8-KLeadership ChangesExhibits & Filings

ENTEGRIS INC 8-K Report, Executive Changes (Apr 11, 2023)

Filed April 11, 2023For Securities:ENTG

Summary

Entegris, Inc. (ENTG) announced a significant leadership change in its finance department, appointing Linda LaGorga as the new Senior Vice President and Chief Financial Officer (CFO), effective May 15, 2023. Ms. LaGorga brings a wealth of experience from her previous roles at Honeywell International Inc., including CFO of its UOP business unit, and prior experience in investment banking at Goldman Sachs and as global treasurer at Bausch Health Companies. This appointment signals a transition following the planned retirement of the current CFO, Greg Graves, who will stay on in a transitional role until his retirement on July 7, 2023. Ms. LaGorga's compensation package reflects her senior role, including a base salary of $550,000, an annual target bonus of 70% of base salary, and a substantial initial long-term incentive equity grant valued at $3,000,000. This grant is structured with a mix of restricted share units, stock options, and performance share units. She will also be eligible for annual equity awards and a change-in-control agreement, alongside severance benefits in the event of termination without cause. The appointment of Ms. LaGorga is a key development for investors seeking to understand the company's financial leadership continuity and strategic direction.

Key Highlights

  • 1Appointment of Linda LaGorga as new SVP and CFO, effective May 15, 2023.
  • 2Greg Graves, current CFO, to retire July 7, 2023, after a transition period.
  • 3Ms. LaGorga joins Entegris from Honeywell International Inc., with extensive financial leadership experience.
  • 4Initial compensation package for Ms. LaGorga includes a $550,000 base salary and a 70% target bonus.
  • 5Ms. LaGorga to receive a significant initial long-term equity grant valued at $3,000,000.
  • 6The initial equity grant comprises 40% time-based RSUs, 30% stock options, and 30% performance share units.
  • 7Greg Graves will serve as a Special Advisor to the CEO during his transition period.

Frequently Asked Questions

Linda LaGorga has been appointed as the new Senior Vice President, Chief Financial Officer of Entegris, effective May 15, 2023.

Ms. LaGorga joins Entegris from Honeywell International Inc., where she held several senior financial roles, including vice president and CFO of its UOP business unit. Her prior experience includes roles at Goldman Sachs and Bausch Health Companies, and she holds an MBA from Harvard Business School.

Ms. LaGorga will receive a base salary of $550,000 per year, is eligible for an annual target bonus of 70% of her base salary, and will receive an initial long-term incentive equity grant valued at $3,000,000. She will also be eligible for annual equity awards and has specific terms for severance and change-in-control events.

Greg Graves, the current CFO, announced his retirement plans earlier this year and will step down from his CFO role on May 15, 2023. He will remain with the company as a Special Advisor to the CEO to assist with transition matters and special projects until his retirement on July 7, 2023.