Applied Materials EVP Salehpour to retire Jan 6, 2023; $655K severance, equity forfeiture

APPLIED MATERIALS INC /DE

Ali Salehpour, SVP Services/Display, will retire effective Jan 6, 2023; will serve as Advisor to CEO through that date.
Separation agreement provides lump-sum cash severance of $655,000 payable on one-year anniversary of separation.
Company will pay additional lump sum equal to ~18 months COBRA premiums for Salehpour and dependents.
Unvested equity awards beyond retirement acceleration provisions will be permanently forfeited.
Salehpour remains eligible for fiscal 2022 bonus with management recommending 1.0 individual multiplier.

item 5.02 item 9.01

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Departed

Ali Salehpour

Senior Vice President, Services, Display and Flexible Technology

AMAT · APPLIED MATERIALS INC /DE

Filed: September 29, 2022, 7:59 PM ET

Ali Salehpour, then Senior Vice President, Services, Display and Flexible Technology of Applied Materials, Inc. (“Applied” or the “Company”), notified Applied of his intent to retire from the Company in January 2023.

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

Ali Salehpour departed as Senior Vice President, Services, Display and Flexible Technology at APPLIED MATERIALS INC /DE.

Action: retire
Role: Senior Vice President, Services, Display and Flexible Technology

Exact text from the filing

Ali Salehpour, then Senior Vice President, Services, Display and Flexible Technology of Applied Materials, Inc. (“Applied” or the “Company”), notified Applied of his intent to retire from the Company in January 2023.

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APPLIED MATERIALS INC /DE filing history →

Source: SEC EDGAR

accession 0001193125-22-254396

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