UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant To Section 13 Or 15(d) Of The Securities Exchange Act Of 1934
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(Exact name of registrant as specified in its charter)
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(State or Other Jurisdiction of) Incorporation
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(Commission File Number)
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(Address of principal executive offices)
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(Zip Code)
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(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the
following provisions:
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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Pre-commencement communications pursuant to Rule 13e-4© under the Exchange Act (17 CFR 240.13©(c))
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this
chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new
or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Securities registered pursuant to Section 12(b) of the Act:
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Title of each class
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| Item 5.02 |
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
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On May 23, 2024, Photronics, Inc. (the “Company”) named Eric Rivera Chief Financial Officer. Mr. Rivera previously held the role of Interim Chief Financial
Officer since February 2024 and has served as Chief Accounting Officer since 2020. He is the Company’s Principal Financial Officer and Principal Accounting Officer.
Mr. Rivera will be compensated $350,000 annually for his role as Chief Financial Officer. Mr. Rivera is also entitled to participate in employee benefit
plans and arrangements as established by the Company for similarly situated executives. Mr. Rivera is also entitled to receive a car allowance in accordance with the Company’s policies.
A press release describing the foregoing was issued on May 28, 2024 and is filed with this current report on Form 8-K as Exhibit 99.1.
| Item 9.01. |
Financial Statements and Exhibits.
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(d) Exhibits
99.1 Press
Release dated May 28, 2024
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly
authorized.
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PHOTRONICS, INC.
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(Registrant)
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| By: | /s/ Richelle E. Burr | |
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Name:
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Richelle E. Burr | |
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Title:
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Executive Vice President,
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| Chief Administrative Officer,
General Counsel and Secretary
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Date: May 29, 2024
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Exhibit 99.1
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For Further Information:
Eric Rivera
Vice President & CFO
203.740.5283
erivera@photronics.com
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Photronics Announces Chief Financial Officer Appointment
BROOKFIELD, Conn. May 28, 2024 (GLOBE NEWSWIRE) — Photronics, Inc. (NASDAQ:PLAB), a worldwide leader in
photomask technologies and solutions, today announced that Eric Rivera, has been promoted to chief financial officer, effective immediately. Eric previously held the role of interim CFO since February 2024 and served as chief accounting officer since
2020.
“I am pleased to have Eric join our leadership team in this important role as we work together to continue growing profitably and creating shareholder value,” said Frank
Lee, chief executive officer. “His experience at Photronics and his overall financial knowledge will be valuable to our finance organization and the entire company. I look forward to partnering with Eric on strategic priorities as we position the
company for a successful future.”
Eric Rivera added, “We have a strong team here at Photronics and I am grateful for this opportunity. Working closely with our leadership on strategic priorities, I’m
excited to help drive profitable growth and continue focusing on the financial health of the company.”
About Photronics
Photronics is a leading worldwide manufacturer of integrated
circuit (IC) and flat panel display (FPD) photomasks. High precision quartz plates that contain microscopic images of electronic circuits, photomasks are a key element in the IC and FPD
manufacturing process. Founded in 1969, Photronics has been a trusted photomask supplier for over 50 years. As of October 31, 2023, the company had approximately 1,885 employees. The company operates 11 strategically located manufacturing facilities in Asia, Europe, and North America. Additional information on the company can be accessed at www.photronics.com.