PIXELWORKS, INC. (NASDAQ:PXLW) 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.
(d) On March 28, 2019, the board of directors (the “Board”) of Pixelworks (the “Company”) approved an increase in the size of the Board from five (5) to six (6) members and appointed Amy Bunszel as a director to serve until the next annual meeting of shareholders or until she resigns or is removed, and until her successor is duly elected and qualified.
In connection with her appointment to the Board Ms. Bunszel was granted an option to purchase 33,484 shares of the Company’s common stock, consistent with the grants made to any new director.Additionally, Ms. Bunszel will receive the standard cash compensation payable to all of the Company’s non-employee directors, will enter into the Company’s standard form of indemnification agreement, and will be subject to the Company’s minimum equity investment requirement for directors, which, as of February 13, 2019, required that within five (5) years of the date of initial appointment to the Board, directors must have minimum equity holdings in the Company of at least $115,000.
There are no arrangements or understandings between Ms. Bunszel and any other persons to which she was selected as a director. There are no current or proposed transactions between the Company and Ms. Bunszel or her immediate family members requiring disclosure under Item 404(a) of Regulation S-K promulgated by the Securities and Exchange Commission.
On April 1, 2019, the Company issued a press release announcing the appointment of Ms. Bunszel to the Board of Directors. The full text of the Company’s press release is attached as Exhibit 99.1 to this report and is incorporated by reference herein.
Item 9.01Financial Statements and Exhibits.
PIXELWORKS, INC Exhibit
EX-99.1 2 pressreleasedirectorelecti.htm PRESS RELEASE Exhibit Exhibit 99.1Pixelworks Appoints Amy Bunszel to Board of DirectorsBunszel Adds Extensive Experience in Visual-Centric Software Product Strategy and InnovationSAN JOSE,…
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About PIXELWORKS, INC. (NASDAQ:PXLW)
Pixelworks, Inc. designs, develops and markets video and pixel processing semiconductors, intellectual property cores, software and custom application specific integrated circuit (ASIC) solutions for digital video applications. The Company is engaged in the design and development of integrated circuits (ICs) for use in electronic display devices. It provides its customers with software development tools and with software that provides basic functionality for its ICs and enables connectivity of its customers’ products. Its primary target markets include digital projection systems, Ultrabook devices, tablets and smartphones. Its video display processing technologies include Halo Free Motion Estimation and Motion Compensation (MEMC), Advanced Scaling, Mobile Video Display Processing, and Vuemagic and Networked Displays. Its primary video display processor product categories include ImageProcessor ICs, Video Co-Processor ICs and Networked Display ICs.