ICHOR HOLDINGS, LTD. (NASDAQ:ICHR) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02 Departure of Directors or Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Appointment of Chief Operating Officer
On August9, 2017, Ichor Holdings, Ltd. (the “Company”) announced the hiring of Kevin M. Canty as Chief Operating Officer. Mr.Canty is expected to commence employment with the Company on August14, 2017.
Mr.Canty, 61, most recently served as the Vice President of Worldwide Operations for Aruba Networks from October 2010 to April 2017. Previously, Mr.Canty served as Senior Vice President of Worldwide Operations for Juniper Networks from May 2005 to October 2010, Vice President of Operations for Peribit Networks from January 2005 to May 2005, Chief Operating Officer of Aurora Networks from March 2003 to January 2005 and Vice President of Operations and Global Materials of Applied Materials from August 1999 to March 2003. Prior to that time, Mr.Canty held operational roles with various companies, including 3Com Corporation and NeXT Computer.
The Company’s wholly-owned subsidiary, Ichor Systems, Inc., and Mr.Canty have entered into an “at will” employment offer letter. to the offer letter, Mr.Candy will be (i)paid an annual base salary of $310,000, (ii) eligible to earn an annual cash bonus targeted at 50% of his base salary, (iii)granted restricted stock units representing 20,000 ordinary shares and stock options to acquire 60,000 ordinary shares, and (iv)eligible to participate in health and welfare benefit programs offered to other Company employees.
There are no family relationships between Mr.Canty and any director, executive officer or nominees thereof of the Company. There are no related party transactions between the Company and Mr.Canty that would require disclosure under Item 404(a) of Regulation S-K under the Securities Exchange Act of 1934, as amended
The above summary of Mr.Canty’s employment offer letter does not purport to be complete and is qualified in its entirety by the employment offer letter, a copy of which will be filed with the Company’s Quarterly Report on Form 10-Q for the third fiscal quarter.
A copy of the press release announcing Mr.Canty’s appointment as Chief Operating Officer is attached hereto as Exhibit 99.1.
Appointment of Director
On August9, 2017, the Company also announced that Marc Haugen has been appointed to the Company’s board of directors, effective immediately.
Mr.Haugen, 52, most recently served as the Executive Vice President, Global Operations and Engineering of Cepheid, a Danaher Corporation company, from March 2016 to March 2017. Previously, Mr. Haugen served as Group Vice President, Worldwide Operations and Supply Chain of Applied Materials from September 2013 to February 2016. Mr. Haugen also served in various positions with Lam Research from 1998 to 2013, including Corporate Vice President, Global Product Operations. He began his career as an officer in the US Navy and after completing his service joined Applied Materials in a variety of Operations roles through the Director level from 1991 to 1998.
Mr.Haugen will be paid an annual retainer of $50,000 for serving on the board and will receive a grant of restrict stock units representing 4,352 ordinary shares, subject to vesting over a four-year period based on continued service on the board.
Mr.Haugen has not been appointed to any committees of the board. There are no family relationships between Mr.Haugen and any director, executive officer or nominees thereof of the Company. There are no related party transactions between the Company and Mr.Haugen that would require disclosure under Item 404(a) of Regulation S-K under the Securities Exchange Act of 1934, as amended.
A copy of the press release announcing Mr.Haugen’s appointment to the board of directors is attached hereto as Exhibit 99.2.
Item 5.02. Financial Statements and Exhibits.
| 99.1 | Press Release, dated August9, 2017, announcing the appointment of Kevin M. Canty as Chief Operating Officer. |
| 99.2 | Press Release, dated August9, 2017, announcing the appointment of Marc Haugen to the board of directors. |
ICHOR HOLDINGS, LTD. ExhibitEX-99.1 2 d398153dex991.htm EXHIBIT 99.1 Exhibit 99.1 Exhibit 99.1 Ichor Systems Announces Kevin Canty to Join as Chief Operating Officer August 9,…To view the full exhibit click here
About ICHOR HOLDINGS, LTD. (NASDAQ:ICHR)
Ichor Holdings, Ltd. is engaged in the design, engineering and manufacturing of fluid delivery subsystems for semiconductor capital equipment. The Company’s primary offerings include gas and chemical delivery subsystems, collectively known as fluid delivery subsystems. Its gas delivery systems consist of gas lines, each controlled by a series of mass flow controllers, regulators, pressure transducers and valves, and an integrated electronic control system. Its gas delivery subsystems are used in equipment for dry manufacturing processes, such as etch, physical vapor deposition, epitaxy and strip. Its chemical delivery subsystems are used to precisely blend and dispense reactive chemistries and colloidal slurries critical to the specific wet front-end process, such as wet clean, electro chemical deposition (ECD) and chemical-mechanical planarization (CMP). It manufactures various components for internal use in fluid delivery systems and for direct sales to its customers.
