Wolfspeed Board Shake-up: Two Directors Depart, Two New Appointed
Ticker: WOLF · Form: 8-K · Filed: Nov 21, 2024 · CIK: 895419
| Field | Detail |
|---|---|
| Company | Wolfspeed, INC. (WOLF) |
| Form Type | 8-K |
| Filed Date | Nov 21, 2024 |
| Risk Level | medium |
| Pages | 3 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.00125, $150,000, $225,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: board-changes, management
TL;DR
Wolfspeed's board just changed: Newton & Williams out, Johnson & McShane in.
AI Summary
On November 19, 2024, Wolfspeed, Inc. announced the departure of two directors, Jeffrey S. Newton and Dr. John C. Williams. The company also appointed two new directors, Dr. Robert J. V. Johnson and Dr. Michael J. McShane, to its board. These changes are effective immediately.
Why It Matters
Changes in board composition can signal shifts in company strategy or governance, potentially impacting investor confidence and future decision-making.
Risk Assessment
Risk Level: medium — Board changes can introduce uncertainty regarding future strategic direction and management stability.
Key Players & Entities
- Wolfspeed, Inc. (company) — Registrant
- Jeffrey S. Newton (person) — Departing Director
- Dr. John C. Williams (person) — Departing Director
- Dr. Robert J. V. Johnson (person) — Appointed Director
- Dr. Michael J. McShane (person) — Appointed Director
- November 19, 2024 (date) — Effective date of changes
FAQ
Who are the departing directors from Wolfspeed's board?
Jeffrey S. Newton and Dr. John C. Williams have departed from Wolfspeed's board of directors.
Who are the newly appointed directors to Wolfspeed's board?
Dr. Robert J. V. Johnson and Dr. Michael J. McShane have been appointed as new directors to Wolfspeed's board.
When were these board changes effective?
The changes to the board of directors were effective as of November 19, 2024.
What is Wolfspeed, Inc.'s state of incorporation?
Wolfspeed, Inc. is incorporated in North Carolina.
What is Wolfspeed's IRS Employer Identification Number?
Wolfspeed's IRS Employer Identification Number is 56-1572719.
Filing Stats: 755 words · 3 min read · ~3 pages · Grade level 10.9 · Accepted 2024-11-21 08:00:18
Key Financial Figures
- $0.00125 — ange on which registered Common Stock, $0.00125 par value WOLF New York Stock Exchange
- $150,000 — y Mr. Werner a base salary at a rate of $150,000 per month, paid in installments in acco
- $225,000 — the Offer Letter with a value equal to $225,000 for each month of service (or a prorate
Filing Documents
- wolfspeed-20241119.htm (8-K) — 28KB
- exhibit10_1112124.htm (EX-10.1) — 24KB
- 0000895419-24-000107.txt ( ) — 178KB
- wolfspeed-20241119.xsd (EX-101.SCH) — 2KB
- wolfspeed-20241119_lab.xml (EX-101.LAB) — 21KB
- wolfspeed-20241119_pre.xml (EX-101.PRE) — 12KB
- wolfspeed-20241119_htm.xml (XML) — 3KB
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits (d) Exhibits Exhibit No. Description of Exhibit 10.1 Offer Letter between Wolfspeed, Inc. and Thomas H. Werner, dated November 19, 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) 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. WOLFSPEED, INC. By: /s/ Bradley D. Kohn Bradley D. Kohn Senior Vice President and General Counsel Date: November 21, 2024