8-KLeadership Changes

FIRST SOLAR, INC. 8-K Report, Executive Changes (Nov 19, 2019)

Filed November 19, 2019For Securities:FSLR

Summary

First Solar, Inc. announced the permanent appointment of Byron Jeffers as Global Controller and Chief Accounting Officer, effective November 18, 2019. Mr. Jeffers has been serving in this capacity on an interim basis since May 2019 and brings extensive experience from his previous roles within First Solar and his seven years at PricewaterhouseCoopers LLP. This appointment formalizes a key leadership position within the company's financial reporting structure. Mr. Jeffers' compensation package includes an annual base salary of $280,000, eligibility for an annual bonus program with a target of 45% of his base salary, and a one-time bonus of $40,000 in recognition of his interim service. He will also participate in standard employee benefits. This move signifies continuity and confidence in Mr. Jeffers' ability to oversee the company's accounting functions.

Key Highlights

  • 1Byron Jeffers appointed Global Controller and Chief Accounting Officer, effective November 18, 2019.
  • 2Mr. Jeffers has served as Chief Accounting Officer on an interim basis since May 10, 2019.
  • 3Jeffers possesses significant accounting and auditing experience from his tenure at First Solar and PricewaterhouseCoopers LLP.
  • 4Annual base salary set at $280,000.
  • 5Eligible for an annual bonus program with a 45% target bonus percentage.
  • 6Receives a one-time bonus of $40,000 for interim service.
  • 7No undisclosed related-party transactions or board committee service expected.

Frequently Asked Questions

The appointment of Byron Jeffers formalizes a key leadership role within First Solar's financial reporting. Having served on an interim basis, his permanent selection suggests the company's confidence in his ability to manage accounting operations and ensure compliance.

Mr. Jeffers will receive an annual base salary of $280,000, with the potential to earn an annual bonus of up to 45% of his base salary. Additionally, he will receive a one-time bonus of $40,000 for his prior interim service.

Yes, Mr. Jeffers joined First Solar in 2012 and held several senior accounting roles. Prior to that, he spent seven years as an Assurance Manager at PricewaterhouseCoopers LLP, gaining extensive experience in public accounting across various industries.

The filing states that Mr. Jeffers is not involved in any reportable transactions under Item 404(a) of Regulation S-K. He is also not expected to serve on any board committee and has no familial relationships with other directors or executive officers.