| 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) May 4, 2015
| PHOTRONICS, INC. |
| (Exact name of registrant as specified in
its charter) |
| Connecticut |
|
000-15451 |
|
06-0854886 |
| (State or
other jurisdiction |
|
(Commission |
|
(IRS
Employer |
| of
incorporation) |
|
File
Number) |
|
Identification
Number) |
| 15 Secor Road, Brookfield, CT |
|
06804 |
| (Address of Principal Executive
Offices) |
|
(Zip
Code) |
Registrant’s Telephone
Number, including area
code (203) 775-9000
| |
| (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)) |
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
On May 4, 2015, the Board of Directors of the Company determined it was in the best interest of the Company that
Mr. Constantine Macricostas remain as an employee of the Company instead of becoming a consultant as previously
reported. Mr. Macricostas will be Executive Chairman of the Company and will enter into a four year employment
agreement with the Company. Mr. Macricostas will be compensated $410,000.00 per year and will perform
services on behalf of the Company as the Board of Directors may approve or designate. Mr. Macricostas will have
such duties, authority and responsibilities as may from time to time be assigned by the Board of Directors and he
may work on special projects at the request of the Chief Executive Officer. Mr. Macricostas will be provided with a
company car or car allowance. Mr. Macricostas’ employment agreement also provides for reimbursement of certain
health care expenses and contains certain severance, confidentiality and non-compete provisions.
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.
|
PHOTRONICS, INC. |
|
| |
(Registrant) |
|
| DATE |
May 8,
2015 |
|
BY |
/s/ Richelle E. Burr |
|
|
|
Richelle E. Burr |
|
|
|
Vice
President, General Counsel |