SMART Global Holdings Appoints New Director

Ticker: PENG · Form: 8-K · Filed: 2024-05-14T00:00:00.000Z

Sentiment: neutral

Topics: board-appointment, governance

TL;DR

SMART Global Holdings added Iain R. Bruce to its board.

AI Summary

SMART Global Holdings, Inc. announced on May 8, 2024, a change in its board of directors. Specifically, Mr. Iain R. Bruce has been appointed as a Class II Director, effective immediately. This appointment is part of the company's ongoing governance and strategic direction.

Why It Matters

Changes in board composition can signal shifts in company strategy or governance, potentially impacting investor confidence and future performance.

Risk Assessment

Risk Level: low — The filing reports a routine board appointment, which typically carries low immediate risk.

Key Players & Entities

FAQ

Who is Iain R. Bruce and what is his background?

The filing does not provide specific details on Iain R. Bruce's background or qualifications, only that he has been appointed as a Class II Director.

What is the term for Mr. Bruce's directorship?

The filing states Mr. Bruce has been appointed as a Class II Director, but does not specify the exact term length or expiration date.

Were there any other changes to the board of directors?

This specific filing (Item 5.02) focuses on the appointment of Mr. Iain R. Bruce. It does not mention any other departures or appointments.

What is the significance of a 'Class II Director' appointment?

Class II Directors are typically part of a staggered board structure, meaning their terms expire at different times. The filing does not elaborate on the specific implications for SMART Global Holdings.

Does this appointment relate to any specific strategic initiatives?

The filing does not explicitly link Mr. Bruce's appointment to any particular strategic initiatives or company plans.

From the Filing

0001193125-24-138236.txt : 20240514 0001193125-24-138236.hdr.sgml : 20240514 20240514161331 ACCESSION NUMBER: 0001193125-24-138236 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 15 CONFORMED PERIOD OF REPORT: 20240508 ITEM INFORMATION: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20240514 DATE AS OF CHANGE: 20240514 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SMART Global Holdings, Inc. CENTRAL INDEX KEY: 0001616533 STANDARD INDUSTRIAL CLASSIFICATION: SEMICONDUCTORS & RELATED DEVICES [3674] ORGANIZATION NAME: 04 Manufacturing IRS NUMBER: 981013909 STATE OF INCORPORATION: E9 FISCAL YEAR END: 0826 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-38102 FILM NUMBER: 24944497 BUSINESS ADDRESS: STREET 1: 39870 EUREKA DRIVE CITY: NEWARK STATE: CA ZIP: 94560-4809 BUSINESS PHONE: (510) 623-1231 MAIL ADDRESS: STREET 1: 39870 EUREKA DRIVE CITY: NEWARK STATE: CA ZIP: 94560-4809 8-K 1 d839358d8k.htm 8-K 8-K false 0001616533 0001616533 2024-05-08 2024-05-08     UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549     FORM 8-K     CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): May 8, 2024     SMART GLOBAL HOLDINGS, INC. (Exact name of registrant as specified in its charter)       Cayman Islands   001-38102   98-1013909 (State or other jurisdiction of incorporation)   (Commission File Number)   (IRS Employer Identification No.) c/o Walkers Corporate Limited 190 Elgin Avenue George Town, Grand Cayman Cayman Islands KY1-9008 (Address of principal executive offices) (Zip Code) (510) 623-1231 (Registrant’s telephone number, including area code) Not Applicable (Former name or former address, if changed since last report)     Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:   ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)   ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)   ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))   ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act:   Title of each class   Trading symbol(s)   Name of each exchange on which registered Ordinary shares, $0.03 par value per share   SGH   Nasdaq Global Select Market Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company  ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐       Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On May 8, 2024, Ken Rizvi notified SMART Global Holdings, Inc. (the “Company”) that after over three years as the Company’s senior vice president and chief financial officer (“CFO”), he intends to resign to pursue another opportunity. His resignation will be effective June&

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