secwatch.observer — SEC 8-K summary
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Issuer:     MERCURY SYSTEMS INC (MRCY)
CIK:        0001049521
Form:       8-K
Filed at:   2024-01-17T23:59:59+00:00
Accession:  0001049521-24-000003
Event type: other_material
Sentiment:  neutral
Materiality: 0.75
Item codes: 2.05, 5.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Mercury Systems cuts ~100 jobs, expects $10-12M restructuring charge; names Roger Wells COO
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- Workforce reduction of ~100 positions with expected restructuring charges of $10-12M in fiscal Q3 ending March 29, 2024.
- Consolidates Mission Systems and Microelectronics divisions into one unified structure to simplify organization.
- Appoints Charles R. Wells IV as EVP, COO effective Jan 22, 2024; base salary $450K, bonus target 110%, LTIP target $1.4M plus $500K promotion awards.
- Christine Harbison (Chief Growth Officer) and Allen Couture (EVP Execution Excellence) departing after transition period.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1049521/000104952124000003/0001049521-24-000003-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1049521/000104952124000003/mrcy-20240112.htm
  HTML page:      https://secwatch.observer/filing/0001049521-24-000003

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