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Published: 2021-08-16 16:02:00 ET
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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): August 13, 2021

 

VEECO INSTRUMENTS INC.

(Exact name of registrant as specified in its charter)

 

Delaware
(State or other jurisdiction
of incorporation)
0-16244
(Commission
File Number)
11-2989601
(IRS Employer
Identification No.)

 

Terminal Drive, Plainview, New York 11803

(Address of principal executive offices)

 

(516) 677-0200

 (Registrant’s 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 (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))

 

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, par value $0.01 per share VECO The NASDAQ Global Select Market

  

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. ¨

 

 

 

 

 

 

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

 

Appointment of New Director

 

On August 13, 2021, Veeco’s Board of Directors voted to increase the size of the Board from eight to nine directors and to appoint Sujeet Chand as a Class I director, to hold office until the 2022 Annual Meeting of Stockholders. The increase in Board size and Dr. Chand’s appointment will both become effective as of August 16, 2021. Dr. Chand, who self-identifies as an Asian American male, was identified through a search process which was commenced earlier this year in connection with the Board’s desire for increased racial or ethnic diversity. The search process was led by the Governance Committee and used the services of an outside search firm.

 

Dr. Chand, age 63, has served as Senior Vice President and Chief Technology Officer of Rockwell Automation since 2005. From 2001 to 2005, Dr. Chand served as Rockwell Automation’s Vice President, Control Systems. Prior to joining Rockwell Automation, Dr. Chand served as Chief Operating Officer for XAP Corporation from 1999 to 2001 and, from 1988 to 1999, Dr. Chand led research & development at Rockwell Scientific Company, a subsidiary of Rockwell International. Dr. Chand holds a Bachelor of Engineering degree from Osmania University and, from the University of Florida, a Masters Degree in Electrical Engineering and a Ph.D. in Electrical and Computer Engineering.

 

Consistent with Veeco’s director compensation policy, Dr. Chand was granted restricted shares of Veeco common stock having a value of $140,000, the restrictions on which will lapse on the earlier to occur of: (i) the date immediately preceding the date of Veeco’s 2022 Annual Meeting of Stockholders and (ii) the first anniversary of the award date.

 

Veeco also entered into its standard form of indemnification agreement with Dr. Chand on substantially the same terms as those entered into with our other directors and executive officers.

 

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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.

 

August 13, 2021 VEECO INSTRUMENTS INC.
   
  By: /s/ Kirk Mackey
  Name: Kirk Mackey
  Title: Vice President, General Counsel

 

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