secwatch.observer — SEC 8-K summary
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Issuer:     INTEVAC INC (—)
CIK:        0001001902
Form:       8-K
Filed at:   2024-11-13T23:59:59+00:00
Accession:  0001193125-24-257200
Event type: earnings
Sentiment:  positive
Materiality: 0.70
Item codes: 1.01, 2.02, 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Intevac reports Q3 revenue $28.5M, beats expectations; appoints activist Palogic's Vardeman to board
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- Q3 revenue $28.5M, net loss $2.2M ($0.08 loss per share), vs year-ago revenue $17.9M, net loss $1.6M ($0.06 loss).
- Operating loss $1.8M (GAAP & non-GAAP); prior-year GAAP loss $1.4M, non-GAAP income $0.5M.
- HDD tech upgrade revenue exceeded $13M; $15M pass-through from inventory transfer to customer.
- Board expanded to 7 seats; Palogic's Vardeman appointed, receives 10,300 options & 12,000 RSUs vesting May 2025.
- Palogic agrees to standstill, ownership cap at 9.5%, voting support for Board nominees.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1001902/000119312524257200/0001193125-24-257200-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1001902/000119312524257200/d890569d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-257200

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