CYPRESS SEMICONDUCTOR CORPORATION (NASDAQ:CY) 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 September 5, 2017, the Board of Directors (the “Board”) of Cypress Semiconductor Corporation (the “Company”) appointed Catherine P. Lego as a new member of the Board. Ms. Lego is the founder, owner and principal of Lego Ventures, LLC, a California-based firm that provides consulting services to early-stage technology companies. Ms. Lego currently serves on the boards of Lam Research Corporation and IPG Photonics Corporation, and previously served on the boards of several other publicly traded companies, including Fairchild Semiconductor International, Inc. and SanDisk Corporation.The appointment was effective September 6, 2017. The Board also appointed Ms. Lego to serve on the Audit Committee of the Board. Ms. Lego will stand for reelection at the Company’s next annual meeting of stockholders (currently scheduled for summer 2018).
In accordance with the Company’s non-employee director compensation policy, Ms. Lego received: (a) an initial equity grant of restricted stock units (with a value of approximately $200,000), which vests in three equal annual installments, with the first tranche vesting on September 6, 2018, and (b) a pro-rated annual equity grant of restricted stock units (with a value of approximately $166,667), which vests in full on the day before the Company’s next annual meeting of stockholders (currently scheduled for summer 2018).
A copy of the Company’s press release announcing the election of Ms. Lego is attached hereto as Exhibit 99.1 and incorporated herein by reference.
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Item 5.02 |
Financial Statements and Exhibits. |
(d) Exhibits
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Exhibit No. |
Description |
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99.1 |
Press Release, dated September 6, 2017. |
CYPRESS SEMICONDUCTOR CORP /DE/ ExhibitEX-99.1 2 exhibit991.htm EXHIBIT 99.1 Exhibit EX 99.1Contacts:Samer BahouCypress PR(408) 232-4552samer.bahou@cypress.comFor Immediate ReleaseCypress Appoints Catherine Lego to Board of DirectorsExperienced Technology and Semiconductor Board Member Known forExcellent Corporate Governance Will Support Execution of Company StrategySAN JOSE,…To view the full exhibit click here
About CYPRESS SEMICONDUCTOR CORPORATION (NASDAQ:CY)
Cypress Semiconductor Corporation delivers solutions from automotive, industrial and networking platforms to interactive consumer and mobile devices. The Company’s segments include Programmable Systems Division, Memory Products Division, Data Communications Division and Emerging Technologies Division. The Programmable Solutions Division designs and develops solutions for end-product manufacturers. The Memory Products Division designs and manufactures portfolio of high-performance memories for embedded systems. The Data Communications Division focuses on solutions for industrial, handset and consumer applications. The Emerging Technologies Division consists of its subsidiaries, AgigA Tech, Inc. and Deca Technologies, Inc. Its product portfolio includes NOR flash memories, Traveo microcontrollers, programmable system-on-chip solutions, CapSense capacitive touch-sensing controllers, and Wireless Bluetooth Low-Energy and universal serial bus (USB) connectivity solutions.