UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form
Current Report
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| Item 5.02 | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
On September 29, 2022 Illumina, Inc. (the “Company”) appointed Scott Ericksen as Vice President and Chief Accounting Officer, effective as of October 16, 2022. In this role, Mr. Ericksen will serve as principal accounting officer for purposes of the Company’s filings with the Securities and Exchange Commission.
Mr. Ericksen, age 50, has served in roles of increasing responsibility with the Company since November 2013, including in his most recent role as International Controller since September 2021 and, prior to that, as EMEA Controller from August 2019 through September 2021, Senior Director, Technical Accounting from September 2018 through August 2019 and Director, Technical Accounting from June 2016 through August 2019. Prior to Illumina, Mr. Ericksen served as Vice President, Director of Corporate Accounting at Science Applications International Corporation, Inc. and as an Audit Manager at Deloitte.
Mr. Ericksen is a certified public accountant and received his bachelor’s degree in accounting from San Diego State University.
In his new role, Mr. Ericksen will receive: (i) an increase in his annual base salary to $350,000 from $272,738, effective October 16, 2022; (ii) an increase in target annual bonus for the second half of 2022 to 50% of base salary from 22% of base salary; and (iii) a grant of a number of restricted stock units equivalent in the value to $600,000 divided by the per share closing Company stock price on the grant date, vesting 100% on January 5, 2025.
In addition to his base salary, Mr. Ericksen received bonus compensation in 2022 related to the first half of fiscal 2022 in the amount of $24,000, and for 2021 in the amount of $86,540. He received an annual equity grant of restricted stock units in March 2022 equivalent in value to $200,000.
There are no arrangements or understandings between Mr. Ericksen and any other persons pursuant to which he was appointed Vice President and Chief Accounting Officer of the Company. There are no family relationships between Mr. Ericksen and any director, executive officer or any person nominated or chosen by the Company to become a director or executive officer. Other than the compensation arrangements discussed above, no information is required to be disclosed with respect to Mr. Ericksen pursuant to Item 404(a) of Regulation S-K.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| ILLUMINA, INC. | ||||||
| Date: September 30, 2022 | By: | /s/ Joydeep Goswami | ||||
| Name: | Joydeep Goswami | |||||
| Title: | Chief Strategy and Corporate Development Officer and Interim Chief Financial Officer | |||||