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 2, 2017
(Exact Name of Registrant as Specified in its Charter)
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Delaware |
1-7201 |
33‑0379007 |
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(State or other jurisdiction of incorporation or organization) |
(Commission File Number) |
(I.R.S. Employer Identification Number) |
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1 AVX Boulevard |
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Fountain Inn, South Carolina |
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29644 |
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(Address of principal executive offices) |
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(Zip Code) |
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(864) 967-2150 |
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(Registrant's telephone number, including area code) |
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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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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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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. ☐
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Management Incentive Plan
On August 2, 2017, the Board of Directors of AVX Corporation (the “Company”) approved an update to the Company’s Management Incentive Plan (“MIP”). The revised MIP is effective April 1, 2017. The purpose of the MIP is to promote the interests of the Company and its subsidiaries by providing selected officers (7 participants as of August 2, 2017) incentives to continue and to increase their efforts with respect to, and remain in the employ of, the Company or its Subsidiaries.
The bonus arrangements under the revised MIP are materially consistent with arrangements previously available to the Company’s executive officers as described in the Company’s Definitive Proxy Statement on Schedule 14A filed with the Securities and Exchange Commission on June 14, 2017. The approved plan document will be filed as an exhibit to the Company’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2017.
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.
Date: August 3, 2017
AVX CORPORATION
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By: |
/s/ Kurt P. Cummings |
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Name: |
Kurt P. Cummings |
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Title: |
Executive Vice President, |
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Chief Financial Officer |
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and Treasurer |