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SYNAPTICS Inc 8-K-A Analysis & Summary – 3/14/2025

⚠️This is not investment advice.

⚠️ This is an experimental project and this report is for informational purposes only and should not be considered investment advice. Conduct your own thorough research and consult with a qualified financial advisor before making any investment decisions. ⚠️

SYNAPTICS Inc
,

Filing date:

03/14/2025

TLDR:

This 8-K/A filing provides details on the compensation arrangements for the interim CEO and Executive Chairman following the resignation of the previous CEO.

ELI5:

The company Synaptics temporarily appointed a new CEO and Chairman and is paying them extra for taking on these roles.

Accession #:

0000817720-25-000020

Published on

Analyst Summary

  • Michael Hurlston resigned as President and CEO, effective February 3, 2025.
  • Ken Rizvi (current CFO) was appointed as interim CEO and principal executive officer.
  • Nelson Chan (Chairman of the Board) was appointed as interim Executive Chairman.
  • Rizvi’s base salary increased by $240,000 per annum, and his target bonus increased by 55%.
  • Chan will receive $40,000 per month as Interim Cash Compensation.
  • Rizvi will receive the Interim Cash Compensation Adjustment for the greater of six months or until a new CEO is appointed.
  • Chan will receive his Interim Cash Compensation Adjustment until a new CEO is appointed.
  • Chan will not serve on any committees of the Board that require all members to be independent under the Applicable Rules during his service as Interim Executive Chair.

⚠️ This is an experimental project and this report is for informational purposes only and should not be considered investment advice. Conduct your own thorough research and consult with a qualified financial advisor before making any investment decisions. ⚠️