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Dynamic quotes 
OFFON

ONTO INNOVATION INC.

(ONTO)
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ONTO INNOVATION INC. : Change in Directors or Principal Officers (form 8-K)

10/05/2021 | 04:03pm EST

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

(b) Retirement of a Named Executive Officer

On October 1, 2021, Robert A. Koch, the Company's Vice President and General Counsel, notified the Company that he intends to retire sometime in 2022. The Company expects Mr. Koch to continue in his current role until the Company appoints his successor to facilitate an orderly transition of responsibilities. The effective date of Mr. Koch's retirement will be disclosed once finally determined.

(c) Appointment of Chief Operating Officer

The Board of Directors of Onto Innovation Inc. (the "Company") has appointed James Harlow ("Mr. Harlow") as the Company's Chief Operating Officer effective on October 1, 2021 (the "Effective Date"). Mr. Harlow, age 49, has over 20 years of experience in semiconductor operations and has managed operations teams around the world. Mr. Harlow has served for the last eight years in senior operations management roles, at Applied Materials, Inc. (NASDAQ:AMAT), a U.S. semiconductor capital equipment manufacturer ("Applied"). While at Applied, Mr. Harlow served from December 2019 to September 2021 as Managing Director, Applied Global Services - Operations and Supply Chain, from December 2017 to December 2019 as Senior Director, Applied Global Services - Operations and Supply Chain, and from September 2013 to December 2017 as Director Worldwide Operations. Mr. Harlow holds a M.S. degree from Abilene Christian University, an M.B.A. from University of Phoenix, and a B.S. degree from Thomas Edison State College.

Mr. Harlow accepted the Company's offer of employment, effective as of the Effective Date, which provides that Mr. Harlow will be eligible: (a) to receive an annualized base salary of $300,000; (b) under the Company's Tier I Incentive Compensation Plan with a cash bonus target incentive of 60% of his base salary to be pro-rated for 2021; (c) under the Company's Tier I Incentive Compensation Plan to receive an annual equity grant in 2022 with a grant date value of approximately $250,000 with 50% of the grant in the form of time-based restricted stock units and 50% of the grant in the form of market-based performance stock units; (d) to receive a one-time equity grant of time-based restricted stock units with a value of $300,000 at the time of grant (vesting ratably over a three year period on the anniversary date of the grant); (e) to receive a one-time cash signing bonus of $200,000; (f) to receive relocation support with a maximum value of $85,000; and (g) to participate under the Company's benefits plans.

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© Edgar Online, source Glimpses

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Analyst Recommendations on ONTO INNOVATION INC.
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Financials (USD)
Sales 2021 778 M - -
Net income 2021 139 M - -
Net Debt 2021 - - -
P/E ratio 2021 33,6x
Yield 2021 -
Capitalization 4 640 M 4 640 M -
Capi. / Sales 2021 5,97x
Capi. / Sales 2022 5,24x
Nbr of Employees 1 247
Free-Float 98,6%
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Mean consensus BUY
Number of Analysts 5
Last Close Price 94,16 $
Average target price 105,00 $
Spread / Average Target 11,5%
EPS Revisions
Managers and Directors
Michael P. Plisinski Chief Executive Officer & Director
Steven Richard Roth Chief Financial Officer & Senior Vice President
Christopher A. Seams Chairman
James Harlow Chief Operating Officer
Leo Berlinghieri Independent Director
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