Everspin Technologies Announces Board and Executive Changes
Ticker: MRAM · Form: 8-K · Filed: Jan 8, 2025 · CIK: 1438423
| Field | Detail |
|---|---|
| Company | Everspin Technologies Inc (MRAM) |
| Form Type | 8-K |
| Filed Date | Jan 8, 2025 |
| Risk Level | low |
| Pages | 4 |
| Reading Time | 5 min |
| Key Dollar Amounts | $0.0001 M, $300,000, $45,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: governance, executive-compensation, board-changes
TL;DR
Everspin board shakeup and exec comp changes filed Jan 6.
AI Summary
Everspin Technologies, Inc. announced on January 6, 2025, changes in its board of directors and executive compensation arrangements. The filing details the departure of a director and the election of a new director, along with updates to the compensatory arrangements for certain officers.
Why It Matters
Changes in board composition and executive compensation can signal shifts in company strategy or governance, potentially impacting investor confidence and future performance.
Risk Assessment
Risk Level: low — This filing primarily concerns routine corporate governance and executive compensation updates, with no immediate financial or operational risks indicated.
Key Players & Entities
- Everspin Technologies, Inc. (company) — Registrant
- January 6, 2025 (date) — Date of earliest event reported
FAQ
Who departed from the board of directors?
The filing indicates the departure of a director, though the specific name is not detailed in the provided text.
Was a new director elected?
Yes, the filing states the election of a new director.
What other significant event was reported?
The filing also reports on compensatory arrangements of certain officers.
What is the principal executive office address for Everspin Technologies?
The principal executive offices are located at 5670 W. Chandler Blvd., Suite 130, Chandler, Arizona 85226.
What is the filing date for this Form 8-K?
The Form 8-K was filed as of January 8, 2025, reporting events as of January 6, 2025.
Filing Stats: 1,289 words · 5 min read · ~4 pages · Grade level 12.7 · Accepted 2025-01-08 16:08:17
Key Financial Figures
- $0.0001 M — ch registered Common Stock, par value $0.0001 MRAM The Nasdaq Stock Market LLC Indi
- $300,000 — ing terms: (i) an annual base salary of $300,000 (the "Base Salary"), (ii) an annual tar
- $45,000 — f a one-year period, a sign-on bonus of $45,000, and (iv) subject to approval by the Co
Filing Documents
- tm251884d1_8k.htm (8-K) — 34KB
- tm251884d1_ex10-1.htm (EX-10.1) — 12KB
- tm251884d1_ex99-1.htm (EX-99.1) — 9KB
- tm251884d1_ex10-1img001.jpg (GRAPHIC) — 14KB
- tm251884d1_ex99-1img001.jpg (GRAPHIC) — 4KB
- 0001104659-25-002026.txt ( ) — 259KB
- mram-20250106.xsd (EX-101.SCH) — 3KB
- mram-20250106_lab.xml (EX-101.LAB) — 33KB
- mram-20250106_pre.xml (EX-101.PRE) — 22KB
- tm251884d1_8k_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. Appointment of Chief Financial Officer Effective January 6, 2025 (the "Appointment Date"), Everspin Technologies, Inc. (the "Company") appointed William Cooper to serve as the Company's Chief Financial Officer ("CFO"). Mr. Cooper, age 59, is a certified public accountant and joins the Company from Advanced Micro Devices, Inc. ("AMD") where he held various executive finance positions from March 2017 to December 2024. Most recently, from January 2024 to December 2024, Mr. Cooper served as Director of Financial Planning and Analysis leading the annual and quarterly planning and budgeting process globally for AMD as well as supporting external reporting and reporting to the board of directors. From March 2017 to January 2024, Mr. Cooper's previous AMD roles included Director of Finance, with global responsibility for inventory reporting and Sarbanes-Oxley Act compliance, and finance support for supply chain, global operations, and inventory management. Mr. Cooper was also global lead for integration of Xilinx, Inc.'s manufacturing costs and inventory after its acquisition by AMD. From January 2015 to June 2016, Mr. Cooper served as Chief Financial Officer for the Data Division of Volex plc, a maker of data cables used in Networking and Data Centers, as well as in high end medical equipment such as MRI machines. From December 2004 to January 2015, Mr. Cooper held various executive and managerial finance positions with AMD including leading Financial Planning and Analysis, Operations Finance directly supporting the spin-off of AMD's manufacturing facilities to Global Foundries, Controller of the Europe, Middle East and Africa regions for Sales finance based in Milan, Italy, and Mobile Client division Chief Financial Officer. Prior to AMD, Mr. Cooper spent a decade working in various finance management positions
Financial Statements and Exhibits
Financial Statements and Exhibits. Exhibit No. Description 10.1 Offer Letter, dated November 12, 2024, between Everspin Technologies, Inc. and William Cooper 99.1 Press release, dated January 8, 2025 104 Cover Page Interactive Data File (formatted as Inline XBRL)
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. Everspin Technologies, Inc. Dated: January 8, 2025 By: /s/ Sanjeev Aggarwal Sanjeev Aggarwal Chief Executive Officer