Summary
KLA-Tencor Corporation (KLAC) filed an 8-K on September 18, 2008, to report a change in its Board of Directors. Lida Urbanek, a director since April 1997, has informed the company of her decision not to seek re-election at the upcoming Annual Meeting of Stockholders on November 13, 2008. This departure is not due to any disagreement with management or the company's operations, policies, or practices. Ms. Urbanek will continue to serve on the Board until the Annual Meeting.
Key Highlights
- 1Director Lida Urbanek will not stand for re-election at the November 13, 2008 Annual Meeting.
- 2Ms. Urbanek has served on the KLA-Tencor Board since April 1997, and previously on Tencor Instruments' Board from August 1991.
- 3Her decision not to seek re-election is not attributed to any disagreement with management.
- 4Upon her resignation, Ms. Urbanek is entitled to immediate delivery of vested restricted stock units.
- 5She will also receive prorated vesting of her unvested restricted stock units, reflecting her service through the resignation date.
- 6The company expressed gratitude for Ms. Urbanek's 17 years of service.