secwatch.observer — SEC 8-K summary
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Issuer:     RICHARDSON ELECTRONICS, LTD. (RELL)
CIK:        0000355948
Form:       8-K
Filed at:   2022-10-27T23:59:59+00:00
Accession:  0001564590-22-035487
Event type: other_material
Sentiment:  neutral
Materiality: 0.50
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

CEO Edward Richardson's incentive plan amended to pay 2% of net income minus management plan payout
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- Amendment approved Oct 24, 2022: CEO's annual award equals 2% of net income minus any payout under the Management Incentive Compensation Plan.
- Mr. Richardson now directly participates in the Management Incentive Compensation Plan; Plan award is the excess.
- Committee retains discretion to reduce awards under the Plan.
- Effective immediately; replaces prior 'greater of' formula.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/355948/000156459022035487/0001564590-22-035487-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/355948/000156459022035487/rell-8k_20221024.htm
  HTML page:      https://secwatch.observer/filing/0001564590-22-035487

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