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UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, DC 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)
October 10, 2024
Lattice Semiconductor Corporation
(Exact name of registrant as specified in its charter)
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Delaware
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000-18032
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93-0835214
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(State or other jurisdiction of incorporation)
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(Commission File Number)
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(IRS Employer Identification No.)
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5555 NE Moore Court
Hillsboro, Oregon 97124
(Address of principal executive offices, including zip code)
(503) 268-8000
(Registrant's telephone number, including area code)
(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):
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☐
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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☐
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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☐
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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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☐
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Securities registered pursuant to Section 12(b) of the Act:
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Title of each class
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Trading Symbol
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Name of each exchange on which registered
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Common Stock, $.01 par value
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LSCC
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NASDAQ Global Select Market
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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.
On October 11, 2024, Lattice Semiconductor Corporation (the “Company”) announced that the Board of Directors of the Company (the “Board”) appointed Tonya Stevens, the Company’s current Corporate Vice President and Corporate Controller, as Interim Chief Financial Officer in addition to her existing position at the Company, effective October 10, 2024. The appointment follows the resignation of Sherri Luther on October 10, 2024, from her position as Chief Financial Officer, effective immediately. Ms. Luther advised the Company that her decision to resign did not involve any disagreement with the Company on any matter, including matters relating to the Company’s operations, policies, or practices.
Ms. Stevens, age 52, joined the Company in May 2019 as its Vice President and Corporate Controller. While at Lattice, Ms. Stevens has led key strategic transformations that helped the company optimize its operations and strengthen its financial foundation. Prior to joining the Company, Ms. Stevens held finance leadership roles at a variety of companies, including Intel Corp. and Price Waterhouse Coopers LLP.
No new compensatory arrangements have been entered into at this time with Ms. Stevens in connection with her assuming the responsibilities as the Company’s Interim Chief Financial Officer. There are no family relationships between Ms. Stevens and any director or executive officer of the Company, and there are no relationships or understandings between Ms. Stevens and any other person pursuant to which she was appointed as the Interim Chief Financial Officer. Ms. Stevens does not have any direct or indirect material interest in any transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K.
Item 7.01. Regulation FD Disclosure.
On October 11, 2024, the Company issued a press release announcing the transition and appointments described in this Current Report on Form 8-K. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K.
The information set forth under this Item 7.01, including Exhibit 99.1 attached hereto, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, regardless of any general incorporation language in such filing, unless expressly incorporated by specific reference in such filing.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
The following exhibits are being furnished herewith:
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.
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LATTICE SEMICONDUCTOR CORPORATION
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By:
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/s/ Tracy Feanny
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Date:
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October 11, 2024
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Tracy Feanny
Senior Vice President and General Counsel
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EXHIBIT INDEX
Exhibit 99.1
NEWS RELEASE
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MEDIA CONTACT:
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INVESTOR CONTACT:
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Sophia Hong
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Rick Muscha
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Lattice Semiconductor Corporation
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Lattice Semiconductor Corporation
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503-268-8786
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408-826-6000
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Sophia.Hong@latticesemi.com
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Rick.Muscha@latticesemi.com
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Lattice Announces CFO Transition
HILLSBORO, Ore. – October 11, 2024 – Lattice Semiconductor Corporation (Nasdaq: LSCC), the low power programmable leader, today announced the resignation of its Chief Financial Officer (CFO), Sherri Luther, effective immediately, to pursue a new opportunity. Lattice Corporate Vice President, Corporate Controller Tonya Stevens was appointed interim CFO, to facilitate a seamless transition while the Board conducts a search to identify a new CFO.
Stevens has more than 30 years of corporate finance experience, including over 5 years at Lattice. While at Lattice, she has led key strategic transformations that helped the company optimize its operations and strengthen its financial foundation. Prior to Lattice, Stevens held finance leadership roles at a variety of companies, including Intel, and PwC. She is a Certified Public Accountant (CPA) and holds a bachelor’s degree in accounting and business management from the University of Oregon.
Ford Tamer, CEO, Lattice Semiconductor, said, “I have tremendous confidence in the Lattice team to drive our next phase of growth by building on our strong customer momentum and seizing untapped opportunities for our differentiated FPGA solutions.” He added that, “We thank Sherri for her contributions to Lattice over the past six years and building a strong team. We look forward to working with Tonya to continue executing our strategic vision for the company.”
“I'm grateful for my time at Lattice and proud of all we've accomplished to create a strong foundation for the company. In the short time I have worked with Ford, I have been extremely impressed with his strategic insight and operational knowledge. I leave with confidence knowing the company is led by a strong team and is positioned to achieve great success over the coming years,” said Sherri Luther.
Along with this announcement, the company is reaffirming the guidance it provided on July 29, 2024, and will report its financial results on Nov. 4, 2024.
Forward-Looking Statements Notice:
Statements in this press release that refer to future plans and expectations are forward-looking statements that involve a number of risks and uncertainties. Words such as “anticipates,” “expects,” “intends,” “goals,” “plans,” “believes,” “seeks,” “estimates,” “continues,” “may,” “will,” “would,” “should,” “could,” and variations of such words and similar expressions are intended to identify such forward-looking statements. Such forward-looking statements include, but are not limited to, statements relating to executing our strategic vision, growth, momentum, and untapped opportunities. A number of important factors could cause actual results to differ materially from our expectations and actual results are subject to risks and uncertainties that relate more broadly to our overall business, including those described in Item 1A in Lattice’s most recent Annual Report on Form 10-K and as may be supplemented from time-to-time in Lattice’s other filings with the Securities and Exchange Commission, all of which are expressly incorporated herein by reference.
About Lattice Semiconductor
Lattice Semiconductor (NASDAQ: LSCC) is the low power programmable leader. We solve customer problems across the network, from the Edge to the Cloud, in the growing Communications, Computing, Industrial, Automotive, and Consumer markets. Our technology, long-standing relationships, and commitment to world-class support let our customers quickly and easily unleash their innovation to create a smart, secure, and connected world.
For more information about Lattice, please visit www.latticesemi.com. You can also follow us via LinkedIn, Twitter, Facebook, YouTube, WeChat, or Weibo.
# # #
Lattice Semiconductor Corporation, Lattice Semiconductor (& design), and specific product designations are either registered trademarks or trademarks of Lattice Semiconductor Corporation or its subsidiaries in the United States and/or other countries. The use of the word “partner” does not imply a legal partnership between Lattice and any other entity.
GENERAL NOTICE: Other product names used in this publication are for identification purposes only and may be trademarks of their respective holders.
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