secwatch.observer — SEC 8-K summary
======================================

Issuer:     FORMFACTOR INC (FORM)
CIK:        0001039399
Form:       8-K
Filed at:   2022-07-26T23:59:59+00:00
Accession:  0001039399-22-000070
Event type: other_material
Sentiment:  neutral
Materiality: 0.30
Item codes: 5.02
LLM model:  deepseek-v4-flash:cloud@v2

FormFactor approves new severance agreements for execs and CEO with auto-renewal and expanded trigger period
--------------------------------------------------------------------------------

- Compensation Committee approved new Change of Control Severance Agreements on July 19, 2022.
- Agreements automatically renew annually unless Company gives 90 days notice before renewal date.
- Benefits now triggered by involuntary termination within 90 days prior to change of control (previously only 12 months after).
- CEO Mike Slessor's agreement: upon involuntary termination or resignation for good reason, receives full annual target bonus instead of pro-rated.
- CFO Shai Shahar and other executives entered into the new agreements; prior agreements superseded.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1039399/000103939922000070/0001039399-22-000070-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1039399/000103939922000070/form-20220719.htm
  HTML page:      https://secwatch.observer/filing/0001039399-22-000070

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