. Hall (person) — Newly Elected Director
- David L. Schultz (person) — Newly Elected Director
- April 15, 2024 (date) — Effective date of changes
FAQ
Who has been appointed as the interim Chief Financial Officer of Harmonic Inc.?
Todd Honan has been appointed as the interim Chief Financial Officer of Harmonic Inc.
When was the departure of Michael R. Murphy from Harmonic Inc. effective?
The filing indicates the earliest event reported was April 15, 2024, which is the effective date for the reported changes including the departure of Michael R. Murphy.
Who are the newly elected directors to Harmonic Inc.'s Board?
David L. Hall and David L. Schultz have been elected as new directors to Harmonic Inc.'s Board.
What is Harmonic Inc.'s principal executive office address?
Harmonic Inc.'s principal executive offices are located at 2590 Orchard Parkway, San Jose, CA 95131.
What is the Commission File Number for Harmonic Inc.?
The Commission File Number for Harmonic Inc. is 000-25826.
Filing Stats: 564 words · 2 min read · ~2 pages · Grade level 11.7 · Accepted 2024-04-18 16:08:01
Key Financial Figures
- $0.001 — ich registered Common Stock, par value $0.001 per share HLIT The NASDAQ Global Select
Filing Documents
- hlit-20240415.htm (8-K) — 30KB
- exhibit101separationagreem.htm (EX-10.1) — 77KB
- 0000851310-24-000032.txt ( ) — 245KB
- hlit-20240415.xsd (EX-101.SCH) — 3KB
- hlit-20240415_lab.xml (EX-101.LAB) — 21KB
- hlit-20240415_pre.xml (EX-101.PRE) — 12KB
- hlit-20240415_htm.xml (XML) — 3KB
02 Departure of Certain Officers; Appointment of Certain Officers
Item 5.02 Departure of Certain Officers; Appointment of Certain Officers Harmonic Inc. (the "Company") announced today that Ian Graham has stepped down from the role of Senior Vice President, Global Sales and will be leaving the Company effective July 5, 2024. In connection with the termination of his employment, Mr. Graham has entered into a settlement agreement with the Company (the "Settlement Agreement"), which provides, among other things, for a release of claims in favor of the Company, continued confidentiality of Company proprietary information, and mutual nondisparagement obligations, in exchange for Mr. Graham's right to receive (1) a cash severance in the amount of 12 months of base salary, or 265,601.70 and (2) continued coverage under specified health benefit programs for 12 months following Mr. Graham's termination date. Such description of the severance benefits above does not purport to be complete and is subject to, and qualified in its entirety by, the full text of the Settlement Agreement, a copy of which has attached hereto as Exhibit 10.1 and is incorporated into this Item 5.02 by reference.
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits. (d) Exhibits. Exhibit Number Description 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) 10.1 Settlement Agreement by and between the Company and Ian Graham dated April 15, 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: April 15, 2024 HARMONIC INC. By: /s/ Timothy Chu Timothy Chu General Counsel, SVP HR and Corporate Secretary