8-KLeadership Changes

ATI INC 8-K Report, Executive Changes (Mar 7, 2024)

Filed March 7, 2024For Securities:ATI

Summary

ATI Inc. has announced a key executive appointment, naming Michael B. Miller as its new Vice President, Corporate Controller and Chief Accounting Officer, effective March 7, 2024. This appointment is a significant development for investors as it fills a crucial financial leadership role within the company. Mr. Miller brings a wealth of experience from his previous roles, including Chief Accounting Officer at Digital Turbine, Inc. and various senior accounting positions at CyrusOne, Inc. and L3 Technologies. His background also includes experience in public accounting with major firms like PricewaterhouseCoopers and KPMG, and he is a certified public accountant. This diverse experience in finance and accounting, particularly within the aerospace and technology sectors, suggests a strong foundation for overseeing ATI's financial reporting and internal controls. The compensation package for Mr. Miller includes a base salary of $330,000, an annual performance bonus target of 50% of his base salary, a $150,000 signing bonus, and a substantial initial equity award valued at $250,000, vesting over three years. He will also be eligible for future annual equity awards. This compensation structure aims to attract and retain experienced financial leadership, aligning the new officer's interests with those of the company and its shareholders.

Key Highlights

  • 1ATI Inc. appointed Michael B. Miller as Vice President, Corporate Controller and Chief Accounting Officer on March 7, 2024.
  • 2Mr. Miller has extensive experience, including Chief Accounting Officer at Digital Turbine, Inc., and roles at CyrusOne, Inc. and L3 Technologies.
  • 3His background includes public accounting experience with PricewaterhouseCoopers, LLP and KPMG, LLP.
  • 4Mr. Miller is a certified public accountant (CPA).
  • 5His annual base salary will be $330,000.
  • 6He will receive a $150,000 signing bonus and a $250,000 initial equity award vesting over three years.
  • 7Future annual equity awards will be granted, consistent with current executive compensation programs.

Frequently Asked Questions

The new Vice President, Corporate Controller and Chief Accounting Officer is Michael B. Miller, appointed on March 7, 2024.

Mr. Miller has significant experience as Chief Accounting Officer at Digital Turbine, Inc., VP and Corporate Controller at CyrusOne, Inc., and various accounting roles at L3 Technologies. He also has a background in public accounting with PricewaterhouseCoopers and KPMG, and is a CPA.

The compensation includes an annual base salary of $330,000, a target annual performance award of 50% of his base salary, a $150,000 signing bonus, and an initial equity award valued at $250,000 vesting over three years. He will also receive future annual equity awards.

Mr. Miller's $150,000 signing bonus is payable on March 31, 2024.