INFINERA CORPORATION (NASDAQ:INFN) Files An 8-K Results of Operations and Financial Condition
Item 2.02
Home SEC Filings INFINERA CORPORATION (NASDAQ:INFN) Files An 8-K Results of Operations and Financial Condition
On May 8, 2019, Infinera Corporation (the “Company”) issued a press release announcing financial results for its first quarter ended March 30, 2019. The Company also posted on the Investor Relations section of its website (www.infinera.com) a CFO Commentary with respect to its first quarter ended March 30, 2019. Copies of the press release and CFO Commentary are furnished as Exhibits 99.1 and 99.2, respectively, to this Current Report on Form 8-K. Information on the Company’s website is not, and will not be deemed, a part of this report or incorporated into any other filings the Company makes with the Securities and Exchange Commission.
In accordance with General Instruction B.2 of Form 8-K, the information in Item 2.02 of this Current Report on Form 8-K, including Exhibit 99.1 and Exhibit 99.2, are being furnished under Item 2.02 and shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liability of that section, nor shall such information be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, regardless of the general incorporation language of such filing, except as shall be expressly set forth by specific reference in such a filing.
The press release and CFO Commentary furnished herewith as Exhibit 99.1 and Exhibit 99.2, respectively, refer to certain non-GAAP financial measures. A reconciliation of these non-GAAP financial measures to the comparable GAAP financial measures is contained in each exhibit.
On May 7, 2019, Brad D. Feller, the Chief Financial Officer (“CFO”) of the Company, informed the Company of his intention to resign as CFO effective as of a date still to be determined no later than the end of the third quarter of fiscal 2019. The Company has agreed with Mr. Feller that he will continue to serve as CFO during this transition period (the “Transition Period”) while the Company conducts a search for his successor. As an incentive for Mr. Feller to continue in a transition role, he will continue to receive his regular base salary and benefits and, upon his termination, the Company will provide Mr. Feller a separation payment of $1.5 million and 18 months of COBRA benefits. During the Transition Period, Mr. Feller will continue to (i) fulfill his duties as the CFO; (ii) oversee the implementation and consolidation of the Company’s enterprise resource planning system; and (iii) help in the transition of a new CFO and other personnel, as appropriate. Other than the foregoing separation payment and COBRA benefits, Mr. Feller will not be entitled to any other payments, bonuses, severance or other compensation for his transition service.
In the event the Company terminates Mr. Feller’s employment without “cause” prior to the end of the Transition Period he will be entitled to receive the separation payment described above.
In any case, Mr. Feller is required to enter into the Company’s standard release and waiver agreement to receive the separation payment.
INFINERA Corp Exhibit
EX-99.1 2 infn-05082019xex991.htm EXHIBIT 99.1 Exhibit Exhibit 99.1Infinera Corporation Reports First Quarter 2019 Financial Results Sunnyvale,…
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EX-99.1 2 infn-05082019xex991.htm EXHIBIT 99.1 Exhibit Exhibit 99.1Infinera Corporation Reports First Quarter 2019 Financial Results Sunnyvale,…
To view the full exhibit click
hereAbout INFINERA CORPORATION (NASDAQ:INFN)
Infinera Corporation is a provider of optical transport networking systems to service providers. The Company operates through optical transport networking systems segment. The Company serves Tier 1 and Tier 2 telecommunications service providers, Internet content providers, cable operators, wholesale and enterprise carriers, research and education institutions and government entities around the world. Its product portfolio consists of DTN-X family of platforms, the Infinera DTN platform, the Infinera Cloud Xpress platform, the Infinera TM-Series, the Infinera TG-Series and the Infinera ATN platform addressing subsea, long-haul and metro networks. The Company manufactures indium phosphide photonic integrated circuits, which are used as a differentiating component inside its intelligent transport network platforms. The Company’s software and services include Infinera Open Transport Switch, Infinera Management Suite and Customer Support Services.
