secwatch.observer — SEC 8-K summary
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Issuer:     KEY TRONIC CORP (KTCC)
CIK:        0000719733
Form:       8-K
Filed at:   2022-08-04T23:59:59+00:00
Accession:  0000719733-22-000045
Event type: other_material
Sentiment:  neutral
Materiality: 0.45
Item codes: 5.02
LLM model:  deepseek-v4-flash:cloud@v2

Key Tronic raises CEO/CFO salaries, sets FY2023 bonus targets, long-term incentive up to $1.2M
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- CEO Craig Gates bi-weekly salary increased from $31,306 to $33,810; CFO Brett Larsen from $16,735 to $17,739, effective July 29, 2022.
- FY2023 incentive plan: CEO bonus range 10-150% of base salary based on profit goal performance tiers (entry/expected/overachievement).
- Long-term incentive plan FY2023-2025: CEO target $1.2M, CFO $570k, exec VP $450k, based on sales growth vs. industry and ROIC.
- Stock appreciation rights granted: CEO 25,000 SARS, CFO 11,250, exec VP 10,000, directors 3,750 each; vest tied to ROIC relative to peers.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/719733/000071973322000045/0000719733-22-000045-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/719733/000071973322000045/a8-k2022lticp.htm
  HTML page:      https://secwatch.observer/filing/0000719733-22-000045

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer