# EDGAR Filing Document

**Accession Number:** 0001032975
**File Stem:** 0001032975-23-000010
**Filing Date:** 2023-1
**Character Count:** 15086
**Document Hash:** be00fb71f34512e77599f48a40f8e1e4
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001032975-23-000010.hdr.sgml**: 20230130

**ACCESSION NUMBER**: 0001032975-23-000010

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 13

**CONFORMED PERIOD OF REPORT**: 20230130

**ITEM INFORMATION**: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20230130

**DATE AS OF CHANGE**: 20230130

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** LOGITECH INTERNATIONAL S.A.
- **CENTRAL INDEX KEY:** 0001032975
- **STANDARD INDUSTRIAL CLASSIFICATION:** COMPUTER PERIPHERAL EQUIPMENT, NEC [3577]
- **IRS NUMBER:** 000000000
- **FISCAL YEAR END:** 0331

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 000-29174
- **FILM NUMBER:** 23567869

**BUSINESS ADDRESS:**
- **STREET 1:** 7700 GATEWAY BOULEVARD
- **STREET 2:** C/O LOGITECH INC
- **CITY:** NEWARK
- **STATE:** CA
- **ZIP:** 94560
- **BUSINESS PHONE:** 5107958500

**MAIL ADDRESS:**
- **STREET 1:** 7700 GATEWAY BOULEVARD
- **CITY:** NEWARK
- **STATE:** CA
- **ZIP:** 94560

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** LOGITECH INTERNATIONAL SA
- **DATE OF NAME CHANGE:** 19970214

?xml version="1.0" ? logi-20230130

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 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)

**January 30, 2023** 

**LOGITECH INTERNATIONAL S.A.** 

(Exact name of registrant as specified in its charter)

---

| | | | |
|:---|:---|:---|:---|
| **Canton of Vaud,** | **Switzerland** | **0-29174** | **None** |
| (State or other jurisdiction<br>of incorporation) | (State or other jurisdiction<br>of incorporation) | (Commission File Number) | (IRS Employer<br>Identification No.) |

---

---

| | | |
|:---|:---|:---|
| **Logitech International S.A.** | **Logitech International S.A.** | **Logitech International S.A.** |
| **EPFL - Quartier de l'Innovation** | **EPFL - Quartier de l'Innovation** | **EPFL - Quartier de l'Innovation** |
| **Daniel Borel Innovation Center** | **Daniel Borel Innovation Center** | **Daniel Borel Innovation Center** |
| **1015 Lausanne, Switzerland**  | **1015 Lausanne, Switzerland**  | **1015 Lausanne, Switzerland**  |
| **c/o Logitech Inc.** | **c/o Logitech Inc.** | **c/o Logitech Inc.** |
| **7700 Gateway Boulevard** | **7700 Gateway Boulevard** | **7700 Gateway Boulevard** |
| **Newark** | **California** | **94560** |
| (Address of principal executive offices and zip code) | (Address of principal executive offices and zip code) | (Address of principal executive offices and zip code) |

---

---

| | |
|:---|:---|
| **510** | **795-8500** |
| (Registrant's telephone number, including area code) | (Registrant's telephone number, including area code) |

---

Not Applicable <br> (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):

☐ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ &nbsp;&nbsp;&nbsp;&nbsp; Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 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 | Trading Symbol(s) | Name of each exchange on which registered |
| Registered Shares | LOGN | SIX Swiss Exchange |
| Registered Shares | LOGI | Nasdaq Global Select Market |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in 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. □

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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.**

**<u>(c) Appointment of Chief Financial Officer</u>**

On January 30, 2023, Logitech International S.A. (the "Company" or "Logitech") announced that Charles Boynton will be joining the Company as the Chief Financial Officer of Logitech, effective on February 6, 2023.

