The company said its Board of Directors appointed Jeffrey M. Ettinger as Interim Chief Executive Officer and John F. Ghingo as President on June 23, 2025, with both appointments effective July 14, 2025.

1. 01

   The company said its Board of Directors appointed Jeffrey M. Ettinger as Interim Chief Executive Officer and John F. Ghingo as President on June 23, 2025, with both appointments effective July 14, 2025.

2. 02

   The company said it entered into an employment agreement with Mr. Ettinger on June 20, 2025, providing an annual base salary of $1,200,000, an annual short-term incentive target of $2,000,000, and a one-time equity grant with a grant date fair value of $7,200,000. It said the agreement expires on October 25, 2026.

3. 03

   The company said it set Mr. Ghingo's annual base salary at $730,000 and his annual long-term incentive target at $3,200,000. Upon an involuntary termination without cause or a resignation for good reason, he would receive a $2,000,000 cash lump sum payment. The agreement expires on December 31, 2026.

4. 04

   The company said James P. Snee will retire at the end of fiscal 2025, which ends on October 26, 2025. It said he will step down from the Board on July 14 and transition to a special advisor role. The company also said Mr. Snee and the company are expected to enter into an 18-month consulting agreement on October 27, 2025.

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AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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