secwatch.observer — SEC 8-K summary
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Issuer:     MAGNACHIP SEMICONDUCTOR Corp (MX)
CIK:        0001325702
Form:       8-K
Filed at:   2025-04-30T23:59:59+00:00
Accession:  0001193125-25-107531
Event type: leadership
Sentiment:  neutral
Materiality: 0.40
Item codes: 5.02
LLM model:  deepseek-v4-flash:cloud@v2

Magnachip CEO cuts salary 20%, CFO cuts 10% until operating income positive for 2 quarters
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- CEO Young-Joon Kim reduces annual base salary by 20% effective April 1, 2025 until operating income >$0 for two consecutive fiscal quarters.
- CFO Shin Young Park reduces annual base salary by 10% under same condition; salary reverts on change of control or profitability.
- CFO also gets raise to $360k (from $350k) in amended agreement and enhanced severance during change-of-control periods.
- CEO and CFO salary reductions are voluntary; original salary used for bonus and severance calculations.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1325702/000119312525107531/0001193125-25-107531-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1325702/000119312525107531/d926180d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-25-107531

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