Semtech Names Mark Floyd CFO, Sets Compensation
Ticker: SMTC · Form: 8-K · Filed: Feb 24, 2025 · CIK: 88941
Sentiment: neutral
Topics: executive-compensation, cfo-appointment, employment-agreement
Related Tickers: SMTC
TL;DR
Semtech names Mark Floyd new CFO, compensation details released.
AI Summary
On February 20, 2025, Semtech Corp. announced changes in its executive compensation. Specifically, the company entered into an employment agreement with Mark Floyd, appointing him as Chief Financial Officer, effective February 20, 2025. The agreement outlines his annual base salary, potential bonus, and equity awards.
Why It Matters
The appointment of a new CFO and the details of their compensation package are crucial for investors to assess leadership stability and the company's financial strategy.
Risk Assessment
Risk Level: medium — Changes in key executive positions, especially the CFO, can indicate underlying issues or strategic shifts that may impact the company's future performance.
Key Players & Entities
- Semtech Corp. (company) — Registrant
- Mark Floyd (person) — Appointed Chief Financial Officer
- February 20, 2025 (date) — Effective date of appointment and employment agreement
FAQ
What is Mark Floyd's annual base salary as CFO?
The filing states Mark Floyd's annual base salary is $450,000.
What is the target annual bonus for Mark Floyd?
Mark Floyd's target annual bonus is 75% of his base salary.
What is the value of the initial equity award granted to Mark Floyd?
Mark Floyd was granted an initial equity award with a target value of $1,500,000.
When is Mark Floyd's employment agreement effective?
Mark Floyd's employment agreement is effective as of February 20, 2025.
What is Semtech Corp.'s principal executive office address?
Semtech Corp.'s principal executive offices are located at 200 Flynn Road, Camarillo, California 93012-8790.
Filing Details
This Form 8-K (Form 8-K) was filed with the SEC on February 24, 2025 by Mark Floyd regarding SEMTECH CORP (SMTC).