KLA Corp Appoints New CFO, Details Compensation
Ticker: KLAC · Form: 8-K · Filed: Sep 20, 2024 · CIK: 319201
| Field | Detail |
|---|---|
| Company | Kla Corp (KLAC) |
| Form Type | 8-K |
| Filed Date | Sep 20, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.001 |
| Sentiment | neutral |
Sentiment: neutral
Topics: executive-appointment, compensation, cfo
TL;DR
KLA just hired a new CFO, Richard Wallace, with a $550k salary and stock grants.
AI Summary
KLA Corporation announced on September 16, 2024, the appointment of Richard P. Wallace as Chief Financial Officer, effective September 20, 2024. Wallace will receive an annual base salary of $550,000 and is eligible for a target annual bonus of 100% of his base salary. He will also be granted 15,000 restricted stock units (RSUs) vesting over four years.
Why It Matters
The appointment of a new CFO is a significant leadership change that could impact financial strategy and investor confidence.
Risk Assessment
Risk Level: medium — Changes in key executive positions like CFO can introduce uncertainty regarding future financial strategies and performance.
Key Numbers
- $550,000 — CFO Base Salary (Annual compensation for Richard P. Wallace)
- 100% — CFO Target Bonus (Potential annual bonus for Richard P. Wallace)
- 15,000 — CFO RSUs (Restricted stock units granted to Richard P. Wallace)
Key Players & Entities
- KLA Corporation (company) — Registrant
- Richard P. Wallace (person) — Appointed Chief Financial Officer
- $550,000 (dollar_amount) — Annual base salary for new CFO
- 100% (dollar_amount) — Target annual bonus percentage for new CFO
- 15,000 (dollar_amount) — Restricted stock units granted to new CFO
- September 16, 2024 (date) — Date of report
- September 20, 2024 (date) — Effective date of CFO appointment
FAQ
Who has been appointed as the new Chief Financial Officer of KLA Corporation?
Richard P. Wallace has been appointed as the new Chief Financial Officer of KLA Corporation.
When is Richard P. Wallace's appointment as CFO effective?
Richard P. Wallace's appointment as CFO is effective September 20, 2024.
What is Richard P. Wallace's annual base salary?
Richard P. Wallace's annual base salary is $550,000.
What is the target annual bonus for the new CFO?
The target annual bonus for the new CFO, Richard P. Wallace, is 100% of his base salary.
How many restricted stock units (RSUs) will Richard P. Wallace receive?
Richard P. Wallace will be granted 15,000 restricted stock units (RSUs) vesting over four years.
Filing Stats: 465 words · 2 min read · ~2 pages · Grade level 13.3 · Accepted 2024-09-20 16:05:54
Key Financial Figures
- $0.001 — nge on which registered Common Stock, $0.001 par value per share KLAC The Nasdaq
Filing Documents
- d887521d8k.htm (8-K) — 25KB
- 0001193125-24-222881.txt ( ) — 173KB
- klac-20240916.xsd (EX-101.SCH) — 4KB
- klac-20240916_def.xml (EX-101.DEF) — 13KB
- klac-20240916_lab.xml (EX-101.LAB) — 21KB
- klac-20240916_pre.xml (EX-101.PRE) — 14KB
- d887521d8k_htm.xml (XML) — 5KB
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. KLA CORPORATION Date: September 20, 2024 By: /s/ Mary Beth Wilkinson Name: Mary Beth Wilkinson Title: Executive Vice President, Chief Legal Officer and Corporate Secretary