---
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"
generated_at: "2026-05-23T12:42:54.197921+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Photronics enters employment agreement with Executive Chairman Macricostas through 2028

## Summary
- 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.

## SEC filing metadata
- 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
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 5.02, 9.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001140361-25-014404
- JSON: https://secwatch.observer/filing/0001140361-25-014404.json
- Plain text: https://secwatch.observer/filing/0001140361-25-014404.txt

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