Summary
This filing is an amendment to a previous Form 8-K report filed by Micron Technology, Inc. on December 12, 2007. The amendment serves to correct previously reported share numbers. The primary focus of this amendment is the acceleration of restricted stock vesting for W.G. Stover, Jr., the former Chief Financial Officer, who resigned in November 2007. The Compensation Committee accelerated the lapse of restrictions on a total of 46,067 shares (26,467 originally scheduled and an additional 19,600 shares) in recognition of his approximately 20 years of service and as part of his severance agreement. These shares were subject to restrictions that would have lapsed over the course of approximately one year following his resignation.
Key Highlights
- 1Amendment to a previous Form 8-K filing to correct reported share numbers.
- 2Acceleration of restricted stock vesting for former CFO W.G. Stover, Jr.
- 3Total of 46,067 restricted shares had vesting restrictions accelerated.
- 4Acceleration was granted in recognition of Mr. Stover's approximately 20 years of service.
- 5The acceleration aligns with terms of Mr. Stover's severance agreement.
- 6Mr. Stover resigned effective November 29, 2007, after announcing his intention in July 2007.
Frequently Asked Questions
This filing is an amendment to a previous Form 8-K to correct inaccuracies in the share numbers that were reported in the initial filing on December 12, 2007.
The amendment details the acceleration of vesting restrictions on restricted shares held by W.G. Stover, Jr., the former Chief Financial Officer, effective December 6, 2007.
A total of 46,067 shares of restricted stock had their vesting restrictions accelerated. This was done by the Compensation Committee in recognition of Mr. Stover's approximately 20 years of service with the company and was part of his severance agreement.
W.G. Stover, Jr. terminated his employment with Micron Technology, Inc. on November 29, 2007.