Cohu Inc.

28/06/2024 | Press release | Distributed by Public on 29/06/2024 03:18

Management Change/Compensation Form 8 K

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On June 25, 2024, Cohu, Inc. (the "Company) and Thomas D. Kampfer, Senior Vice President Corporate Development, General Counsel and Secretary of the Company agreed that Mr. Kampfer would transition to a part-time role with the Company effective July 15, 2024. Mr. Kampfer will reduce his time to 60% and focus his responsibilities as Senior Vice President Corporate Development, reporting to Mr. Luis A. Müller, President and Chief Executive Officer of the Company. Mr. Kampfer will no longer be deemed an executive officer of the Company as of July 15, 2024. Consistent with the Company's succession plan, Mr. Kampfer's legal and corporate secretary duties will be assumed by Ms. Emily R. Lough, presently Vice President, Assistant General Counsel and Assistant Secretary. Ms. Lough joined the Company in October 2023.
In connection with his part-time position, Mr. Kampfer's annual base salary will be reduced by 40% from the present level of $405,000 to $243,000. His annual participation under the Company's short-term incentive plan will be pro-rated to account for his part-time service. Other material terms of his employment, including remaining eligible for continued vesting of outstanding unvested equity awards, will remain unchanged and as described in the Company's definitive proxy statement for the 2024 annual meeting of stockholders filed with the Securities and Exchange Commission on April 22, 2024.