secwatch.observer — SEC 8-K summary
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Issuer:     KEY TRONIC CORP (KTCC)
CIK:        0000719733
Form:       8-K
Filed at:   2023-08-17T23:59:59+00:00
Accession:  0000719733-23-000025
Event type: other_material
Sentiment:  neutral
Materiality: 0.50
Item codes: 5.02
LLM model:  deepseek-v4-flash:cloud@v2

Key Tronic sets FY2024 incentive plan; raises CFO salary; awards long-term targets up to $2.4M for CEO
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- FY2024 incentive plan: CEO potential payout 10%-150% of base salary based on profit goals; minimum profit required.
- CFO Brett Larsen's salary increased from $17,739 to $23,509 bi-weekly; Hochberg to $14,039.
- FY2024-2026 long-term incentive targets: CEO $1.2M, CFO $750K, EVP $450K; directors $75K each.
- Payouts range from $0 to 150% of target based on sales growth vs industry and ROIC performance.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/719733/000071973323000025/0000719733-23-000025-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/719733/000071973323000025/ktcc-20230810.htm
  HTML page:      https://secwatch.observer/filing/0000719733-23-000025

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