Current Report Filing (8-k)

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934

Date of Report (Date of Earliest Event Reported): November 21, 2021

WOLFSPEED, INC.

(Exact name of registrant as specified in its charter)


North Carolina	0-21154	56-1572719
(State or other jurisdiction of incorporation)	(Commission File Number)	(I.R.S. Employer Identification Number)


4600 Silicon Drive
Durham	North Carolina	27703
(Address of principal executive offices)		(Zip Code)

(919) 407-5300

Registrant’s telephone number, including area code

N/A

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:


Title of each class	Trading Symbol	Name of each exchange on which registered
Common Stock, $0.00125 par value	WOLF	New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐


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

Effective November 21, 2021, the Compensation Committee (the “Committee”) of the Board of Directors of Wolfspeed, Inc. (the “Company”) approved an increase to the annual base salary of Neill P. Reynolds, Executive Vice President and Chief Financial Officer of the Company, from $475,000 to $600,000 (prorated as applicable for fiscal 2022) and an increase in Mr. Reynolds’ annual target cash incentive award from 80% of base salary to 100% of his base salary. The changes to Mr. Reynolds’ annual base salary and performance-based cash incentive compensation were in recognition of his performance and to further incentivize and retain Mr. Reynolds. In connection with these changes, the Company and Mr. Reynolds entered into an amendment to the previously disclosed Notice of Grant dated August 23, 2021 (as amended, the “Notice of Grant Amendment”) increasing Mr. Reynolds’ target award level to 100% of his base salary for the remainder of the fiscal year. The foregoing description of the Notice of Grant Amendment is subject to and qualified in its entirety by the Notice of Grant Amendment included as Exhibit 10.1 to this report, which is incorporated herein by reference.


Item 9.01			Financial Statements and Exhibits.

(d) Exhibits


			Exhibit No.						Description of Exhibit

			10.1						Notice of Grant, as amended November 21, 2021
			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.