BENCHMARK ELECTRONICS, INC. (NYSE:BHE) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

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BENCHMARK ELECTRONICS, INC. (NYSE:BHE) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On July 17, 2017, Benchmark Electronics, Inc. (the “Company”) issued a press release announcing the appointment of Michael D. Buseman, age 56, as Executive Vice President of Global Operations. His appointment will be effective August 7, 2017.

Mr. Buseman served as Chief Global Logistics and Operations Officer of Avnet, Inc., a global electronics components company, from November 2013 to July 2017. From 2007-November 2013, he was Executive Vice President of Global Manufacturing Operations of Plexus Corp., having served as its Vice President of Global Technology, Quality and Facilities since 2006. Mr. Buseman previously served as Vice President and General Manager of Operations of Celestica, Inc., as well as its Director, Operations, Engineering, and Technology. He began his career in 1983 with Unisys, Inc., holding positions of increasing responsibility, including Principal Process Engineer and Director of Advanced Design Manufacturing Services. Mr. Buseman holds a BS in Mechanical Engineering from South Dakota State University and an MBA from the University of St. Thomas, Minnesota.

Mr. Buseman’s compensation will include the following:

· an award of restricted stock units to the Company’s 2010 Omnibus Incentive Compensation Plan, as amended (the “Plan”) with a fair market value of $350,000 based on the closing price of the Company’s common stock on his start date, which will be scheduled to vest in equal annual installments of 25%; and

· an award of performance-based restricted stock units (“PSUs”) to the Plan with a fair market value of $350,000 based on the closing price of the Company’s common stock on his start date, which will be scheduled to vest on the same date and subject to the same performance criteria as the PSUs awarded to the Company’s other executives earlier this year.

Item 8.01. Other Events.

On July 17, 2017, the Company issued a press release relating to the matters described under Item 5.02. The press release is incorporated herein by reference to Exhibit 99.1 filed herewith.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits

Exhibit 99.1 Press Release


BENCHMARK ELECTRONICS INC Exhibit
EX-99.1 2 ex99_1.htm EXHIBIT   Exhibit 99.1 FOR IMMEDIATE RELEASE   Benchmark Electronics Announces the Appointment of Michael Buseman as Executive Vice President of Global Operations   SCOTTSDALE,…
To view the full exhibit click here

About BENCHMARK ELECTRONICS, INC. (NYSE:BHE)

Benchmark Electronics, Inc. is a provider of integrated electronic manufacturing services. The Company provides services to original equipment manufacturers of industrial control equipment, including equipment for the aerospace and defense industry; telecommunication equipment; computers and related products for business enterprises; medical devices, and testing and instrumentation products. It has three segments: the Americas, Asia and Europe. It offers integrated design and manufacturing services. Its operations consist of over three principal areas: manufacturing and assembly operations, including printed circuit boards assemblies and subsystem assembly, box build and systems integration; precision technology manufacturing, which include precision machining, metal joining, assembly and functional testing, and specialized engineering services, and specialized engineering services, such as product design, printed circuit board layout, prototyping, automation and test development.