Axcelis Technologies Inc. Announces 2024 Annual Meeting of Stockholders on May 9

TL;DR

<b>Axcelis Technologies will hold its annual stockholder meeting on May 9, 2024, to elect directors, ratify auditors, and vote on executive compensation and corporate amendments.</b>

AI Summary

AXCELIS TECHNOLOGIES INC (ACLS) filed a Proxy Statement (DEF 14A) with the SEC on March 29, 2024. Axcelis Technologies, Inc. will hold its 2024 annual meeting of stockholders on May 9, 2024, at 11:00 a.m. in Beverly, Massachusetts. The meeting agenda includes electing nine director nominees, ratifying the appointment of the independent auditor for the year ending December 31, 2024, and approving an amendment to the certificate of incorporation to limit officer liability. Stockholders will also vote on an advisory basis for the 2023 compensation of named executive officers. Only stockholders of record as of March 15, 2024, are entitled to vote. The filing is a Definitive Proxy Statement (DEF 14A) filed on March 29, 2024.

Why It Matters

For investors and stakeholders tracking AXCELIS TECHNOLOGIES INC, this filing contains several important signals. This proxy statement outlines key corporate governance matters, including director elections and executive compensation, providing stockholders with information to make informed voting decisions. The proposed amendment to the certificate of incorporation to limit officer liability is a significant governance change that could impact the company's legal standing and executive protection.

Risk Assessment

Risk Level: low — AXCELIS TECHNOLOGIES INC shows low risk based on this filing. The filing is a routine proxy statement for an annual meeting and does not contain new financial performance data or significant strategic shifts, indicating a low level of immediate risk.

Analyst Insight

Stockholders should review the director nominees, auditor ratification, executive compensation details, and the proposed charter amendment before the May 9, 2024, meeting.

Key Numbers

• 9 — Director Nominees (To be elected at the annual meeting)
• 2024 — Fiscal Year End for Auditor Ratification (Independent registered public accounting firm to audit financial statements for the year ending December 31, 2024.)
• 2023 — Compensation Year (Advisory vote on the 2023 compensation of named executive officers.)

Key Players & Entities

• AXCELIS TECHNOLOGIES INC (company) — Registrant
• May 9, 2024 (date) — Annual Meeting Date
• March 15, 2024 (date) — Record Date for Voting
• March 29, 2024 (date) — Filing Date
• Lynnette C. Fallon (person) — Secretary
• DEF 14A (filing_type) — Form Type

FAQ

Risk Factors

• Limiting Officer Liability [medium — regulatory]: An amendment to the restated certificate of incorporation is proposed to reflect new Delaware law provisions limiting officer liability.

Industry Context

Axcelis Technologies operates in the semiconductor equipment manufacturing industry, providing ion implantation and related technologies crucial for semiconductor device fabrication.

Regulatory Implications

The filing is made under Section 14(a) of the Securities Exchange Act of 1934, governing the solicitation of proxies, and relates to Delaware corporate law regarding officer liability.

What Investors Should Do

1. Review the biographies and qualifications of the nine director nominees.
2. Evaluate the rationale and proposed compensation for named executive officers for 2023.
3. Understand the implications of the proposed amendment to limit officer liability under Delaware law.

Key Dates

• 2024-05-09: Annual Meeting of Stockholders — Election of directors, ratification of auditors, approval of charter amendment, and advisory vote on executive compensation.
• 2024-03-15: Record Date — Stockholders of record on this date are entitled to vote at the annual meeting.
• 2024-03-29: Filing Date — Date the Definitive Proxy Statement was filed with the SEC.

Year-Over-Year Comparison

This filing is a routine DEF 14A for the annual meeting, similar to previous years, outlining standard corporate governance and voting matters.

Key Financial Figures

• $1.13 billion — : Axcelis delivered record revenue of $1.13 billion in 2023, and record earnings per share
• $7.43 — 2023, and record earnings per share of $7.43 for the full year. This 23% revenue g
• $1.3B — osition the company well to achieve our $1.3B revenue target in 2025. Support for S

Filing Documents

• tm242686-d4_def14a.htm (DEF 14A) — 1129KB
• lg_axcelis-4c.jpg (GRAPHIC) — 12KB
• pc_boardnom-4c.jpg (GRAPHIC) — 43KB
• pc_tenure-4c.jpg (GRAPHIC) — 36KB
• ic_tickmark-bw.jpg (GRAPHIC) — 1KB
• tb_auditcompetc-4c.jpg (GRAPHIC) — 72KB
• bc_ceoother-4c.jpg (GRAPHIC) — 58KB
• bc_ceorealized-4c.jpg (GRAPHIC) — 42KB
• px_axcelis24page01-4c.jpg (GRAPHIC) — 398KB
• px_axcelis24page02-4c.jpg (GRAPHIC) — 249KB
• 0001104659-24-040855.txt (&nbsp;) — 4361KB
• acls-20231231.xsd (EX-101.SCH) — 6KB
• acls-20231231_def.xml (EX-101.DEF) — 6KB
• acls-20231231_lab.xml (EX-101.LAB) — 19KB
• acls-20231231_pre.xml (EX-101.PRE) — 8KB
• tm242686-d4_def14a_htm.xml (XML) — 291KB

EXECUTIVE COMPENSATION

EXECUTIVE COMPENSATION 48 i TABLE OF CONTENTS PRELIMINARY COPIES FILED PURSUANT TO RULE 14a-6(a) GENERAL INFORMATION ABOUT VOTING The Board of Directors of Axcelis Technologies, Inc. ("Axcelis" or the "Company") is soliciting your proxy for use at the 2024 annual meeting of stockholders to be held on Thursday, May 9, 2024 and at any adjournment of the meeting. This proxy statement and the accompanying proxy card are first being sent or given to stockholders of Axcelis on or about March 29, 2024. The meeting will be held at the offices of the Company at 108 Cherry Hill Drive, Beverly, Massachusetts. Stockholders should bring identification and, after checking in with the Security Desk in the building lobby, they will be directed to the meeting. Important Notice Regarding the Availability of Proxy Materials for the Stockholder Meeting to Be Held on May 9, 2024: This proxy statement and our Annual Report to Stockholders are available on our website at: www.axcelis.com/proxy.html. Who can vote. You may vote your shares of Axcelis common stock at the annual meeting if you were a stockholder of record at the close of business on March 15, 2024. On that date, there were 32,602,657 shares of common stock outstanding. You are entitled to one vote for each share of common stock that you held on the record date. How to vote your shares. You may vote either by proxy or by attending the meeting and voting in person. To vote by proxy, either (A) complete, sign, date and mail the proxy card or voting instruction form or (B) follow the instructions on the card or form for voting online or by telephone. The proxies named in the proxy card will vote your shares as you have instructed. If you sign and return the proxy card without indicating how your votes should be cast, the proxies will vote your shares in favor of each proposal, as recommended by our Board of Directors. Even if you plan to attend the meeting, please vote by mail, telephone or online as instructed

View Full Filing

View this DEF 14A filing on SEC EDGAR