01—Abstract
Summary
Summary of the 8-K filed March 14, 2025. Cited figures are marked; the original filing is the authoritative source.
Skyworks Solutions, Inc. filed this Form 8-K on March 14, 2025 under Item 5.02 to report a leadership and compensation change.
On March 12, 2025, the Board of Directors, following a March 11, 2025 recommendation from the Compensation Committee, appointed Reza Kasnavi, a current named executive officer, to the newly created position of Executive Vice President, Chief Operations and Technology Officer, effective March 15, 2025 (the "Promotion Date"). In connection with the promotion, Mr. Kasnavi's annual base salary increases from $650,000 to $700,000,a effective on the Promotion Date. His target cash incentive under the Fiscal Year 2025 Executive Incentive Plan (FY2025 EIP) rises from 80% of his prior base salary to 90% of his new base salary, with the opportunity to earn up to two times the target award if the Company exceeds its fiscal 2025 target performance metrics.
Any FY2025 EIP payment will be prorated based on the Promotion Date. The filing's only exhibit is the Cover Page Interactive Data File (Exhibit 104), which is a formatting document rather than substantive disclosure. For investors, the filing signals a expanded operations and technology role for a senior executive, with compensation adjusted to reflect it.
02—Key points
Key Highlights
- Reza Kasnavi, a current named executive officer, was appointed to the newly created position of Executive Vice President, Chief Operations and Technology Officer.
- The Board made the appointment on March 12, 2025, upon a March 11, 2025 recommendation of the Compensation Committee, effective March 15, 2025.
- Annual base salary increases from $650,000 to $700,000 effective on the Promotion Date.
- Target cash incentive under the FY2025 EIP rises from 80% of prior base salary to 90% of new base salary.
- Maximum incentive opportunity is up to two times the target award if fiscal 2025 performance metrics are exceeded.
- Any FY2025 EIP award will be prorated based on the Promotion Date.
- The only listed exhibit is Exhibit 104, the Inline XBRL cover page file.
03—Questions
Frequently Asked Questions
What is the new role Reza Kasnavi is taking on?
He was appointed Executive Vice President, Chief Operations and Technology Officer, a position the filing describes as new, effective March 15, 2025.
How is Mr. Kasnavi's compensation changing?
His annual base salary rises from $650,000 to $700,000, and his target FY2025 EIP cash incentive increases from 80% to 90% of the new base salary, with a maximum of two times target for exceeding performance metrics.
Who approved the appointment and when?
The Board of Directors approved the appointment on March 12, 2025, following a March 11, 2025 recommendation from the Compensation Committee.
Will Mr. Kasnavi receive a full-year FY2025 incentive payment?
No. Any FY2025 EIP cash incentive award will be prorated based on the March 15, 2025 Promotion Date.
04—Continue