Axcelis Technologies, Inc. (ACLS) filed on Thursday, August 15 8-K

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Axcelis Technologies, Inc. (ACLS) revealed 8-K form on Thu, Aug 15.

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

(d)           Election of Director. On August 14, 2019, pursuant to Section 6.1 of Article Third of the Restated Certificate of Incorporation of Axcelis Technologies, Inc. (the “Company”) and Section 2.2 of the Bylaws of the Company, the Board of Directors of the Company expanded the number of members of the Board of Directors to nine.  Immediately thereafter, pursuant to Section 6.3 of Article Third of the Restated Certificate of Incorporation of the Company and Section 2.4 of the Bylaws of the Company, the Board of Directors elected Jorge Titinger to fill the vacancy on the Board for a term ending at the 2020 Annual Meeting of Stockholders. The Company’s press release regarding Mr. Titinger’s election is attached as Exhibit 99.1 to this Current Report on Form 8-K.

Information about Mr. Titinger’s committee assignments is incorporated by reference from Item 8.01 below.  Mr. Titinger will participate in the Company’s non-employee director compensation arrangements, a description of which appears under the heading “Director Compensation” in the proxy statement for the Company’s 2019 annual meeting of stockholders and is incorporated herein by reference.  On August 15, 2019, upon recommendation of the Nominating and Governance Committee and the Compensation Committee, the full Board of Directors approved the grant to Mr. Titinger of two restricted stock unit awards.  One of the RSU awards, a new director grant, is for 8,459 units and will vest as to 25% of the units on each of the first four anniversaries of the date of grant, assuming continuation of service.  The second RSU award is a pro-rated 2019 annual director grant, for 6,344 units and will vest on February 15, 2020, assuming continuation of service on the Board.

In addition, Mr. Titinger has executed an indemnification agreement in the form executed by all non-employee directors, as described under the heading “Director Compensation” in the proxy statement for the Company’s 2019 annual meeting of stockholders.

·                  appointed  Joseph P. Keithley, John T. Kurtzweil,  R. John Fletcher and Jorge Titinger to serve as the Audit Committee of the Board of Directors, with Mr. Kurtzweil designated as Chairman thereof.

Such election and appointments are to serve until the next annual meeting of the Board of Directors and until such director’s successor has been elected and qualified, or until such director’s earlier death, resignation or removal.

Exhibit No. Description 99.1 Press Release dated August 15, 2019. Filed herewith.

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.

The stock decreased 0.60% or $0.09 during the last trading session, reaching $14.91. About 133,085 shares traded. Axcelis Technologies, Inc. (NASDAQ:ACLS) has declined 25.00% since August 16, 2018 and is downtrending. It has underperformed by 25.00% the S&P500.

Axcelis Technologies, Inc. designs, makes, and services ion implantation and other processing equipment used in the fabrication of semiconductor chips worldwide. The company has market cap of $482.07 million. The firm offers a line of high energy, high current, and medium current implanters for various application requirements. It has a 21.33 P/E ratio. It also provides curing systems and thermal processing systems.

More notable recent Axcelis Technologies, Inc. (NASDAQ:ACLS) news were published by: Finance.Yahoo.com which released: “Could The Axcelis Technologies, Inc. (NASDAQ:ACLS) Ownership Structure Tell Us Something Useful? – Yahoo Finance” on August 09, 2019, also Finance.Yahoo.com with their article: “What Can We Learn From Axcelis Technologies, Inc.’s (NASDAQ:ACLS) Investment Returns? – Yahoo Finance” published on July 22, 2019, Nasdaq.com published: “Axcelis Technologies (ACLS) Tops Q2 Earnings Estimates – Nasdaq” on August 06, 2019. More interesting news about Axcelis Technologies, Inc. (NASDAQ:ACLS) were released by: Prnewswire.com and their article: “Axcelis Appoints Jorge Titinger To Its Board Of Directors – PRNewswire” published on August 15, 2019 as well as Nasdaq.com‘s news article titled: “Analysts Estimate Axcelis Technologies (ACLS) to Report a Decline in Earnings: What to Look Out for – Nasdaq” with publication date: July 30, 2019.

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