Everspin Technologies, Inc. (NASDAQ:MRAM) Files An 8-K Costs Associated with Exit or Disposal Activities

ME Staff 8-k

5 years ago

Everspin Technologies, Inc. (NASDAQ:MRAM) Files An 8-K Costs Associated with Exit or Disposal Activities
Item 2.05. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

Approval of 2020 Executive Officer Bonus Plan

On February 18, 2020, the Compensation Committee (the Committee) of the Board of Directors of Everspin Technologies, Inc. approved the Everspin Technologies, Inc. 2020 Executive Bonus Goals against which executive officers target bonuses will be assessed for determining executive officers actual bonuses for 2020 performance. The bonus goals comprise seven different categories, two of which are financial goals and three of which are technology development goals. Actual 2020 bonus for each executive officer is expected to be determined based upon percentage achievement of the established bonus goals multiplied by the executive officers target bonus.

About Everspin Technologies, Inc. (NASDAQ:MRAM)

Everspin Technologies, Inc. is a United States-based provider of magnetoresistive random-access memory (MRAM) solutions. The Company is engaged in designing, manufacturing and shipping discrete and embedded MRAM and spin-torque MRAM (ST-MRAM) into markets and applications. The Company’s products include 8-bit/16-bit Parallel Interface MRAM, Serial Peripheral Interface (SPI), Quad SPI and Double Data Rate (DDR) 3 dynamic random-access memory (DRAM) Compatible MRAM – Spin Torque Technology. The Company’s MR10Q010 Quad SPI MRAM is a memory solution for applications that store and retrieve data and programs. Its DDR3 DRAM Compatible MRAM – Spin Torque Technology is designed to comply with all DDR3 DRAM features, such as on-device termination (ODT) and internal ZQ calibration. Its family of both parallel asynchronous input/output (I/O) and serial peripheral interface (SPI) products in densities ranging from 256 kilobyte (Kb) to 16 megabyte (Mb) is available in die form.