---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-23-048406"
form_type: "8-K"
ticker: "ONTO"
cik: "0000704532"
company_name: "ONTO INNOVATION INC."
filed_at: "2023-09-15T23:59:59+00:00"
generated_at: "2026-06-10T16:54:32.523247+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.15
calibrated_materiality_score: 0.15
confidence: "high"
source: SEC EDGAR
---

# Onto Innovation enters new employment agreement with CEO Michael P. Plisinski

## Summary
- CEO to receive $700K base salary, 110% target bonus, and annual equity grants (time- and performance-based RSUs).
- Three-year term auto-renewing; severance equals 2x base salary over 24 months on termination without cause.
- Upon change-in-control termination, severance includes 2x base + 2x target bonus, full equity acceleration.
- Non-compete for 12 months (24 months if breach of fiduciary duty); 24-month non-solicitation.
- Agreement effective Sep 15, 2023, replacing November 2015 employment agreement.

## SEC filing metadata
- accession: 0000950170-23-048406
- form_type: 8-K
- ticker: ONTO
- cik: 0000704532
- company_name: ONTO INNOVATION INC.
- filed_at: 2023-09-15T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.15
- calibrated_materiality_score: 0.15
- confidence: high
- sec_items: 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/704532/000095017023048406/0000950170-23-048406-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/704532/000095017023048406/onto-20230915.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-23-048406
- JSON: https://secwatch.observer/filing/0000950170-23-048406.json
- Plain text: https://secwatch.observer/filing/0000950170-23-048406.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.