Onto Innovation Inc. Elects New Directors, Updates Executive Compensation
Ticker: ONTO · Form: 8-K · Filed: Mar 18, 2024 · CIK: 704532
| Field | Detail |
|---|---|
| Company | Onto Innovation Inc. (ONTO) |
| Form Type | 8-K |
| Filed Date | Mar 18, 2024 |
| Risk Level | medium |
| Pages | 3 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.001 |
| Sentiment | neutral |
Sentiment: neutral
Topics: board-changes, executive-compensation, governance
TL;DR
Onto Innovation adds 2 directors & updates exec pay. Board shakeup incoming?
AI Summary
On March 15, 2024, Onto Innovation Inc. announced changes to its board of directors and executive compensation. Specifically, the company elected two new directors, Dr. Steven R. Johnson and Ms. Sarah E. R. Glickman, to its Board, effective immediately. Additionally, the company entered into new employment agreements with its named executive officers, including a new employment agreement with its President and Chief Executive Officer, Mr. Ronald E. Spangler.
Why It Matters
Changes in board composition and executive compensation can signal shifts in company strategy, governance, and future performance expectations.
Risk Assessment
Risk Level: medium — Changes in board composition and executive compensation can sometimes precede significant strategic shifts or indicate internal dynamics that may affect future performance.
Key Players & Entities
- Onto Innovation Inc. (company) — Registrant
- Dr. Steven R. Johnson (person) — Newly Elected Director
- Ms. Sarah E. R. Glickman (person) — Newly Elected Director
- Mr. Ronald E. Spangler (person) — President and Chief Executive Officer
- March 15, 2024 (date) — Date of Report
FAQ
Who are the newly elected directors to Onto Innovation Inc.'s Board?
Dr. Steven R. Johnson and Ms. Sarah E. R. Glickman were elected as new directors to the Board of Onto Innovation Inc.
When were the new directors elected?
The new directors were elected effective March 15, 2024.
What other significant event was reported on March 15, 2024, by Onto Innovation Inc.?
Onto Innovation Inc. also reported entering into new employment agreements with its named executive officers, including its President and Chief Executive Officer, Mr. Ronald E. Spangler.
What is the principal executive office address for Onto Innovation Inc.?
The principal executive office address is 16 Jonspin Road, Wilmington, Massachusetts 01887.
What is the Commission File Number for Onto Innovation Inc.?
The Commission File Number for Onto Innovation Inc. is 001-39110.
Filing Stats: 822 words · 3 min read · ~3 pages · Grade level 10.1 · Accepted 2024-03-18 08:02:51
Key Financial Figures
- $0.001 — nge on which registered Common Stock, $0.001 par value per share ONTO New York S
Filing Documents
- onto-20240315.htm (8-K) — 43KB
- onto-ex99_1.htm (EX-99.1) — 14KB
- img123863179_0.jpg (GRAPHIC) — 7KB
- 0000950170-24-032526.txt ( ) — 176KB
- onto-20240315.xsd (EX-101.SCH) — 23KB
- onto-20240315_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 hereunto duly authorized. Onto Innovation Inc. Date: March 18, 2024 By: /s/ Yoon Ah E. Oh Vice President, General Counsel & Corporate Secretary