Applied Materials, Inc. (NASDAQ:AMAT) 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 Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On January22, 2018, the Board of Directors (the “Board”) of Applied Materials, Inc. (“Applied”) appointed Scott A. McGregor to serve as a member of the Board, effective immediately. The Board expects to appoint Mr.McGregor as a member of the Audit Committee in March 2018 following the Board’s annual review of committee assignments.
Upon Mr.McGregor’s appointment to the Board, he will receive the standard compensation applicable to non-employee directors: (1)an annual retainer of $70,000 (prorated based on his service during the fiscal year) and (2)an automatic grant of a number of restricted stock units equal to $225,000, divided by the market value of Applied common stock on the date of his appointment, and prorated based on the period beginning on the date of Mr.McGregor’s appointment and ending on March8, 2018, the date of the 2018 Annual Meeting of Stockholders. The restricted stock units are scheduled to vest in full on March1, 2018, subject to Mr.McGregor’s continued service as a director through that date.
About Applied Materials, Inc. (NASDAQ:AMAT)
Applied Materials, Inc. provides manufacturing equipment, services and software to the global semiconductor, display and related industries. The Company’s segments are Semiconductor Systems, which includes semiconductor capital equipment for etch, rapid thermal processing, deposition, chemical mechanical planarization, metrology and inspection, wafer packaging, and ion implantation; Applied Global Services, which provides integrated solutions to optimize equipment and fab performance and productivity; Display and Adjacent Markets, which includes products for manufacturing liquid crystal displays, organic light-emitting diodes, upgrades and roll-to-roll Web coating systems and other display technologies for televisions, personal computers, smart phones and other consumer-oriented devices, and Corporate and Other segment, which includes revenues from products, as well as costs of products sold for fabricating solar photovoltaic cells and modules, and certain operating expenses.