Cognex Corporation filed SEC Form 8-K: Leadership Update
$CGNX
Industrial Machinery/Components
Industrials
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
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CURRENT REPORT
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| Item 5.02 | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers | ||||
On March 13, 2024, the Board of Directors of Cognex Corporation (the "Company") designated Laura MacDonald, Vice President of Finance, as the Company's principal financial officer and principal accounting officer on an interim basis, effective March 15, 2024. Ms. MacDonald will be assuming such roles from Paul Todgham, Senior Vice President of Finance and Chief Financial Officer of the Company. On January 3, 2024, the Company announced Mr. Todgham's resignation, effective March 15, 2024, and the Company's search for a new Chief Financial Officer. In connection with assuming these interim roles, Ms. MacDonald will receive an equity award under the Company's 2023 Stock Option and Incentive Plan of restricted stock units ("RSUs") having an economic value of approximately $50,000 on the date of grant. These RSUs will vest over three years, assuming Ms. MacDonald remains employed by the Company through such vesting dates, as follows: 20% on the first anniversary of the grant date; 30% on the second anniversary of the grant date; and 50% on the third anniversary of the grant date. Ms. MacDonald, age 55, has served as the Company's Vice President of Finance since December 2007, and prior to that time, worked in a series of roles with increasing responsibility in the Finance Department after joining the Company in 1994. Beginning in May 2019, Ms. MacDonald served as the Company's "principal financial officer" and "principal accounting officer" prior to Mr. Todgham joining the Company in March 2020.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| COGNEX CORPORATION | |||||||||||
Dated: March 15, 2024 | By: | /s/ Robert J. Willett | |||||||||
Name: | Robert J. Willett | ||||||||||
Title: | President and Chief Executive Officer | ||||||||||