UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
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 May 12, 2025, the Board of Directors (the “Board”) of Symbotic Inc. (the “Company”) approved an increase in the size of the Board from seven to eight members, effective May 14, 2025, and appointed Eric Branderiz to the Board, effective May 14, 2025.
Mr. Branderiz, 60, served as the executive vice president and chief financial officer of Enphase Energy, Inc., a renewal energy technology company, from June 2018 to February 2022 and continued serving as an advisor until June 2022. He currently serves on the boards of directors of Cognizant Technology Solutions Corporation and Fortive Corporation and has served in both roles since 2023. Prior to joining Enphase, Mr. Branderiz served as the chief accounting officer and corporate controller of Tesla, Inc., an automotive and renewal energy company, from October 2016 to March 2018, and in various senior roles, including as the senior vice president, corporate controller and chief accounting officer, at SunPower Corporation, a solar energy system design and manufacturing company, from 2010 to 2016. Prior to joining SunPower Corporation, Mr. Branderiz served in various senior roles with Knowledge Learning Corporation, Spansion, Inc., and Advanced Micro Devices, Inc. He is a Certified Public Accountant in California and received his bachelor’s degree in Business Commerce with an emphasis on Accounting from the University of Alberta, Canada.
Mr. Branderiz will be compensated for his service as a director pursuant to the Company’s non-employee director compensation program that entitles our non-employee directors to a cash retainer for service on the Board and for service on each committee on which the director is a member. A description of the Company’s non-employee director compensation arrangements can be found in the section titled “Director Compensation” in the Company’s definitive proxy statement for its 2025 annual meeting of stockholders filed with the Securities and Exchange Commission (“SEC”) on January 17, 2025 and incorporated herein by reference. Mr. Branderiz has also entered into an indemnification agreement with the Company, the form of which is attached as Exhibit 10.4 to the Company’s Current Report on Form 8-K filed with the SEC on June 13, 2022 and is incorporated by reference herein.
A copy of the press release issued by the Company on May 15, 2025 announcing the appointment of Mr. Branderiz is attached hereto as Exhibit 99.1
| Item 9.01. | Financial Statements and Exhibits. |
(d) Exhibits.
| Exhibit No. |
Description of Exhibit | |
| 99.1 | Symbotic Inc. Press Release, dated May 15, 2025 | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) | |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: May 15, 2025
| Symbotic Inc. | ||
| By: | /s/ Carol Hibbard | |
| Name: | Carol Hibbard | |
| Title: | Chief Financial Officer and Treasurer | |