ENOVIX CORP: Change of directors or main management, financial statements and supporting documents (form 8-K)
Item 5.02 Departure of Directors or Principal Officers; Election of directors; Appointment of key executives; Compensatory provisions of certain agents.
Compensation of senior management
Annual Base Name Title Salary Harrold Rust President and Chief Executive Officer and Director
$480,000Ashok Lahiri Chief Technology Officer $325,000Cameron Dales Chief Commercial Officer $325,000Steffen Pietzke Chief Financial Officer $350,000Edward J. Hejlek Chief Legal Officer, General Counsel and Secretary $325,000
Name Title Target Bonus Harrold Rust President and Chief Executive Officer and Director 100% Ashok Lahiri Chief Technology Officer 60% Cameron Dales Chief Commercial Officer 60% Steffen Pietzke Chief Financial Officer 60% Edward J. Hejlek Chief Legal Officer, General Counsel and Secretary 60%
Name Title Special Bonus Harrold Rust President and Chief Executive Officer and Director
$120,000Ashok Lahiri Chief Technology Officer $52,500Cameron Dales Chief Commercial Officer $48,750Steffen Pietzke Chief Financial Officer $48,750Edward J. Hejlek Chief Legal Officer, General Counsel and Secretary $48,750Director Compensation
Annual cash holdback
Under the compensation policy for non-employee directors, each of our non-employee directors is entitled to receive the following cash compensation for services rendered to our board of directors and its committees, as follows:
Title Annual Cash Retainer All Eligible Directors (the "Eligible Director Retainer"): $ 45,000 Chairperson of the Board (in addition to Eligible Director Retainer): $ 25,000
Lead independent director (in addition to the mandate of eligible director):
$ 15,000 Chairperson of the Audit Committee: $ 15,000 Member of the Audit Committee: $ 7,500 Chairperson of the Compensation Committee: $ 10,000 Member of the Compensation Committee: $ 5,000 Chairperson of the Nominating and Corporate Governance Committee: $ 10,000 Member of the Nominating and Corporate Governance Committee: $ 5,000
Annual cash benefits are payable in equal quarterly installments, in arrears after the end of each quarter in which the service was rendered, pro rata to any partial quarter. Board members will not receive any additional compensation for attending board or committee meetings.
Compensation in shares
As of the date hereof, each non-employee director currently on our board of directors has been granted a restricted share unit grant (âRSU grantâ) covering the number of shares of our common shares. equal to (i)
Each non-employee director elected or appointed to our board of directors after the date hereof will automatically, on the date of his or her election or initial appointment as a non-employee director (or, if that date is not a working day , on the next business day), receive a PSU grant covering the number of shares of our common shares equal to (i)
At the close of business on the date of each annual meeting of shareholders held after the date hereof, each non-employee director will automatically be granted a PSU grant covering the number of shares of our common shares equal to ( i)
In the event of a change of control (as defined in our 2021 stock-based incentive plan), all the then outstanding share grants that have been granted in accordance with the compensation policy for non-employee directors will become fully vested immediately before the closing of this change of control, subject to the continuous service of the non-salaried director with us on the closing date of the change of control.
All PSU awards will be issued in accordance with the terms of our 2021 Stock Incentive Plan.
The foregoing description of the Remuneration Policy for Non-Employee Directors is not complete and is submitted and qualified in its entirety by reference to the Remuneration Policy for Non-Employee Directors, a copy of which is attached hereto as Exhibit 10.1. and is incorporated herein by reference. .
Item 9.01 Financial statements and supporting documents.
(d) Exhibits Exhibit No. Description 10.1 Enovix Corporation Non-Employee Director Compensation Policy 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). 3
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