ICHOR HOLDINGS, LTD. (NASDAQ:ICHR) 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 Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Appointment of Chief Financial Officer
On November13, 2017, Ichor Holdings, Ltd. (the “Company”) announced the hiring of Jeffrey S. Andreson as Chief Financial Officer. Mr.Andreson is expected to commence employment with the Company on December6, 2017.
Mr.Andreson, 56, joins Ichor from Nanometrics Incorporated, where he has served as Chief Financial Officer since September 2014. Previously, Mr.Andreson was Executive Vice President, Finance and Administration, Chief Financial Officer, Treasurer and Secretary of Intevac, Inc. from August 2007 to September 2014. From June to August 2007, Mr.Andreson held the position of Executive Vice President, Finance at Intevac. Prior to joining Intevac, Mr.Andreson spent 12 years with Applied Materials in various controllership positions within the company, most recently as Managing Director, Controller of the $2-billion Applied Global Services product group. From 1989 through 1995, Mr.Andreson held various financial management roles at Measurex Corporation. Mr.Andreson holds an M.B.A. from Santa Clara University and a B.S. in Finance from San Jose State University.
The Company’s wholly-owned subsidiary, Ichor Systems, Inc., and Mr.Andreson have entered into an “at will” employment offer letter, effective November10, 2017. to the offer letter, Mr.Andreson will be (i)paid an annual base salary of $360,000, (ii) paid a one-time sign on bonus of $200,000, payable in the first quarter of 2018, subject to certain conditions, (iii)eligible to earn an annual cash bonus targeted at 65% of his base salary, (iv)granted restricted stock units representing 24,000 ordinary shares and stock options to acquire 54,000 ordinary shares and (v)eligible to participate in health and welfare benefit programs offered to other Company employees. In addition, the offer letter provides that if Mr.Andreson’s employment is terminated without “cause” within twelve months of a “change of control,” he will be entitled to receive a severance payment equal to twelve months of his base salary.
There are no family relationships between Mr.Andreson and any director, executive officer or nominees thereof of the Company. There are no related party transactions between the Company and Mr.Andreson that would require disclosure under Item 404(a) of RegulationS-Kunder the Securities Exchange Act of 1934, as amended.
The above summary of Mr.Andreson’s employment offer letter does not purport to be complete and is qualified in its entirety by the employment offer letter, a copy of which will be filed with the Company’s Annual Report on Form10-Kfor fiscal year 2017.
A copy of the press release announcing Mr.Andreson’s appointment as Chief Financial Officer is attached hereto as Exhibit 99.1.
Item 5.02. Financial Statements and Exhibits.
ICHOR HOLDINGS, LTD. ExhibitEX-99.1 2 d491447dex991.htm EX-99.1 EX-99.1 Exhibit 99.1 Press Release JEFF ANDRESON TO JOIN ICHOR AS CHIEF FINANCIAL OFFICER FREMONT,…To view the full exhibit click
About ICHOR HOLDINGS, LTD. (NASDAQ:ICHR)
Ichor Holdings, Ltd. is engaged in the design, engineering and manufacturing of fluid delivery subsystems for semiconductor capital equipment. The Company’s primary offerings include gas and chemical delivery subsystems, collectively known as fluid delivery subsystems. Its gas delivery systems consist of gas lines, each controlled by a series of mass flow controllers, regulators, pressure transducers and valves, and an integrated electronic control system. Its gas delivery subsystems are used in equipment for dry manufacturing processes, such as etch, physical vapor deposition, epitaxy and strip. Its chemical delivery subsystems are used to precisely blend and dispense reactive chemistries and colloidal slurries critical to the specific wet front-end process, such as wet clean, electro chemical deposition (ECD) and chemical-mechanical planarization (CMP). It manufactures various components for internal use in fluid delivery systems and for direct sales to its customers.