01—Abstract
Summary
Summary of the 8-K filed November 19, 2019. Cited figures are marked; the original filing is the authoritative source.
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,a 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.
02—Key points
Key Highlights
- Byron Jeffers appointed Global Controller and Chief Accounting Officer, effective November 18, 2019.
- Mr. Jeffers has served as Chief Accounting Officer on an interim basis since May 10, 2019.
- Jeffers possesses significant accounting and auditing experience from his tenure at First Solar and PricewaterhouseCoopers LLP.
- Annual base salary set at $280,000.
- Eligible for an annual bonus program with a 45% target bonus percentage.
- Receives a one-time bonus of $40,000 for interim service.
- No undisclosed related-party transactions or board committee service expected.
03—Questions
Frequently Asked Questions
What is the significance of Byron Jeffers' appointment as Global Controller and Chief Accounting Officer?
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.
What is Byron Jeffers' compensation package?
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.
Does Mr. Jeffers have any prior experience relevant to this role?
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.
Are there any potential conflicts of interest or unusual arrangements associated with Mr. Jeffers' appointment?
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.
04—Continue