---
schema_version: "secwatch.filing_event.v1"
accession: "0001140361-25-024672"
form_type: "8-K"
ticker: "PLAB"
cik: "0000810136"
company_name: "PHOTRONICS INC"
filed_at: "2025-07-02T23:59:59+00:00"
generated_at: "2026-05-18T09:50:51.309021+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.35
calibrated_materiality_score: 0.35
confidence: "high"
source: SEC EDGAR
---

# Photronics amends CEO Macricostas employment agreement with $675K salary, 3-year term

## Summary
- CEO George C. Macricostas gets $675,000 base salary under amended employment agreement effective May 28, 2025.
- Term ends May 28, 2028 with automatic two-year renewals; 180-day non-renewal notice required.
- Severance without Cause/for Good Reason: one year salary continuation plus 12 months benefits.
- Change of Control severance: 1.5x (salary + highest annual bonus) plus 18 months benefits in lump sum.
- Non-compete covenant for 18 months after termination.

## SEC filing metadata
- accession: 0001140361-25-024672
- form_type: 8-K
- ticker: PLAB
- cik: 0000810136
- company_name: PHOTRONICS INC
- filed_at: 2025-07-02T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.35
- calibrated_materiality_score: 0.35
- confidence: high
- sec_items: 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/810136/000114036125024672/0001140361-25-024672-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/810136/000114036125024672/ef20051532_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001140361-25-024672
- JSON: https://secwatch.observer/filing/0001140361-25-024672.json
- Plain text: https://secwatch.observer/filing/0001140361-25-024672.txt

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