Cohu, Inc. (NASDAQ:COHU) 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.
(d) Appointment of New Director
On December 18, 2018, the Board of Directors (the “Board”) of Cohu, Inc. (“Cohu”) increased the size of the Board from eight to nine directors and filled the newly created vacancy on the Board by appointing Ritu Favre to join the Board as a Class 1 director whose term will expire at Cohu’s 2020 annual meeting of stockholders. Ms. Favre was also appointed to the Compensation Committee. Such increase and appointment are effective as of January 2, 2019. There is no arrangement or understanding between Ms. Favre and Cohu or any other person to which she was selected as a director.
Ms. Favre will be compensated in accordance with the director compensation program as described in Cohu’s definitive Proxy Statement filed with the Securities and Exchange Commission (the “SEC”) on April 3, 2018, the description of which is incorporated herein by reference; provided, that for 2019 the Board has increased the annual cash retainer to $60,000, paid in quarterly installments, and increased the total value of the director annual restricted stock unit (“RSU”) grant to $125,000. For the pro-rated period from appointment to the next scheduled director annual equity grant, Ms. Favre will receive RSUs with a total value of $43,151.
Ms. Favre was provided, and is expected to sign, Cohu’s standard form of indemnification agreement for directors, which is attached as Exhibit 10.1 to Cohu’s Form 8-K filed with the SEC on December 13, 2018.
A copy of the Company’s press release relating to this announcement is being furnished as Exhibit 99.1 to this Form 8-K.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
Exhibit No. – 99.1
Description – Cohu Appoints Ritu Favre to its Board of Directors, dated December 19, 2018
Index of Exhibits
COHU INC Exhibit
EX-99.1 2 ex_131821.htm EXHIBIT 99.1 ex_131821.htm Exhibit 99.1 Cohu Appoints Ritu Favre to its Board of Directors POWAY,…
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About Cohu, Inc. (NASDAQ:COHU)
Cohu, Inc. is a supplier of semiconductor test and inspection handlers, micro-electro mechanical system (MEMS) test modules, test contactors and thermal sub-systems used by global semiconductor manufacturers and test subcontractors. The Company develops, manufactures, sells and services a line of equipment capable of handling a range of integrated circuits and light-emitting diodes (LEDs). It operates through semiconductor equipment segment. It offers products for the pick-and-place, gravity-feed, test-in-strip and turret handling, MEMS, burn-in and system-level test markets. It sells various products, including Delta EDGE, Delta MATRiX, Delta Pyramid, Delta Summit, Delta Eclipse, Delta LinX, Rasco SO1000, Rasco SO2000, Rasco Saturn and Jupiter, Rasco Jaguar, Ismeca NY32, Ismeca NY20 and Delta Fusion HD. Its principal manufacturing operations are located in Poway, California (Delta); Laguna, Philippines; Kolbermoor, Germany (Rasco), and Suzhou, China (Ismeca-kits).
