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Nanometrics 8-K 2016

Documents found in this filing:

  1. 8-K
  2. 8-K
nano-8k_20160222.htm

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

February 22, 2016

Date of Report (date of earliest event reported)

Nanometrics Incorporated

(Exact name of Registrant as specified in charter)

 

Delaware

 

000-13470

 

94-2276314

(State or other jurisdiction

of incorporation)

 

(Commission

File Number)

 

(I. R. S. Employer

Identification No.)

1550 Buckeye Drive, Milpitas, California 95035

(Address of principal executive offices)

Registrant's telephone number, including area code: (408) 545-6000

N/A

(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:

 

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.

On February 22, 2016, the Compensation Committee (the “Committee”) of the Board of Directors of Nanometrics Incorporated established the 2016 base salaries and 2016 target bonuses for Nanometric’s Chief Executive Officer and Chief Financial Officer as follows:

 

Executive Officer

 

2016 Base Salary

 

2016 Target Bonus (as a % of Base Salary)

Timothy J. Stultz, Ph.D., CEO

 

$500,000

 

100%

Jeffrey Andreson, CFO

 

$340,000

 

60%

 

The 2016 base salaries will be effective March 28, 2016. Actual bonus for 2016 for these executive officers may range between 0% and 200% of the target bonus amount depending on Nanometrics' actual financial performance as compared to specified targets of 2016 revenues and non-GAAP operating income (defined as GAAP operating income as adjusted for amortization of intangibles and certain non-recurring items).

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.

 

Dated: February 26, 2016

 

NANOMETRICS INCORPORATED

 

 

 

 

/S/    Jeffrey Andreson

 

 

Jeffrey Andreson

Chief Financial Officer

 

 

Duly Authorized Officer

 

 

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