MICRON TECHNOLOGY, INC. (NASDAQ:MU) 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 of Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On October 24, 2017, the Compensation Committee of the Board of Directors of Micron Technology, Inc., a Delaware corporation (“Micron”), approved an amendment to the executive severance agreements in place with several of its executive officers, including Named Executive Officers Scott J. DeBoer, Ernest E. Maddock, Brian M. Shirley and Steven L. Thorsen, Jr., to eliminate upon the executive officer’s voluntary termination or termination for cause any vesting credit during the severance period for time-based and performance-based equity awards granted on or after October 24, 2017.Messers. DeBoer, Maddock, Shirley and Thorsen signed the amendment on November 10, 2017. A description of the material terms of the executive severance agreements was included in the Company’s Definitive Proxy Statement on Schedule 14A (File No. 001-10658) as filed with the Securities and Exchange Commission on December 8, 2016, and such description is incorporated herein by reference. A copy of the form of amendment is attached hereto as Exhibit 99.1.
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Item 9.01. |
Financial Statements and Exhibits. |
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(d) Exhibits. |
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Exhibit No. |
Description |
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99.1 |
Form of Amendment to Executive/Severance Agreement |
INDEX TO EXHIBITS FILED WITH
THE CURRENT REPORT ON FORM 8-K
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Exhibit |
Description |
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99.1 |
Form of Amendment to Executive/Severance Agreement
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MICRON TECHNOLOGY INC ExhibitEX-99.1 2 exhibit991formofamendmentt.htm EXHIBIT 99.1 Exhibit EXHIBIT 99.1FORM OFAMENDMENT TO EXECUTIVE/SEVERANCE AGREEMENTThis Amendment to the Executive/Severance Agreement (the “Executive/Severance Agreement”) is entered into by and between Micron Technology,…To view the full exhibit click here
About MICRON TECHNOLOGY, INC. (NASDAQ:MU)
Micron Technology, Inc. is engaged in semiconductor systems. The Company’s portfolio of memory technologies, including dynamic random-access memory (DRAM), negative-AND (NAND) Flash and NOR Flash are the basis for solid-state drives, modules, multi-chip packages and other system solutions. Its business segments include Compute and Networking Business Unit (CNBU), which includes memory products sold into compute, networking, graphics and cloud server markets; Mobile Business Unit (MBU), which includes memory products sold into smartphone, tablet and other mobile-device markets; Storage Business Unit (SBU), which includes memory products sold into enterprise, client, cloud and removable storage markets, and SBU also includes products sold to Intel through its Intel/Micron Flash Technology (IMFT) joint venture, and Embedded Business Unit (EBU), which includes memory products sold into automotive, industrial, connected home and consumer electronics markets.
