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): March 3, 2021  

____________________________________________________

KULICKE AND SOFFA INDUSTRIES, INC.

(Exact name of registrant as specified in its charter) 

 ____________________________________________________ 

Pennsylvania	000-00121	23-1498399
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(I.R.S. Employer Identification No.)

 23A Serangoon North Avenue 5, #01-01, K&S Corporate Headquarters, Singapore 554369

(Address of Principal Executive Offices and Zip Code)

Registrant’s telephone number, including area code: (215) 784-6000  

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 (see General Instruction A.2. below):

 

☐	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))

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 ☐

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. ☐

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

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, Without Par Value	KLIC	The Nasdaq Global Market

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

On March 3, 2021, the Board of Directors (the “Board”) of Kulicke and Soffa Industries, Inc. (the “Company”) elected Jon A. Olson to the Board, effective March 4, 2021. Mr. Olson was also appointed to serve on the Audit Committee of the Board.

In connection with his appointment as a director, Mr. Olson will receive compensation in accordance with policies and procedures previously approved by the Board for non-employee directors of the Company as more fully described under the heading “Director Compensation for Fiscal 2020” in the Company’s Proxy Statement on Schedule 14A relating to the 2021 Annual Meeting of Stockholders, filed with the Securities and Exchange Commission on January 13, 2021.

There are no transactions in which Mr. Olson had or will have a direct or indirect material interest that would require disclosure under Item 404(a) of Regulation S-K, and there are no arrangements or understandings between Mr. Olson and any other persons pursuant to which he was selected as a director.

A copy of the Company’s press release announcing Mr. Olson’s election is attached hereto as Exhibit 99.1.

Item 9.01	Financial Statements and Exhibits.
(d)	Exhibits.
Exhibit No.	Description
99.1	Press Release dated March 5, 2021
104	Inline XBRL for the cover page of this Current Report on Form 8-K

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.

	KULICKE AND SOFFA INDUSTRIES, INC.
Date: March 5, 2021	By:	/s/ LESTER WONG
	Name:	Lester Wong
	Title:	Senior Vice President and Chief Financial Officer

EXHIBIT INDEX

Exhibit No.	Description
99.1	Press Release dated March 5, 2021
104	Inline XBRL for the cover page of this Current Report on Form 8-K

EX-99.1

Exhibit 99.1

	K&S Corporate Headquarters Kulicke & Soffa Pte Ltd 23A Serangoon North Ave 5 #01-01, Singapore 554369
	+65-6880-9600 main +65-6880-9580 fax www.kns.com Co. Regn. No. 199902120H

Kulicke & Soffa Appoints Jon Olson to its Board of Directors

SINGAPORE - March 5, 2021 - Kulicke and Soffa Industries, Inc. (NASDAQ: KLIC) (NASDAQ: KLIC) ("Kulicke & Soffa," "K&S" or the "Company") today announced the appointment of Jon A. Olson to its Board of Directors.

Mr. Olson, a seasoned executive with over 40 years of semiconductor industry experience, has provided strategic insight and financial decision making at Intel Corporation (NASDAQ:INTC) and later at Xilinx, Inc. (NASDAQ:XLNX). He currently serves as Director on the Board of Xilinx, Inc. and previously Director and Audit Committee Chair of Mellanox Technologies, InvenSense, Inc. and Home Union, Inc.

Mr. Olson has a robust track record of strategic leadership supporting capital allocation, M&A, profitability improvement initiatives and technology partnerships. He most recently served as Chief Financial Officer of Xilinx, Inc., where his responsibilities covered finance, IT, purchasing and facilities from 2005 through his retirement in 2016. Prior to joining Xilinx, Mr. Olson spent over 25 years at Intel Corporation where, as Director of Finance, he was responsible for the finance function of all business units, factories and administrative support company-wide.

Peter Kong, Chairman of the K&S Board of Directors, stated, “We welcome Jon to the K&S Board. His industry experience, financial leadership and strategic accomplishments are significant. We look forward to his contributions as the Company continues to execute on several exciting opportunities.”

“K&S is currently in a unique position and has many paths to extend value creation,” said Jon Olson. “I am excited to provide guidance on the Company’s near- and long-term initiatives to maximize this potential.”

Mr. Olson serves as a Member of the Deans Advisory Council and was also inducted to the Academy of Alumni Fellows of the Kelley School of Business, Indiana University. In 2010, he was recognized as CFO of the Year by Silicon Valley Business Journal. Mr. Olson earned his Bachelor of Science in Accounting from Indiana University and his MBA from Santa Clara University.

About Kulicke & Soffa

Kulicke & Soffa (NASDAQ: KLIC) is a leading provider of semiconductor, LED and electronic assembly solutions serving the global automotive, consumer, communications, computing and industrial markets. Founded in 1951, K&S prides itself on establishing foundations for technological advancement - creating pioneering interconnect solutions that enable performance improvements, power efficiency, form-factor reductions and assembly excellence of current and next-generation semiconductor devices.

Leveraging decades of development proficiency and extensive process technology expertise, Kulicke & Soffa’s expanding portfolio provides equipment solutions, aftermarket products and services supporting a comprehensive set of interconnect technologies including wire bonding, advanced packaging, lithography, and electronics assembly. Dedicated to empowering technological discovery, always, K&S collaborates with customers and technology partners to push the boundaries of possibility, enabling a smarter future.

Contacts:

1

Kulicke & Soffa

Marilyn Sim

Public Relations

P: +65-6880-9309

F: +65-6880-9580

msim@kns.com

Kulicke & Soffa

Joseph Elgindy

Finance

P: +1-215-784-7500

F: +1-215-784-6180

investor@kns.com

2

XML

Document and Entity Information	Mar. 03, 2021
Cover [Abstract]
Document Type	8-K
Document Period End Date	Mar. 03, 2021
Entity Registrant Name	KULICKE & SOFFA INDUSTRIES INC
Entity Central Index Key	0000056978
Amendment Flag	false
Entity Incorporation, State or Country Code	PA
Entity File Number	000-00121
Entity Tax Identification Number	23-1498399
Entity Address, Address Line One	23A Serangoon North Avenue 5
Entity Address, Address Line Two	#01-01
Entity Address, Address Line Three	K&S Corporate Headquarters
Entity Address, Country	SG
Entity Address, Postal Zip Code	554369
City Area Code	215
Local Phone Number	784-6000
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Entity Emerging Growth Company	false
Title of 12(b) Security	Common Stock, Without Par Value
Trading Symbol	KLIC
Security Exchange Name	NASDAQ
Entity Address, City or Town	Singapore