8-KLeadership Changes

COHERENT CORP. 8-K Report, Executive Changes (May 14, 2018)

Filed May 14, 2018For Securities:COHR

Summary

II-VI Incorporated (now Coherent Corp.) announced a significant change to its Board of Directors with the appointment of Enrico Digirolamo, effective May 11, 2018. Mr. Digirolamo's extensive financial background, including his most recent role as CFO of Covisint Corporation and prior executive positions at Allstate Insurance and General Motors Europe AG, brings valuable experience to the company's governance. His appointment is expected to enhance the board's strategic oversight and financial acumen, particularly as the company navigates its growth and operational landscape.

Key Highlights

  • 1Enrico Digirolamo appointed as a Class Two Director to the Board of Directors, effective May 11, 2018.
  • 2Mr. Digirolamo is considered an independent director under NASDAQ listing standards.
  • 3Mr. Digirolamo brings a strong financial background, having served as CFO of Covisint Corporation since May 2014.
  • 4Previous experience includes roles as Senior Vice President at Allstate Insurance and CFO at General Motors Europe AG.
  • 5Mr. Digirolamo will receive standard compensation for non-employee directors, including cash, restricted stock, and stock options starting in fiscal year 2019.
  • 6No reportable related-party transactions or arrangements involving Mr. Digirolamo are disclosed.
  • 7The filing was signed by Mary Jane Raymond, Chief Financial Officer and Treasurer, on May 14, 2018.

Frequently Asked Questions

Enrico Digirolamo has been appointed as a Class Two Director to the Board of Directors of II-VI Incorporated, effective May 11, 2018. He is considered an independent director and brings a significant financial background to the board.

Mr. Digirolamo's most recent role was Chief Financial Officer of Covisint Corporation from May 2014. Previously, he served as Senior Vice President – Sales & Marketing and Finance at Allstate Insurance and as Chief Financial Officer and Vice President of General Motors Europe AG.

Mr. Digirolamo will receive pro-rated standard annual cash compensation and expense reimbursement for the remainder of the 2018 fiscal year. Starting in fiscal year 2019, his compensation will include a cash retainer, grants of restricted stock, stock options, and reimbursement of expenses, consistent with the company's arrangements for non-employee directors.

No, the filing states that there were no arrangements or understandings between Mr. Digirolamo and any other person regarding his election, nor any transactions required to be disclosed under Item 404(a) of Regulation S-K.