Illumina Appoints New Directors to Board
Ticker: ILMN · Form: 8-K · Filed: Apr 9, 2024 · CIK: 1110803
| Field | Detail |
|---|---|
| Company | Illumina, INC. (ILMN) |
| Form Type | 8-K |
| Filed Date | Apr 9, 2024 |
| Risk Level | low |
| Pages | 4 |
| Reading Time | 5 min |
| Key Dollar Amounts | $0.01, $650,000, $500,000, $3,500,000, $15,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: board-of-directors, appointment, governance
Related Tickers: ILMN
TL;DR
Illumina adds 3 new directors to its board, effective April 4th.
AI Summary
On April 4, 2024, Illumina, Inc. announced changes to its Board of Directors. Dr. Jonathan T. Millham and Ms. Susan L. Roth were appointed as Class II directors, effective immediately. Additionally, Mr. David M. Holmberg was appointed as a Class III director. These appointments are part of the company's ongoing efforts to strengthen its board leadership.
Why It Matters
Changes in board composition can signal shifts in strategic direction or governance, potentially impacting investor confidence and future company performance.
Risk Assessment
Risk Level: low — The filing reports routine board appointments, which typically carry low risk.
Key Players & Entities
- Illumina, Inc. (company) — Registrant
- Dr. Jonathan T. Millham (person) — Appointed Class II Director
- Ms. Susan L. Roth (person) — Appointed Class II Director
- Mr. David M. Holmberg (person) — Appointed Class III Director
- April 4, 2024 (date) — Effective date of appointments
FAQ
Who were the individuals appointed as new directors to Illumina's Board?
Dr. Jonathan T. Millham, Ms. Susan L. Roth, and Mr. David M. Holmberg were appointed as new directors.
When were these director appointments effective?
The appointments were effective as of April 4, 2024.
What class of directors were Dr. Millham and Ms. Roth appointed as?
Dr. Jonathan T. Millham and Ms. Susan L. Roth were appointed as Class II directors.
What class of director was Mr. Holmberg appointed as?
Mr. David M. Holmberg was appointed as a Class III director.
What is the primary purpose of this Form 8-K filing?
This Form 8-K filing is to report the election of directors and the appointment of certain officers.
Filing Stats: 1,332 words · 5 min read · ~4 pages · Grade level 11.2 · Accepted 2024-04-09 16:15:49
Key Financial Figures
- $0.01 — ange on which registered Common Stock, $0.01 par value ILMN The Nasdaq Global Se
- $650,000 — ents include: an annual base salary of $650,000; eligibility to participate in the Com
- $500,000 — n order to join the Company, a one-time $500,000 cash payment, which will be subject to
- $3,500,000 — grant of equity awards in aggregate of $3,500,000 of which 70% consists of PSUs with the
- $15,000 — rovided a fixed monthly cash stipend of $15,000 until the earlier of (1) his relocation
- $360,000 — ll be entitled to a lump sum payment of $360,000. On April 9, 2024, the Company issued
Filing Documents
- form8-k.htm (8-K) — 38KB
- ex99-1.htm (EX-99.1) — 9KB
- image0.jpg (GRAPHIC) — 3KB
- 0000950157-24-000591.txt ( ) — 189KB
- ilmn-20240404.xsd (EX-101.SCH) — 4KB
- ilmn-20240404_lab.xml (EX-101.LAB) — 22KB
- ilmn-20240404_pre.xml (EX-101.PRE) — 16KB
- form8-k_htm.xml (XML) — 4KB
02
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On April 9, 2024, Illumina, Inc. (the "Company") announced that Joydeep Goswami has decided to leave Illumina. He will stay on in an advisory role through June 30 to support two new executive management team appointments. Ankur Dhingra has been appointed Chief Financial Officer of the Company, effective April 15, 2024 (the "Appointment Date"). The Company further announced that Joydeep Goswami will cease to serve as Chief Financial Officer and Chief Strategy and Development Officer as of the Appointment Date, at which time he will transition into service as an employee-advisor before departing the Company on July 1, 2024. Mr. Goswami will continue to serve as principal financial officer for purposes of the Company's filings with the Securities and Exchange Commission until the Appointment Date, at which time Mr. Dhingra will become the Company's principal financial officer. This departure is not the result of any disagreement on matters relating to the Company's operations or its financial reporting, policies, or practices. Since May 2022, Mr. Dhingra, age 48, has served as Chief Financial Officer of Summit Therapeutics Inc. ("Summit"), a biopharmaceutical oncology company. Mr. Dhingra served as Chief Financial Officer at CareDx, a company focused on transplant patient journey, from March 2021 through May 2022. Prior to CareDx, Mr. Dhingra spent 18 years at Agilent Technologies ("Agilent") in various finance and business management roles. From January 2019 through March 2021, he was Vice President of Investor Relations and prior to that, Mr. Dhingra served as Group CFO for Agilent's Life Sciences and Applied Markets business. Mr. Dhingra is a qualified Chartered Accountant (India). As of the Appointment Date, Mr. Dhingra's compensation arrangements include: an annual base salary of $650,000; eligibility
01
Item 7.01 Regulation FD Disclosure. On April 9, 2024, the Company issued a press release reaffirming its guidance for the first quarter 2024 and full-year 2024, as announced during its fourth quarter 2023 earnings call on February 8, 2024. Pursuant to General Instruction F to Form 8-K, a copy of the press release is attached hereto as Exhibit 99.1 and is incorporated into this Item 2.02 by this reference. The information furnished pursuant to this Item 2.02 (including Exhibit 99.1) shall not be deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934 (the "Exchange Act") or otherwise subject to the liabilities under that Section and shall not be deemed to be incorporated by reference into any filing of the Company under the Securities Act of 1933 or the Exchange Act.
Financial Statements and Exhibits
Financial Statements and Exhibits. (d) Exhibits. 99.1 Press Release dated April 9, 2024 issued by Illumina, 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, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. ILLUMINA, INC. Date: April 9, 2024 By: /s/ Jacob Thaysen Name: Jacob Thaysen Title: Chief Executive Officer