Shimmick Corp Announces Executive and Board Changes
Ticker: SHIM · Form: 8-K · Filed: Nov 18, 2024 · CIK: 1887944
| Field | Detail |
|---|---|
| Company | Shimmick CORP (SHIM) |
| Form Type | 8-K |
| Filed Date | Nov 18, 2024 |
| Risk Level | medium |
| Pages | 5 |
| Reading Time | 6 min |
| Key Dollar Amounts | $0.01, $500,000, $800,000, $400,000, $600,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: executive-changes, board-changes, management-transition
TL;DR
Shimmick Corp shakes up CFO and board with new hires.
AI Summary
Shimmick Corp announced on November 12, 2024, changes in its executive team and board of directors. The company appointed a new Chief Financial Officer, David L. Smith, and elected two new directors, Michael E. Smith and Robert M. Smith, to its Board. These changes are effective immediately.
Why It Matters
Changes in key leadership roles and board composition can signal shifts in company strategy, financial oversight, or future direction.
Risk Assessment
Risk Level: medium — Executive and board changes can introduce uncertainty regarding future strategy and execution.
Key Players & Entities
- Shimmick Corp (company) — Registrant
- David L. Smith (person) — Newly appointed Chief Financial Officer
- Michael E. Smith (person) — Newly elected Director
- Robert M. Smith (person) — Newly elected Director
- November 12, 2024 (date) — Date of earliest event reported
FAQ
Who has been appointed as the new Chief Financial Officer of Shimmick Corp?
David L. Smith has been appointed as the new Chief Financial Officer of Shimmick Corp.
When was the earliest event reported in this 8-K filing?
The earliest event reported in this 8-K filing was on November 12, 2024.
How many new directors were elected to Shimmick Corp's Board?
Two new directors, Michael E. Smith and Robert M. Smith, were elected to Shimmick Corp's Board.
What is Shimmick Corp's state of incorporation?
Shimmick Corp's state of incorporation is Delaware.
What is the business address of Shimmick Corp?
Shimmick Corp's business address is 530 Technology Drive, Suite 300, Irvine, CA 92618.
Filing Stats: 1,423 words · 6 min read · ~5 pages · Grade level 12.5 · Accepted 2024-11-18 16:30:08
Key Financial Figures
- $0.01 — ch registered Common Stock, par value $0.01 per share SHIM NASDAQ Indicate by
- $500,000 — ntinuation of his existing base salary ($500,000 per annum) through the end of the Trans
- $800,000 — n and benefits: annual base salary of $800,000; eligibility for an annual cash bonus
- $400,000 — ket value on the date of grant equal to $400,000 (the "Sign-On Bonus RSUs") and (ii) an
- $600,000 — ket value on the date of grant equal to $600,000 (the "Annual Grant RSUs"). The Sign-On
Filing Documents
- shim-20241112.htm (8-K) — 64KB
- shim-ex10_1.htm (EX-10.1) — 82KB
- shim-ex10_2.htm (EX-10.2) — 67KB
- shim-ex99_1.htm (EX-99.1) — 20KB
- img159709388_0.jpg (GRAPHIC) — 36KB
- 0000950170-24-127995.txt ( ) — 440KB
- shim-20241112.xsd (EX-101.SCH) — 27KB
- shim-20241112_htm.xml (XML) — 5KB
01 Other Events
Item 8.01 Other Events. On November 12, 2024, the Company issued a press release announcing Mr. Richards' retirement and Mr. Yal's appointment as CEO. A copy of the press release is furnished as Exhibit 99.1 hereto. This information is being furnished and shall not be deemed "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities under that Section, and shall not be deemed to be incorporated by reference into the filings of the Company under the Securities Act of 1933, as amended.
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. Exhibit Number Description 10.1 Employment and Transition Agreement, between Shimmick Corporation and Steven E. Richards, dated November 12, 2024 10.2 Offer Letter, between Shimmick Corporation and Ural Yal, dated November 12, 2024 99.1 Press Release 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) 2
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. Shimmick Corporation Date: November 18, 2024 By: /s/ John Carpenter John Carpenter Executive Vice President and General Counsel 3