secwatch.observer — SEC 8-K summary
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Issuer:     ILLUMINA, INC. (ILMN)
CIK:        0001110803
Form:       8-K
Filed at:   2023-02-07T23:59:59+00:00
Accession:  0001110803-23-000013
Event type: other_material
Sentiment:  neutral
Materiality: 0.55
Item codes: 5.02, 5.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Illumina board approves 8M-share reserve increase, extends stock plan to 2033
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- Share reserve increased by 8M shares; term extended to January 31, 2033, both subject to stockholder approval.
- New PSU forms: up to 175% of target based on relative TSR over 3 fiscal years; up to 150% based on Adjusted EPS over 2 fiscal years.
- New RSU form provides time-based vesting; all awards granted under amended plan effective February 1, 2023.
- Bylaws amended to address universal proxy rules (Rule 14a-19): additional stockholder nomination representations, nominee limits, proxy card color requirements.
- Eliminated Section 162(m) qualified-performance-based compensation provisions due to Tax Cuts and Jobs Act changes.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1110803/000111080323000013/0001110803-23-000013-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1110803/000111080323000013/ilmn-20230201.htm
  HTML page:      https://secwatch.observer/filing/0001110803-23-000013

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