UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported)
September 10, 2016
AMKOR TECHNOLOGY, INC.
(Exact name of registrant as specified in its charter)
DELAWARE | 000-29472 | 23-1722724 | ||
(State or Other Jurisdiction of Incorporation) | (Commission File Number) | (IRS Employer Identification No.) | ||
2045 East Innovation Circle
Tempe, AZ 85284
(Address of Principal Executive Offices, including Zip Code)
(480) 821-5000
(Registrant’s telephone number, including area code)
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:
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
(b), (c) & (e)
On September 10, 2016, the Board of Directors (the “Board”) of Amkor Technology, Inc. (the “Company”) appointed Megan Faust to serve as Corporate Vice President and Chief Financial Officer. Ms. Faust succeeds Joanne Solomon, who is leaving the Company to pursue other opportunities, effective September 12, 2016.
Ms. Faust, 42, has served as the Company’s Senior Vice President, Corporate Controller since 2013 and Corporate Controller since 2010. Prior to joining the Company in 2005, Ms. Faust served as an auditor with KPMG, LLP for 10 years. She holds an MBA from Arizona State University, a BS in Accountancy from Northern Arizona University and is a Certified Public Accountant in Arizona.
In connection with her appointment, Ms. Faust will receive an annual base salary of $300,000, will be eligible for an annual cash incentive under the Company’s 2016 Executive Bonus Plan with a target incentive opportunity of 75% of base salary and will be granted options to purchase 75,000 shares of our common stock. The options will have an exercise price equal to fair market value of our common stock on the date of grant and will vest over four years as follows: 25% of the shares subject to the option will vest on the first anniversary of the grant date and 1/16th of the shares subject to the option will vest quarterly thereafter. There are no arrangements or understandings between Ms. Faust and any other persons pursuant to which she was chosen to become an officer, she has no direct or indirect material interest in any transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K and she has no family relationship with any director or executive officer of the Company.
Ms. Solomon entered into an agreement and release with the Company that provides for her to receive (i) a lump sum of $460,000 (one-year base salary), (ii) a lump sum amount equal to the bonus she would have been paid, if any, under the Company’s 2016 Executive Bonus Plan when payments are made to participants generally under the plan, (iii) reasonable costs of outplacement services, and (iv) payment of health insurance premiums for up to twelve months. Further, Ms. Solomon’s unvested stock options and shares of restricted stock and vested stock options will be treated in accordance with the terms of the applicable award agreement. The agreement and release also contains confidentiality, non-solicitation, non-disparagement and other customary provisions and is subject to non-revocation of a general release by Ms. Solomon.
Item 8.01. Other Events.
A copy of the Company’s press release announcing the events described under Item 5.02 above is included in this filing as Exhibit 99.1.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
Exhibit Description
99.1 Press release issued by Amkor Technology, Inc. on September 12, 2016.
SIGNATURES
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.
AMKOR TECHNOLOGY, INC. | |||
By: | /s/ Gil C. Tily | ||
Gil C. Tily | |||
Executive Vice President, Chief Administrative Officer, General Counsel and Corporate Secretary | |||
Date: September 13, 2016
Index to Exhibits
Exhibit | Description | |
99.1 | Press release issued by Amkor Technology, Inc. on September 12, 2016. | |
News Release
Amkor Announces Appointment of New Chief Financial Officer
TEMPE, Ariz. - September 12, 2016 - Amkor Technology, Inc. (Nasdaq: AMKR), a leading outsourced semiconductor packaging and test service provider, today announced that Megan Faust, Amkor’s Senior Vice President, Corporate Controller since 2013, has been appointed Corporate Vice President and Chief Financial Officer. Ms. Faust succeeds Joanne Solomon, who has left the Company to pursue other opportunities.
“We are pleased to announce Megan’s appointment as our new CFO,” said Steve Kelley, Amkor's president and chief executive officer. “She has the right skills and deep experience with Amkor to lead our global finance organization.”
“I also want to thank Joanne for her dedication and many contributions to Amkor over the years, and wish her continued success in the future,” noted Kelley.
Ms. Faust joined Amkor in 2005 and brings more than 20 years of finance and accounting experience to her new position as CFO, including her service as Corporate Controller of Amkor since 2010. Prior to joining Amkor, Ms. Faust served as an auditor with KPMG, LLP for 10 years. She holds an MBA from Arizona State University, a BS in Accountancy from Northern Arizona University and is a Certified Public Accountant in Arizona.
About Amkor Technology, Inc.
Amkor Technology, Inc. is one of the world’s largest providers of outsourced semiconductor packaging and test services. Founded in 1968, Amkor pioneered the outsourcing of IC packaging and test, and is now a strategic manufacturing partner for more than 250 of the world’s leading semiconductor companies, foundries and electronics OEMs. Amkor’s operating base includes more than 8 million square feet of floor space, with production facilities, product development centers, and sales and support offices located in key electronics manufacturing regions in Asia, Europe and the U.S. For more information, visit www.amkor.com.
Amkor Contact
Greg Johnson
Vice President, Finance and Investor Relations
480-786-7594
greg.johnson@amkor.com