---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-24-276415"
form_type: "8-K"
ticker: null
cik: "0001001902"
company_name: "INTEVAC INC"
filed_at: "2024-12-12T23:59:59+00:00"
generated_at: "2026-05-29T03:50:31.036150+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Intevac restructures TRIO, expects $28-35M charges; guides FY25 rev $52-55M, starts $0.05 dividend

## Summary
- Board approved ceasing TRIO development; 7 positions eliminated (~6% workforce); severance $300k.
- Restructuring charges: $20M inventory write-down, $11-12M impairment (facility, intangibles, equipment).
- FY2025 revenue guidance $52-55M; year-end cash expected $70-72M.
- Quarterly dividend of $0.05/share commencing Q1 2025, subject to Board declaration.
- Houlihan Lokey retained for strategic alternatives; Strategic Committee formed with independent directors.

## SEC filing metadata
- accession: 0001193125-24-276415
- form_type: 8-K
- cik: 0001001902
- company_name: INTEVAC INC
- filed_at: 2024-12-12T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.05, 2.06, 5.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1001902/000119312524276415/0001193125-24-276415-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1001902/000119312524276415/d718355d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-24-276415
- JSON: https://secwatch.observer/filing/0001193125-24-276415.json
- Plain text: https://secwatch.observer/filing/0001193125-24-276415.txt

## Key facts
- Restructurings & Charges
  INTEVAC INC announced a impairment with charges of $11 million to $12 million affecting facility lease right of use asset, other intangible assets and certain equipment.
  - Type: impairment
  - Charge: $11 million to $12 million
  - Affected area: facility lease right of use asset, other intangible assets and certain equipment
  source text: Due to the cessation of the product development activities and resulting reduced space requirements, the Company estimates that it will also recognize non-cash impairment charges of $11 million to $12 million related to its facility lease right of use asset, other intangible assets and certain equipment.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1001902/000119312524276415/0001193125-24-276415-index.htm
- Restructurings & Charges
  INTEVAC INC announced a impairment with charges of approximately $20 million affecting TRIO product inventory.
  - Type: impairment
  - Charge: approximately $20 million
  - Affected area: TRIO product inventory
  source text: As a result of the cessation of the development and manufacturing of its TRIO product, the Company estimates that it will recognize a non-cash charge of approximately $20 million related to inventory write downs and a cash charge of up to $1 million, of which $600,000 is purchase order cancellation fees and the remainder is related to severance and other employee-related costs.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1001902/000119312524276415/0001193125-24-276415-index.htm
- Restructurings & Charges
  INTEVAC INC announced a restructuring with charges of approximately $300,000 affecting TRIO product (7 positions, representing approximately 6% of its workforce).
  - Type: restructuring
  - Charge: approximately $300,000
  - Affected area: TRIO product
  - Headcount: 7 positions, representing approximately 6% of its workforce
  source text: action, the Company will eliminate 7 positions, representing approximately 6% of its workforce, and expects to record severance and other employee-related costs of approximately $300,000. Substantially all cash outlays in connection with this workforce reduction are expected to occur in the fourth quarter of fiscal 2024. Item 2.06 Material Impairments. The
  evidence_url: https://www.sec.gov/Archives/edgar/data/1001902/000119312524276415/0001193125-24-276415-index.htm

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