8-KLeadership ChangesExhibits & Filings

ENTEGRIS INC 8-K Report, Executive Changes (Jul 9, 2008)

Filed July 9, 2008For Securities:ENTG

Summary

Entegris, Inc. (ENTG) filed an 8-K on July 9, 2008, reporting significant executive leadership changes. Effective July 7, 2008, Jean-Marc Pandraud resigned as Executive Vice President and Chief Operating Officer. Bertrand Loy was appointed to succeed Mr. Pandraud as Executive Vice President and Chief Operating Officer, effective July 3, 2008, with his appointment officially taking effect on July 7, 2008. Mr. Loy brings extensive experience, having previously served as Executive Vice President and Chief Administrative Officer since the merger of Entegris and Mykrolis in 2005, and prior to that, as CFO of Mykrolis Corporation. In addition to Mr. Loy's promotion, Gregory B. Graves, previously Senior Vice President and Chief Financial Officer, was promoted to Executive Vice President and Chief Financial Officer, effective July 3, 2008. These appointments reflect strategic adjustments in the company's senior management team. The filing also details the compensation packages and equity awards associated with these executive transitions, including base salaries, incentive plan eligibility, restricted stock grants, and stock options for Mr. Loy, and a restricted stock award and severance agreement for Mr. Graves.

Key Highlights

  • 1Resignation of Jean-Marc Pandraud as Executive Vice President and Chief Operating Officer, effective July 7, 2008.
  • 2Appointment of Bertrand Loy as Executive Vice President and Chief Operating Officer, effective July 7, 2008.
  • 3Bertrand Loy's prior experience includes EVP & Chief Administrative Officer at Entegris and CFO at Mykrolis Corporation.
  • 4Promotion of Gregory B. Graves to Executive Vice President and Chief Financial Officer, effective July 3, 2008.
  • 5Bertrand Loy to receive an annual base salary of $375,000 and eligibility for the Entegris Incentive Plan.
  • 6Bertrand Loy granted 50,000 shares of restricted stock vesting over three years and an option for 150,000 shares.
  • 7Gregory B. Graves granted 50,000 shares of restricted stock vesting over two years and a two-year severance agreement.

Frequently Asked Questions

The key executive changes are the resignation of Jean-Marc Pandraud as EVP and COO and the appointment of Bertrand Loy to succeed him. Additionally, Gregory B. Graves has been promoted to EVP and CFO.

Bertrand Loy will receive an annual base salary of $375,000. He is eligible to participate in the Entegris Incentive Plan with a target payout of 75% of his base salary. He was also granted 50,000 shares of restricted stock vesting over three years and an option to purchase 150,000 shares of common stock.

Gregory B. Graves was promoted to Executive Vice President and Chief Financial Officer. In connection with this promotion, he received an award of 50,000 shares of restricted stock vesting over two years. He will also have a two-year severance agreement providing two years of base salary and medical benefits in the event of termination by the company.

The filing states that Bertrand Loy has no family relationship with any director or other executive officer of the registrant. There are also no disclosed transactions or proposed transactions between Mr. Loy and the registrant that require disclosure under Item 404(a) of Regulation S-K.