secwatch.observer — SEC 8-K summary
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Issuer:     WOLFSPEED, INC. (WOLF)
CIK:        0000895419
Form:       8-K
Filed at:   2025-05-23T23:59:59+00:00
Accession:  0000895419-25-000076
Event type: other_material
Sentiment:  negative
Materiality: 0.80
Item codes: 5.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Wolfspeed appoints COO, targets EBITDA break-even at $800M revenue, enters grace period on interest payment
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- David Emerson appointed EVP/COO effective no later than June 30, 2025; base salary $500K with $2M in equity grants.
- Targets adjusted EBITDA break-even at $800M annualized revenue and positive unlevered OCF of ~$200M in FY2026.
- Targeting positive levered free cash flow in FY2027; ongoing constructive discussions with lenders.
- Elected to enter 30-day grace period for interest payment due June 2, 2025.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/895419/000089541925000076/0000895419-25-000076-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/895419/000089541925000076/wolfspeed-20250522.htm
  HTML page:      https://secwatch.observer/filing/0000895419-25-000076

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