NEOPHOTONICS CORPORATION (NYSE:NPTN) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

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NEOPHOTONICS CORPORATION (NYSE:NPTN) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS

On December14, 2017, NeoPhotonics Corporation (the “Company”) and Benjamin L. Sitler, mutually agreed that Mr.Sitler would resign from his role as Senior Vice President of Global Sales of the Company, effective as of February28, 2018 in order to pursue other opportunities. Mr.Sitler’s transition is not the result of any disagreement with the Company on any matter relating to the Company’s operations, policies or practices. Mr.Sitler is expected continue to serve in his position through February28, 2018.

In connection with his transition, Mr.Sitler entered into a separation agreement with the Company on December20, 2017. Under the separation agreement, Mr.Sitler will continue his current compensation arrangements and benefit plan eligibility with the Company through February28, 2018. Subject to Mr.Sitler’s execution of a general release of claims, the Company will provide Mr.Sitler the severance benefits specified in his retention agreement dated August5, 2016, which include (a)a single lump-sum amount equal to his current annual base salary of $290,000, (b)a cash payment in the amount of $72,000, which Mr.Sitler may, but is not required to use towards continued health coverage, and (c)accelerated vesting of Mr.Sitler’s outstanding equity awards that provide for time-based vesting as though the awards continued to vest for a period of eighteen (18) months following the date of termination of his employment with the Company.

The foregoing description of Mr.Sitler’s separation agreement is qualified in its entirety by reference to the full text of the separation agreement, which will be filed as an exhibit to the Company’s Annual Report on Form10-K for the fiscal ended December31, 2017.


About NEOPHOTONICS CORPORATION (NYSE:NPTN)

NeoPhotonics Corporation develops, manufactures and markets optoelectronic products that transmit, receive and switch digital optical signals for communications networks. The Company develops and manufactures Transmitter Products, Receiver Products and Switch Products that are used in ultra-high speed digital optical communications, high speed switching and provisioning, and access connections for wireless and fiber-to-the-home communications networks. Its products are categorized into groups, including High Speed Products and Network Products and Solutions. High Speed Products include products designed for 100G and beyond for telecom and datacenter or content provider networks and applications. Its Network Products and Solutions consist of various products designed for applications below 100G, and include 40G products. It combines its transmitter and receiver products into Transceiver modules.