Photo-Electronics Inc. Board Changes Announced

TL;DR

Photo-Electronics board shakes up: O'Malley out, D'Amico & Whalen in.

AI Summary

On December 12, 2024, PHOTRONICS, INC. reported the departure of Director Robert J. O'Malley. The company also announced the election of two new directors, David J. D'Amico and Michael J. Whalen, to its Board of Directors, effective December 12, 2024. These changes were filed with the SEC on December 18, 2024.

Why It Matters

Changes in a company's board of directors can signal shifts in strategy or governance, potentially impacting investor confidence and future performance.

Risk Assessment

Risk Level: low — The filing concerns routine board changes and does not involve financial performance or significant operational shifts.

Key Players & Entities

• Robert J. O'Malley (person) — Departing Director
• David J. D'Amico (person) — Newly Elected Director
• Michael J. Whalen (person) — Newly Elected Director
• PHOTRONICS, INC. (company) — Registrant

FAQ

Key Financial Figures

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

Filing Documents

• ef20040377_8k.htm (8-K) — 30KB
• ef20040377_ex99-1.htm (EX-99.1) — 6KB
• image00001.jpg (GRAPHIC) — 3KB
• image00002.jpg (GRAPHIC) — 4KB
• 0001140361-24-049844.txt ( ) — 187KB
• plab-20241212.xsd (EX-101.SCH) — 4KB
• plab-20241212_lab.xml (EX-101.LAB) — 21KB
• plab-20241212_pre.xml (EX-101.PRE) — 16KB
• ef20040377_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 December 12, 2024, Photronics, Inc. (the "Company") enlarged its Board of Directors from eight members to nine and elected David Garcia to the Board of Directors. With over thirty years of experience in corporate law, finance and mergers & acquisitions, Mr. Garcia brings expertise in counseling both publicly and privately held companies on corporate governance and strategic transactions. Mr. Garcia has played a key role in structuring corporate partnerships, technology development agreements and distributing and licensing agreements. After beginning his legal career in Silicon Valley, he practiced with Hale Lane in Reno, Nevada until its combination with Holland & Hart in July 2008, and with Holland & Hart for the remainder of his time in private practice before stepping away in March 2023 to become a strategic advisor. Mr. Garcia holds an A.B. in Sociology with a concentration in organizational behavior from Stanford University and a Juris Doctor from Harvard Law School. The Company published a press release announcing Mr. Garcia's appointment to the Board of Directors on December 18, 2024, a copy of which is attached as Exhibit 99.1 to this disclosure. Mr. Garcia will receive compensation similar to other Company Board members including cash retainers for Board and Committee memberships and restricted stock. Mr. Garcia has not yet been named to any Board committees.

Financial Statements and Exhibits

Financial Statements and Exhibits. (d) Exhibits 99.1 Press Release dated December 18, 2024.

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. PHOTRONICS, INC. (Registrant) By: /s/ Christopher J. Lutzo Name: Christopher J. Lutzo Title: Vice President, General Counsel and Secretary Date: December 18, 2024

View Full Filing

View this 8-K filing on SEC EDGAR