Current Report Filing (8-k)
December 15 2020 - 5:20PM
Edgar (US Regulatory)
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0001438423
2020-12-09
2020-12-09
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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): December 9, 2020
Everspin Technologies, Inc.
(Exact name of
registrant as specified in its charter)
Delaware
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001-37900
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26-2640654
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(State or other jurisdiction
of incorporation)
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(Commission
File Number)
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(IRS Employer
Identification No.)
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5670 W. Chandler Blvd.
Suite 100
Chandler, Arizona 85226
(Address of principal
executive offices, including zip code)
(480) 347-1111
(Registrants
telephone number, including area code)
Not Applicable
(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:
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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¨
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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¨
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Securities registered pursuant to Section 12(b)
of the Act:
Title of each class
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Trading Symbol(s)
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Name
of each exchange on which
registered
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Common Stock, par value $0.0001
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MRAM
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The
Nasdaq Stock Market LLC
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Indicate by check mark whether the registrant
is an emerging growth company as defined in Rule 405 of the Securities Act of 1933(§230.405 of this chapter) or Rule 12b-2
of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company x
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.
On December 9, 2020, the Board of Directors
(the “Board”) of Everspin Technologies, Inc. (the “Company”) appointed Darin Billerbeck to serve as Executive
Chairman of the Board, effective immediately. Mr. Billerbeck has served as a member of the Board since August 2018 and as
non-executive Chairman of the Board since March 2019. Additionally, on December 14, 2020, Kevin Conley notified the Board
of his decision to resign as President and Chief Executive Officer of the Company, effective January 30, 2021. In accordance with
the terms of Mr. Conley’s employment agreement with the Company, Mr. Conley will concurrently resign as a member of the
Board, effective January 30, 2021. In connection with Mr. Conley’s resignation, the Board appointed Mr. Billerbeck to serve
as Interim Chief Executive Officer of the Company, effective January 30, 2021.
As of the date of this Current Report on
Form 8-K, no new compensatory arrangements have been entered into with Mr. Billerbeck in connection with his appointment as Executive
Chairman and Interim Chief Executive Officer. Biographical and other information about Mr. Billerbeck is included in the Company’s
definitive proxy statement on Schedule 14A filed with the U.S. Securities and Exchange Commission on April 13, 2020. In connection
with his appointment, Mr. Billerbeck has resigned from the compensation committee and the nominating and corporate governance
committee of the Board.
There are no arrangements or understandings
between Mr. Billerbeck and any other person pursuant to which he was appointed to serve as Executive Chairman or Interim Chief
Executive Officer of the Company. There are also no family relationships between Mr. Billerbeck and any director or executive
officer of the Company, and Mr. Billerbeck does not have a direct or indirect material interest in any “related party”
transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K.
Item 7.01. Regulation FD Disclosure.
On December 15, 2020, the Company
issued a press release announcing the leadership changes discussed above under Item 5.02, as well as updated revenue guidance for
the fourth quarter of 2020. A copy of the press release, which is attached to this Current Report on Form 8-K as Exhibit 99.1,
is hereby furnished pursuant to this Item 7.01. The information disclosed under this Item 7.01, including Exhibit 99.1 hereto,
shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the
“Exchange Act”), or deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or
the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.
Item 9.01. Financial Statements and Exhibits.
SIGNATURES
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.
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Everspin Technologies, Inc.
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Dated: December 15, 2020
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By:
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/s/ Daniel Berenbaum
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Daniel Berenbaum
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Chief Financial Officer
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