8-KLeadership ChangesExhibits & Filings

COHERENT CORP. 8-K Report, Executive Changes (Feb 1, 2016)

Filed February 1, 2016For Securities:COHR

Summary

This Form 8-K filing from II-VI Incorporated (now Coherent Corp.) on February 1, 2016, announces the appointment of Gary Alan Kapusta as the new Chief Operating Officer (COO). Mr. Kapusta brings significant experience from his previous roles at The Coca-Cola Company, including leadership positions such as President & CEO of Coca-Cola Bottlers’ Sales & Services L.L.C. His compensation package includes an initial annual salary of $350,000, with potential annual bonuses increasing from $138,500 in fiscal 2016 to $332,500 in fiscal 2017. He will also receive equity awards in the form of stock options and restricted stock, with specific vesting schedules. The appointment of a COO with a strong background suggests a focus on operational efficiency and strategic growth for II-VI Incorporated.

Key Highlights

  • 1Appointment of Gary Alan Kapusta as Chief Operating Officer (COO) effective February 1, 2016.
  • 2Mr. Kapusta's prior experience includes various leadership roles at The Coca-Cola Company.
  • 3Initial annual salary for Mr. Kapusta is $350,000.
  • 4Eligible for an annual incentive bonus, potentially up to $138,500 for fiscal 2016, increasing to $332,500 for fiscal 2017.
  • 5Receives equity awards: 30,000 stock options vesting over five years and 40,000 restricted shares vesting on the third anniversary.
  • 6Eligible for standard employee benefits and subject to confidentiality and non-competition agreements.
  • 7The role of COO was previously unfilled, indicating a strategic addition to the executive team.

Frequently Asked Questions

Gary Alan Kapusta has been appointed as the new Chief Operating Officer. He has extensive experience, having served in various leadership positions at The Coca-Cola Company for the past five years, including President & CEO of Coca-Cola Bottlers’ Sales & Services L.L.C.

Mr. Kapusta will receive an initial annual salary of $350,000. He is also eligible for an annual incentive bonus, with a potential of up to $138,500 for fiscal 2016, increasing to $332,500 for fiscal 2017. Additionally, he will receive equity grants including stock options and restricted stock with specific vesting schedules.

The appointment of a COO, a position that was previously unfilled, suggests a strategic move by II-VI Incorporated to strengthen its operational leadership. This indicates a potential focus on improving operational efficiency, driving growth, and managing the company's expanding operations.

Yes, Mr. Kapusta is eligible for an annual incentive bonus tied to the achievement of pre-established goals. He will also receive equity grants: 30,000 stock options that vest over five years, and 40,000 shares of restricted stock that vest in full on the third anniversary of the grant date.