Company: MRCY
Filing Date: 2025-01-06
Form Type: 8-K
Source: 0001049521-25-000003
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Company: MERCURY SYSTEMS INC
Filing Date: 2025-01-06
Form: 8-K
Item: Item 5.02
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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 January 6, 2025, the Board of Directors of Mercury Systems, Inc. (the “ Company”) announced the departure of Roger A. Krone from the Board and the appointment of Jean Bua, the Chief Financial Officer of NetScout Systems, a publicly traded network performance and security solutions company, to the Board. Since joining the Company’s Board, Mr. Krone has been appointed as President and Chief Executive Officer of the Boy Scouts of America, and he is planning to focus his time on Boy Scouts and other business matters.

Ms. Bua has been appointed as an independent director in Class II of the Board. The Board has determined that Ms. Bua is independent under the listing standards of The Nasdaq Stock Market. Ms. Bua has been appointed to the Audit Committee and the Government Relations Committee. While Class II Directors serve for a term ending in 2026, per the Company’s Board Policy, Ms. Bua will need to stand for re-election at the next annual meeting of shareholders. With the departure of Mr. Krone and the appointment of Ms. Bua, the size of the Board will remain at nine members, five of which have joined in the last three years.

Effective January 15, 2025, Ms. Bua will be granted a restricted stock award pursuant to the Company’s Compensation Policy for Non-Employee Directors. Pursuant to the policy, new non-employee directors are granted equity awards in connection with their first election to the Board. This award consists of shares of restricted stock with a value equal to $225,000 divided by the average closing price of the Company’s common stock during the 30 calendar days prior to the date of grant. This award vests as to 50% of the covered shares on each of the first two anniversaries of the date of grant. Non-employee directors also receive a cash retainer of $65,000 per year, paid quarterly in arrears.

Ms. Bua 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.