{"schema_version":"secwatch.filing_event.v1","accession":"0001140361-25-014404","form_type":"8-K","ticker":"PLAB","cik":"0000810136","company_name":"PHOTRONICS INC","filed_at":"2025-04-17T23:59:59+00:00","discovered_at":"2026-05-14T18:02:51.350881+00:00","generated_at":"2026-05-23T12:42:54.197921+00:00","sec_items":["5.02","9.01"],"event_type":"leadership","sentiment":"neutral","materiality_score":0.6,"calibrated_materiality_score":0.6,"confidence":"high","headline":"Photronics enters employment agreement with Executive Chairman Macricostas through 2028","bullets":["Base salary $500K/year; eligible for discretionary annual bonuses.","Initial term ends Jan 6, 2028; auto-renews for consecutive 2-year periods unless 180-day non-renewal notice.","Termination without cause or for good reason: 1 year salary (installments) + 12 months benefits continuation.","Change of control severance: 1.5x (salary + highest annual bonus) + 18 months benefits, lump sum.","Non-compete in photomask business for 18 months post-employment; no solicitation of executives/consultants."],"urls":{"canonical":"https://secwatch.observer/filing/0001140361-25-014404","json":"https://secwatch.observer/filing/0001140361-25-014404.json","markdown":"https://secwatch.observer/filing/0001140361-25-014404.md","text":"https://secwatch.observer/filing/0001140361-25-014404.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/810136/000114036125014404/0001140361-25-014404-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/810136/000114036125014404/ef20047534_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-23T12:42:54.197921+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}