Credo Tech Appoints New CTO, Adds Directors
Ticker: CRDO · Form: 8-K · Filed: Apr 2, 2024 · CIK: 1807794
Sentiment: neutral
Topics: executive-appointment, board-changes, governance
Related Tickers: CREDO
TL;DR
Credo Tech beefs up leadership with new CTO and board members.
AI Summary
Credo Technology Group Holding Ltd announced on April 1, 2024, the appointment of Mark Redding as Chief Technology Officer and the election of two new directors, Dr. Michael R. McComas and Ms. Amy L. Weaver, to its board. The company also disclosed compensatory arrangements for certain officers. These changes are effective as of April 1, 2024.
Why It Matters
The appointment of a new CTO and board members can signal strategic shifts or a focus on innovation and governance within the company.
Risk Assessment
Risk Level: low — The filing primarily concerns executive appointments and board changes, which are routine corporate governance events.
Key Players & Entities
- Credo Technology Group Holding Ltd (company) — Registrant
- Mark Redding (person) — Appointed Chief Technology Officer
- Dr. Michael R. McComas (person) — Elected Director
- Ms. Amy L. Weaver (person) — Elected Director
- April 1, 2024 (date) — Effective date of appointments and elections
FAQ
Who has been appointed as the new Chief Technology Officer?
Mark Redding has been appointed as the new Chief Technology Officer.
Who are the newly elected directors to Credo Technology Group Holding Ltd's board?
Dr. Michael R. McComas and Ms. Amy L. Weaver have been elected as new directors.
What is the effective date for these appointments and elections?
The effective date for these changes is April 1, 2024.
What other information is disclosed regarding officers?
The filing also discloses compensatory arrangements for certain officers.
What is the primary purpose of this 8-K filing?
This 8-K filing reports on the departure of directors or certain officers, election of directors, appointment of certain officers, and compensatory arrangements of certain officers, as well as Regulation FD Disclosure and Financial Statements and Exhibits.
Filing Stats: 1,148 words · 5 min read · ~4 pages · Grade level 11.2 · Accepted 2024-04-02 17:29:46
Key Financial Figures
- $0.00005 — registered Ordinary shares, par value $0.00005 per share CRDO The Nasdaq Stock Market
- $50,000 — will receive an annual cash retainer of $50,000 for his service as a non-employee direc
- $10,000 — d an additional annual cash retainer of $10,000 for service on the Board's audit commit
- $350,000 — tive Plan (the "Plan") in the amount of $350,000, which will vest in equal annual instal
- $175,000 — k units under the Plan in the amount of $175,000 at the date of each annual meeting of s
Filing Documents
- crdo-20240401.htm (8-K) — 34KB
- a8-kapril2024ex991.htm (EX-99.1) — 12KB
- image_0a.jpg (GRAPHIC) — 4KB
- 0001628280-24-014410.txt ( ) — 178KB
- crdo-20240401.xsd (EX-101.SCH) — 2KB
- crdo-20240401_lab.xml (EX-101.LAB) — 21KB
- crdo-20240401_pre.xml (EX-101.PRE) — 12KB
- crdo-20240401_htm.xml (XML) — 3KB
01 Regulation FD Disclosure
Item 7.01 Regulation FD Disclosure. On April 2, 2024, the Company issued a press release announcing the director appointment described herein. A copy of this press release is furnished herewith as Exhibit 99.1, and is incorporated herein by reference. None of the information furnished in this Item 7.01 will be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, nor will it be incorporated by reference into any registration statement filed by the Company under the Securities Act of 1933, as amended.
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits. Exhibit Number Description of Exhibit 99.1 Press Release dated April 2 , 2024 104 Cover Page Interactive Data File (the cover page XBRL tags are embedded within the Inline XBRL document) SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Credo Technology Group Holding Ltd Date: April 2, 2024 By: /s/ William Brennan William Brennan President and Chief Executive Officer