Photronics Appoints New CFO, David Miller

TL;DR

New CFO David Miller steps in at Photronics, replacing John Curtin.

AI Summary

On November 18, 2024, Photronics, Inc. announced the appointment of David L. Miller as its new Chief Financial Officer, effective November 21, 2024. Miller will succeed John J. Curtin, who will transition to a senior advisor role until his retirement on January 31, 2025. Miller's compensation package includes a base salary of $450,000 and a target annual bonus of 100% of his base salary.

Why It Matters

The appointment of a new CFO can signal a shift in financial strategy or leadership, impacting investor confidence and the company's financial reporting.

Risk Assessment

Risk Level: low — This is a routine executive appointment and compensation disclosure, with no immediate financial distress or significant strategic change indicated.

Key Numbers

• $450,000 — New CFO Base Salary (David Miller's starting annual salary.)
• 100% — New CFO Target Bonus (David Miller's potential annual bonus as a percentage of base salary.)

Key Players & Entities

• Photronics, Inc. (company) — Registrant
• David L. Miller (person) — Appointed Chief Financial Officer
• John J. Curtin (person) — Outgoing Chief Financial Officer
• $450,000 (dollar_amount) — David Miller's base salary
• 100% (dollar_amount) — David Miller's target annual bonus percentage
• November 18, 2024 (date) — Effective date of announcement
• November 21, 2024 (date) — Effective date of David Miller's appointment
• January 31, 2025 (date) — John Curtin's retirement date

FAQ

Key Financial Figures

• $0.01 — ange on which registered COMMON STOCK, $0.01 par value per share PLAB NASDAQ Glo

Filing Documents

• ef20038898_8k.htm (8-K) — 28KB
• ef20038898_ex99-1.htm (EX-99.1) — 6KB
• image00001.jpg (GRAPHIC) — 4KB
• image00002.jpg (GRAPHIC) — 4KB
• 0001140361-24-047448.txt ( ) — 183KB
• plab-20241118.xsd (EX-101.SCH) — 4KB
• plab-20241118_lab.xml (EX-101.LAB) — 21KB
• plab-20241118_pre.xml (EX-101.PRE) — 16KB
• ef20038898_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. On November 18, 2024, Photronics, Inc. (the "Company") appointed Christopher Lutzo as Vice President, General Counsel, and Corporate Secretary, effective immediately. In this role, Mr. Lutzo will oversee the Company's legal affairs and compliance functions and will report directly to Frank Lee, the Company's Chief Executive Officer. Mr. Lutzo brings over 15 years of experience in commercial, transactional, corporate, securities, and compliance practice areas across diverse and highly regulated industries. He was most recently employed as Assistant General Counsel at Crane Company, a manufacturer of highly engineered instruments, controls, and systems in the process flow and aerospace industries headquartered in Stamford, Connecticut. Mr. Lutzo holds a Juris Doctor from Quinnipiac University in Hamden, Connecticut. A press release announcing Mr. Lutzo's appointment is attached as Exhibit 99.1 and incorporated herein by reference.

Financial Statements and Exhibits

Financial Statements and Exhibits. (d) Exhibits 99.1 Press Release dated November 21, 2024 SIGNATURE 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. PHOTRONICS, INC. (Registrant) By: /s/ Frank Lee Name: Frank Lee Title: Chief Executive Officer Date: November 21, 2024

View Full Filing

View this 8-K filing on SEC EDGAR