Micron Technology Files 8-K with Officer, Director, and Bylaw Updates

Ticker: MU · Form: 8-K · Filed: 2024-03-11T00:00:00.000Z

Sentiment: neutral

Topics: corporate-governance, officer-changes, director-changes, bylaws

Related Tickers: MU

TL;DR

Micron filed an 8-K covering exec changes, director elections, and bylaw updates. Keep an eye on governance.

AI Summary

On March 11, 2024, Micron Technology, Inc. filed an 8-K report detailing several key events. The filing includes information regarding the departure of directors or certain officers, the election of directors, the appointment of certain officers, and updates to compensatory arrangements for certain officers. Additionally, the report addresses amendments to the company's articles of incorporation or bylaws and any change in its fiscal year. The filing also contains financial statements and exhibits.

Why It Matters

This 8-K filing signals potential shifts in corporate governance and executive compensation at Micron Technology, which could impact investor confidence and strategic direction.

Risk Assessment

Risk Level: medium — Changes in directors, officers, and bylaws can indicate internal restructuring or strategic shifts that may carry inherent risks.

Key Players & Entities

Micron Technology, Inc. (company) — Registrant
Delaware (jurisdiction) — State of incorporation
0000723125 (company_id) — Central Index Key
3674 (industry_code) — Standard Industrial Classification
751618004 (tax_id) — IRS Number
8000 South Federal Way, Boise, Idaho 83716-9632 (address) — Principal executive offices
March 11, 2024 (date) — Date of Report

FAQ

What specific changes were made to Micron's articles of incorporation or bylaws?

The filing indicates that amendments to the articles of incorporation or bylaws were made, but the specific details of these amendments are not provided in the summary information.

Were there any departures of directors or officers mentioned in the filing?

Yes, the filing explicitly states that it covers the departure of directors or certain officers.

What is the date of the earliest event reported in this 8-K filing?

The date of the earliest event reported is March 11, 2024.

Does this filing include information on executive compensation arrangements?

Yes, the filing mentions 'Compensatory Arrangements of Certain Officers' as an item of information.

What is Micron Technology's primary business sector according to the SIC code?

Micron Technology's primary business sector is 'SEMICONDUCTORS & RELATED DEVICES' with the SIC code 3674.

Filing Stats: 618 words · 2 min read · ~2 pages · Grade level 10.3 · Accepted 2024-03-11 16:29:16

Key Financial Figures

$0.10 — h registered Common Stock, par value $0.10 per share MU Nasdaq Global Select M

Filing Documents

tm248305d1_8k.htm (8-K) — 34KB
tm248305d1_ex3-1.htm (EX-3.1) — 132KB
tm248305d1_ex99-1.htm (EX-99.1) — 8KB
tm248305d1_8kimg001.jpg (GRAPHIC) — 3KB
tm248305d1_ex99-1img001.jpg (GRAPHIC) — 4KB
0001104659-24-033011.txt ( ) — 396KB
mu-20240311.xsd (EX-101.SCH) — 3KB
mu-20240311_lab.xml (EX-101.LAB) — 33KB
mu-20240311_pre.xml (EX-101.PRE) — 22KB
tm248305d1_8k_htm.xml (XML) — 4KB

02. Departure

Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. (d) Election of New Director – Robert Swan On March 11, 2024, the Board of Directors (the "Board") of Micron Technology, Inc. (the "Company") appointed Robert Swan as a member of the Board. Mr. Swan has also been appointed to the Audit Committee of the Board and the Finance Committee of the Board. Mr. Swan will participate in the Company's non-employee director compensation program consistent with past practice, including a grant on the date of his appointment equal to the pro rata portion of the annual grant of restricted stock provided to non-employee directors under the Company's director compensation plan. Mr. Swan will also enter into the Company's standard form of indemnification agreement. The full text of the press release issued on March 11, 2024, in connection with Mr. Swan's appointment to the Board is attached as Exhibit 99.1 to this report.

03 Amendments

Item 5.03 Amendments to Articles of Incorporation or Bylaws; Changes in Fiscal Year On March 11, 2024, the Board amended and restated the Company's bylaws (the "Amended and Restated Bylaws") to increase the size of the Board from eight to nine. This description of the amendment to the Company's bylaws is qualified in its entirety by reference to the text of the Amended and Restated Bylaws filed as Exhibit 3.1 to this report.

01. Financial

Item 9.01. Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 3.1 Amended and Restated Bylaws as of March 11, 2024 99.1 Press Release dated March 11, 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. MICRON TECHNOLOGY, INC. Date: March 11, 2024 By: /s/ Michael Ray Name: Michael Ray Title: Senior Vice President, Chief Legal Officer and Corporate Secretary