PERCEPTRON, INC. (NASDAQ:PRCP) 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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PERCEPTRON, INC. (NASDAQ:PRCP) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02.Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On December 6, 2016, the Board of Directors of Perceptron, Inc. (the “Company”) appointed Michelle Wright as Corporate Controller and Chief Accounting Officer of the Company and named her as the Company’s principal accounting officer, effective December 7, 2016. This appointment was made in connection with the previously announced promotion of David Watza as the Company’s President, Chief Executive Officer and Chief Financial Officer.

Ms. Wright, 45, has been with the Company since November 2015 as Corporate Controller. Prior to joining the Company, Ms. Wright was Global Corporate Controller with Sandler and Travis Trade Advisory Services, Inc. (“STTAS”) from January 2015 to November 2015, where she was responsible for STTAS’s global accounting, financial reporting, budgeting, forecasting and contract pricing review. Prior to her role with STTAS, she was with Tecumseh Products Company from August 2011 through December 2014, as the Director of Accounting and Corporate Controller, where she was responsible for external / SEC reporting, corporate accounting and technical accounting issues. Ms. Wright began her career as an auditor with KPMG before transitioning to corporate accounting and finance. Ms. Wright possesses more than 20 years of experience in manufacturing, finance and service companies with responsibilities in accounting and finance. Ms. Wright earned her Bachelor of Business Administration at the University of Michigan and her Master of Business Administration at Wayne State University.

Ms. Wright will be eligible to participate in the Company’s Fiscal 2017 Executive Short Term Incentive Plan with a bonus potential level targeted at 15% of her annual salary, prorated to the date of her appointment as Corporate Controller and Chief Accounting Officer. The Management Development, Compensation and Stock Option Committee awarded Ms. Wright non-qualified options to purchase 10,000 shares of the Company’s Common Stock, under the Company’s 2004 Stock Incentive Plan, on December 6, 2016, with a grant date effective January 3, 2017. The options will be issued on the current form of Non-Qualified Stock Option Agreement for Employees. The options will become exercisable in three equal annual installments beginning January 3, 2018 at an exercise price equal to the fair market value of the Company’s Common Stock as of January 3, 2017.

 


About PERCEPTRON, INC. (NASDAQ:PRCP)

Perceptron, Inc. develops, produces and sells a range of automated industrial metrology products and solutions to manufacturing organizations for dimensional gauging, dimensional inspection and three-dimensional (3D) scanning. The Company’s products include 3D machine vision solutions, robot guidance, coordinate measuring machines (CMMs), laser scanning and advanced analysis software. The Company’s products are categorized as In-Line, Near-Line and Off-Line Measurement Solutions (Measurement Solutions); 3D Scanning Solutions, and Value Added Services. Its In-Line and Near-Line measurement solutions include AutoGauge, AutoFit, AutoScan, AutoGuide and Helix. Its Off-Line measurement solutions include Coord3 and TouchDMIS. Its 3D Scanning Solutions include ScanWorks, ScanR and WheelWorks. Its Value Added Services include training, field service, calibration, launch support services, maintenance agreements and repairs. The Company operates in the Americas, Europe and Asia.

PERCEPTRON, INC. (NASDAQ:PRCP) Recent Trading Information

PERCEPTRON, INC. (NASDAQ:PRCP) closed its last trading session up +0.08 at 6.70 with 11,554 shares trading hands.

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