ULTRA CLEAN HOLDINGS, INC. (NASDAQ:UCTT) Files An 8-K Results of Operations and Financial ConditionItem 2.02 Results of Operations and Financial Condition
On July 27, 2017, Ultra Clean Holdings, Inc. (the “Company”) issued a press release announcing its financial results for its second fiscal quarter ended June 30, 2017. A copy of the Company’s press release is attached hereto as Exhibit 99.1.
The information furnished under Item 2.02 of this Current Report on Form 8-K, including the exhibit, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), nor shall it be deemed incorporated by reference into the Company’s filings with the SEC under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On July 27, 2017, the Company announced that its current Chief Executive Officer, Jim Scholhamer, will be taking a leave of absence to address a medical condition, starting July 31, 2017. He is expected to be on leave for approximately two months. During Mr. Scholhamer’s leave of absence, the Company has named Sheri Brumm, the Company’s current Chief Financial Officer and Senior Vice President, Finance, as the Company’s acting Chief Executive Officer.
Ms. Brumm, 46, has served as the Company’s Chief Financial Officer since July 2016. Ms. Brumm joined the Company as the Senior Director of Finance in April 2009. She was Senior Vice President of Finance and Chief Accounting Officer from February 2016 to July 2016. Prior to joining the Company, Ms. Brumm served at Credence Systems Corporation, a manufacturer of test equipment for the global semiconductor industry, as its Corporate Controller and Vice President of Finance from February 2008 to February 2009 and as Director of Internal Audit from May 2006 to February 2008. Prior to Credence Systems, Ms. Brumm served in various accounting and finance roles at Protiviti, a global business consulting and internal audit firm, and KLA-Tencor Corporation, a supplier of process control and yield management solutions for the semiconductor and related nanoelectronics industries. Ms. Brumm also served as Manager, Business Process Risk Accounting, at Arthur Anderson LLP, the former accounting firm, from May 1996 to October 1999. Ms. Brumm holds a Bachelor of Science degree in Managerial Economics from the University of California, Davis.
In recognition of Ms. Brumm’s expanded duties during Mr. Scholhamer’s leave of absence, Ms. Brumm’s annual target bonus will be increased from 75% to 50% of her base salary for the second half of fiscal 2017, and Ms. Brumm will receive an award of 10,000 restricted stock units that will vest in three equal installments on each anniversary of the grant date, subject to the terms and conditions of the Company’s Stock Incentive Plan.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits
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Exhibit No. |
Exhibit Description |
| 99.1 | Press Release dated July 27, 2017 |
Ultra Clean Holdings, Inc. ExhibitEX-99.1 2 dp78757_ex9901.htm EXHIBIT 99.1 Exhibit 99.1 Press Release Source: Ultra Clean Holdings,…To view the full exhibit click here
About ULTRA CLEAN HOLDINGS, INC. (NASDAQ:UCTT)
Ultra Clean Holdings, Inc. is engaged in the design, engineering and manufacture of production tools, modules and subsystems. The Company’s products include precision robotic solutions; gas delivery systems; a range of industrial and automation production equipment products; subsystems that includes wafer cleaning sub-systems, chemical delivery modules, top-plate assemblies, frame assemblies, and process modules. It offers its products for the semiconductor capital equipment and equipment industry segments. It also sells to the consumer, medical, energy, industrial, flat panel and research equipment industries. It is focused on providing specialized engineering and manufacturing solutions for these applications. It provides its original equipment manufacturing (OEM) customers an outsourced solution for the development, design, component sourcing, prototyping, engineering, manufacturing and testing of advanced systems. It principal markets include North America, Asia and Europe.