Kulicke & Soffa declassifies board with phased annual elections through 2029; terminates $150M facility

KULICKE & SOFFA INDUSTRIES INC

Terminated $150M overdraft facility with MUFG Bank; no outstanding balance and no early termination penalties.
Board approved bylaw amendment to declassify the board, phasing in annual director elections over four years.
Starting 2026 annual meeting, each expiring director will be elected for one-year terms; full annual elections by 2029.
Existing multi-year directors continue until their terms expire; Board vacancies filled until next election.
Amended and restated bylaws effective June 5, 2025.

Key facts

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Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

KULICKE & SOFFA INDUSTRIES INC: Declassified the Board to provide for annual election of all directors phased in over four years, with full annual elections beginning 2029 (effective 2025-06-05).

Change: bylaw amendment
Effective: 2025-06-05

Exact text from the filing

On June 5, 2025, the Board of Directors (the “ Board ”) of Kulicke and Soffa Industries, Inc. (the “ Company ”) approved an amendment and restatement of the Company’s Amended and Restated By-Laws (as so amended and restated, the “ By-Laws ”) to declassify the Board and provide for the annual election of all directors, phased in over a four-year period.

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Source: SEC EDGAR

accession 0000056978-25-000061

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