Sullivan James, the Senior Vice President of Finance and Chief Financial Officer at QuickLogic Corp, has received a grant of 51,502 restricted stock units (RSUs) as part of his compensation package. This significant award, reported in a recent SEC filing, underscores the company's strategy to align executive performance with shareholder interests.
The filing, dated October 6, 2026, reveals that the RSUs were granted as an inducement award outside of QuickLogic's 2019 Stock Plan. The grant will vest over a three-year period, with one-third of the units vesting on the one-year anniversary of the grant date and the remaining units vesting in increments every six months thereafter, contingent on Sullivan's continued employment with the company.
Background
QuickLogic Corp, identified by the Central Index Key (CIK) 0000882508, operates within the semiconductor industry, specifically under the SIC classification of Semiconductors & Related Devices. The company is headquartered in San Jose, California, and is publicly traded under the ticker symbol QUIK. This recent filing is part of a series of disclosures made by the company, with the latest filings including various forms related to executive compensation.
What the Filing Says
The SEC filing states, "Each RSU represents a contingent right to receive one share of the Issuer's common stock." This aligns with common practices in the industry, where RSUs are used to incentivize executives and align their interests with those of shareholders.
Impact
This award may affect QuickLogic's executive team and shareholders, as it serves to motivate key personnel to drive company performance. By offering RSUs, QuickLogic aims to retain top talent and encourage long-term commitment, which is crucial in the competitive semiconductor market.
What's Next
The filing does not say what happens next.