Richardson Electronics DEF 14A: Executive Stock Awards Detailed
Ticker: RELL · Form: DEF 14A · Filed: Aug 23, 2024 · CIK: 355948
Sentiment: neutral
Topics: proxy-statement, executive-compensation, stock-awards
TL;DR
Richardson Electronics DEF 14A out: Executive stock awards and options details for FY24.
AI Summary
Richardson Electronics, Ltd. filed a DEF 14A on August 23, 2024, for the fiscal year ending October 8, 2024. The filing details executive compensation, including stock awards and options, with specific values for unvested awards granted in prior fiscal years that vest during the current fiscal year. For example, the fair value of unvested stock awards granted in fiscal year 2023 (ending May 28, 2023) that vested in fiscal year 2024 (ending June 1, 2024) is detailed.
Why It Matters
This filing provides transparency into how executive compensation is structured, particularly concerning stock-based incentives, which can influence executive decision-making and shareholder value.
Risk Assessment
Risk Level: low — This is a routine DEF 14A filing detailing executive compensation and is not indicative of immediate financial risk.
Key Numbers
- FY2024 — Fiscal Year End (Period of Report for this filing)
- FY2023 — Previous Fiscal Year End (Used for reporting prior stock awards)
Key Players & Entities
- RICHARDSON ELECTRONICS, LTD. (company) — Filer
- 0000355948 (company) — Central Index Key
- 20240823 (date) — Filing Date
- 20241008 (date) — Period of Report
FAQ
What is the primary purpose of a DEF 14A filing?
A DEF 14A filing, also known as a Definitive Proxy Statement, is filed by a company to solicit proxies from shareholders for an upcoming annual or special meeting. It provides detailed information about matters to be voted on, including executive compensation, director nominations, and other corporate governance issues.
What specific compensation details are highlighted in this Richardson Electronics filing?
This filing highlights the fair value of unvested stock options and stock awards granted in prior fiscal years that vest during the current fiscal year, as well as those granted in the current fiscal year.
What is the fiscal year end for Richardson Electronics?
The fiscal year end for Richardson Electronics, Ltd. is June 1st, with the period of report for this filing being October 8, 2024.
What is the Central Index Key (CIK) for Richardson Electronics?
The Central Index Key (CIK) for Richardson Electronics, Ltd. is 0000355948.
When was this DEF 14A filing submitted to the SEC?
This DEF 14A filing was submitted to the SEC on August 23, 2024.
Filing Stats: 4,751 words · 19 min read · ~16 pages · Grade level 12.6 · Accepted 2024-08-23 09:30:17
Filing Documents
- rell-20240821.htm (DEF 14A) — 1694KB
- img207186145_0.jpg (GRAPHIC) — 27KB
- img207186145_1.jpg (GRAPHIC) — 59KB
- img207186145_2.jpg (GRAPHIC) — 2KB
- img207186145_3.jpg (GRAPHIC) — 129KB
- img207186145_4.jpg (GRAPHIC) — 128KB
- img207186145_5.jpg (GRAPHIC) — 127KB
- img207186145_6.jpg (GRAPHIC) — 105KB
- img207186145_7.jpg (GRAPHIC) — 450KB
- img207186145_8.jpg (GRAPHIC) — 437KB
- 0000950170-24-100030.txt ( ) — 5855KB
- rell-20240821.xsd (EX-101.SCH) — 26KB
- rell-20240821_htm.xml (XML) — 360KB
SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT
SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT 16 PROPOSAL 2 – RATIFICATION OF THE SELECTION OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM 18 AUDIT MATTERS 19 Audit Committee Report 19 Independent Auditor's Fees 20 RELATED PARTY TRANSACTIONS 21 COMPENSATION DISCUSSION AND ANALYSIS 22 REPORT OF THE COMPENSATION COMMITTEE 29 COMPENSATION COMMITTEE INTERLOCKS AND INSIDER PARTICIPATION 30 PAY VERSUS PERFORMANCE 31 COMPENSATION OF NAMED EXECUTIVE OFFICERS 36 Summary Compensation Table 36 Grants of Plan Based Awards for Fiscal 2024 37 Outstanding Equity Awards at Fiscal Year End 38 Option Exercises and Stock Vested 39 Employment Agreements 40 Potential Payment upon Termination or Change in Control 41 CEO Pay Ratio 41 PROPOSAL 3 – ADVISORY VOTE REGARDING COMPENSATION OF NAMED EXECUTIVE OFFICERS 42 STOCKHOLDER PROPOSALS FOR 2025 ANNUAL MEETING 43 OTHER MATTERS 44 3 RICHARDSON ELECTRONICS, LTD. PROXY STATEMENT ANNUAL MEETING INFORMATION Gene ral The Board of Directors of Richardson Electronics, Ltd. (the "Company," "we," "our" or "us") is soliciting your proxy for the 2024 Annual Meeting of Stockholders (the "Annual Meeting") to be held at our corporate headquarters (and principal executive offices) located at 40W267 Keslinger Road, LaFox, Illinois 60147-0393, on Tuesday, October 8, 2024, at 2:00 p.m. Central Time, and at any and all adjourned or postponed sessions of the Annual Meeting. On or about August 23, 2024, we will mail to our stockholders of record as of the record date a notice of Internet availability of proxy materials, including this proxy statement and our Annual Report on Form 10-K for the fiscal year ended June 1, 2024. All stockholders receiving the notice will have the ability to access the proxy materials over the Internet and to request a paper copy by mail by following the instructions in the notice. Record Date and Quorum Holders of our