KEMET Corporation (NYSE:KEM) 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 Compensation Committee of the Board of Directors of KEMET Corporation (the “Company”) approved the grant of 100,000 restricted stock units (“RSUs”) to Per-Olof Loof (“Mr. Loof”), the Company’s Chief Executive Officer, with a September 6, 2017 grant date. The RSUs vest in three equal annual installments beginning on September 6, 2018, subject to Mr. Loof remaining continuously employed with the Company from the date of grant through March 31, 2019, Mr. Loof’s compliance with the non-compete and non-solicitation terms contained in Section 6 of the Amended and Restated Employment Agreement between the Company and Mr. Loof, dated June 29, 2015 (the “Employment Agreement”) and Mr. Loof not having been terminated for Cause (as such term is defined in Mr. Loof’s Employment Agreement). Upon (or shortly after) vesting, the RSUs will be settled in the form of a corresponding number of shares of common stock of the Company.
About KEMET Corporation (NYSE:KEM)
KEMET Corporation (KEMET) is a manufacturer of passive electronic components. The Company operates in two segments: Solid Capacitors, and Film and Electrolytic. The Solid Capacitors segment primarily produces tantalum, aluminum, polymer and ceramic capacitors. Solid Capacitors also produces tantalum powder used in the production of tantalum capacitors. The Film and Electrolytic Business Group produces film, paper and wet aluminum electrolytic capacitors. It also designs and produces EMI Filters. The Company’s product offerings include surface mount, which are attached directly to the circuit board; leaded capacitors, which are attached to the circuit board using lead wires, and chassis-mount and other pin-through-hole board-mount capacitors, which utilize attachment methods, such as screw terminal and snap-in. The Company sells its products to a range of original equipment manufacturers (OEMs) and electronics manufacturing services (EMS) providers.