secwatch.observer — SEC 8-K summary
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Issuer:     MAGNACHIP SEMICONDUCTOR Corp (MX)
CIK:        0001325702
Form:       8-K
Filed at:   2024-07-31T23:59:59+00:00
Accession:  0001193125-24-189946
Event type: leadership
Sentiment:  neutral
Materiality: 0.55
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Magnachip EVP & GM of Mixed-Signal Solutions resigns; enters consulting agreement
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- Woungmoo Lee resigned as EVP and GM of Mixed-Signal Solutions effective July 31, 2024.
- Severance includes 12 months' base salary paid over 12 months plus prorated 2024 bonus.
- Unvested equity awards treated as termination without Cause per equity plan.
- Entered 11-month consulting agreement with MMS at ~$9,384/month for strategic guidance.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1325702/000119312524189946/0001193125-24-189946-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1325702/000119312524189946/d850962d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-189946

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer