Novanta Appoints New CFO, Robert Donahue
Ticker: NOVTU · Form: 8-K · Filed: Jul 12, 2024 · CIK: 1076930
| Field | Detail |
|---|---|
| Company | Novanta Inc (NOVTU) |
| Form Type | 8-K |
| Filed Date | Jul 12, 2024 |
| Risk Level | low |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $67,500, $200,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: executive-change, cfo, compensation
Related Tickers: NOVN
TL;DR
Novanta names new CFO, Donahue starts Aug 5, Blair retires Feb 25.
AI Summary
On July 11, 2024, Novanta Inc. announced the appointment of Robert J. Donahue as its new Chief Financial Officer, effective August 5, 2024. He will succeed Robert J. Blair, who will transition to a Senior Advisor role until his retirement on February 28, 2025. Donahue's annual base salary will be $425,000, with a target annual bonus of 60% of his base salary.
Why It Matters
This executive change signals a transition in financial leadership, which could impact the company's financial strategy and investor relations.
Risk Assessment
Risk Level: low — The filing details a planned executive transition with a clear timeline and compensation structure, indicating a controlled process.
Key Numbers
- $425,000 — New CFO Base Salary (Annual compensation for Robert J. Donahue.)
- 60% — New CFO Bonus Target (Performance-based bonus potential for Robert J. Donahue.)
Key Players & Entities
- Novanta Inc. (company) — Registrant
- Robert J. Donahue (person) — Incoming Chief Financial Officer
- Robert J. Blair (person) — Outgoing Chief Financial Officer
- August 5, 2024 (date) — Effective date for new CFO
- February 28, 2025 (date) — Retirement date for outgoing CFO
- $425,000 (dollar_amount) — Annual base salary for new CFO
- 60% (percentage) — Target annual bonus for new CFO
FAQ
What is the effective date for Robert J. Donahue's appointment as CFO?
Robert J. Donahue's appointment as Chief Financial Officer is effective August 5, 2024.
What will be Robert J. Blair's role after stepping down as CFO?
Robert J. Blair will transition to a Senior Advisor role until his retirement on February 28, 2025.
What is Robert J. Donahue's annual base salary?
Robert J. Donahue's annual base salary will be $425,000.
What is the target annual bonus for the new CFO?
The target annual bonus for Robert J. Donahue is 60% of his base salary.
When is Robert J. Blair scheduled to retire?
Robert J. Blair is scheduled to retire on February 28, 2025.
Filing Stats: 544 words · 2 min read · ~2 pages · Grade level 11.6 · Accepted 2024-07-12 16:05:10
Key Financial Figures
- $67,500 — y, including an annual cash retainer of $67,500 and an annual equity award with a fair
- $200,000 — th a fair value on the date of grant of $200,000, which will be granted in the form of r
Filing Documents
- novt-20240711.htm (8-K) — 40KB
- 0000950170-24-083196.txt ( ) — 154KB
- novt-20240711.xsd (EX-101.SCH) — 29KB
- novt-20240711_htm.xml (XML) — 4KB
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 thereunto duly authorized. Novanta Inc. Date: July 12, 2024 By: /s/ Robert J. Buckley Robert J. Buckley Chief Financial Officer