Mr. Boynton, age 54, prior to joining Logitech, served as the Executive Vice President, Chief Financial Officer of Plantronics, Inc. (dba Poly), a technology company specializing in video and video solutions as well as team collaboration, from March 2019 to October 2022. Prior to joining Poly, Mr. Boynton served as Executive Vice President and Chief Financial Officer of SunPower Corporation, a global energy company and provider of solar power solutions, from March 2012 to May 2018, and continued as an Executive Vice President until July 2018. Mr. Boynton also served as the Chairman and Chief Executive Officer of 8point3 General Partner LLC, the general partner of 8point3 Energy Partners LP, an affiliate of SunPower, from March 2015 to June 2018. He also served as SunPower's Principal Accounting Officer from October 2016 to March 2018. In March 2012, Mr. Boynton served as SunPower's Acting Chief Financial Officer and from June 2010 to March 2012 he served as SunPower's Vice President, Finance and Corporate Development, where he drove strategic investments, joint ventures, mergers and acquisitions, field finance and financial planning and analysis. Before joining SunPower in June 2010, Mr. Boynton was the Chief Financial Officer for ServiceSource, LLC from April 2008 to June 2010. Earlier in his career, Mr. Boynton held key financial positions at Intelliden, Commerce One, Inc., Kraft Foods, Inc., and Grant Thornton, LLP. Mr. Boynton earned his master's degree in business administration at the Kellogg School of Management at Northwestern University and holds a Bachelor of Science degree in Accounting from the Kelley School of Business at Indiana University Bloomington.

The material compensatory terms of Mr. Boynton's employment are set forth in an offer letter dated as of January 30, 2023. The following summary of the offer letter does not purport to be complete and is subject to and qualified in its entirety by the offer letter to be filed with the Company's Annual Report on Form 10-K for the fiscal year ending March 31, 2023.

*Salary*

Mr. Boynton's annual base salary will be $600,000.

Mr. Boynton will be eligible to participate in Logitech's Leadership Team Bonus Program (the "Bonus Program"), targeted at 90% of his base salary for a potential total target cash compensation of $1,140,000. For fiscal year 2023 (April 2022 – March 2023), Mr. Boynton's payout under the Bonus Program will be prorated based upon his start date, provided he is an active employee of Logitech on the last day of the bonus performance period.

*Equity Award*

Mr. Boynton will also be eligible to participate in Logitech's annual equity program. Grants in this annual equity program are subject to market conditions, Company performance and Compensation Committee approval and granted in the form of Performance Share Units ("PSUs"). The annual equity grants for a three-year performance period are approved in the March Board meeting and granted on April 15 each year. For April 15, 2023, the Company will propose a PSU grant of $2,750,000 subject to the terms and conditions of the applicable plan, including vesting requirements, in particular vesting following a three-year performance period, as approved by the Compensation Committee.

*Benefits* 

Mr. Boynton will be entitled to participate in the compensation and benefit programs generally available to Logitech's executive officers in the United States.

Mr. Boynton's employment with the Company is for no specified period and constitutes at-will employment. As a result, Mr. Boynton may resign at any time, for any reason or for no reason. Similarly, the Company may conclude its employment relationship with Mr. Boynton at any time, with or without cause, and with or without notice.

The Company expects to enter into its standard form of indemnification agreement with Mr. Boynton.

------

Mr. Boynton has no other direct or indirect material interest in any transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K promulgated under the Securities Exchange Act of 1934, as amended, nor are any such transactions currently proposed. There are no arrangements or understandings between Mr. Boynton and any other persons pursuant to which Mr. Boynton was appointed as Chief Financial Officer, and there are no family relationships between Mr. Boynton and any director or executive officer of the Company.

A copy of the related news release issued by the Company on January 30, 2023 is attached hereto as Exhibit 99.1.

**<u>(b) Departure of Chief Financial Officer</u>**

In connection with the above, Mr. Olmstead resigned from his position as the CFO of the Company and as a member of Logitech's Group Management Team, effective as of February 6, 2023 or such other date that corresponds to his successor's first day of employment, contingent upon acceptance by the Company. Mr. Olmstead intends to remain with Logitech through the transition period for the onboarding of the new Chief Financial Officer. Mr. Olmstead's departure is not due to any disagreement with Logitech's operations, policies or practices.

**Item 9.01. Financial Statements and Exhibits.**

**<u>d) Exhibits.</u>**

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| | |
|:---|:---|
| <u>Exhibit</u> | <u>Description</u> |
| <u>[99.1](exhibit991january302023.htm)</u> | News release of Logitech International S.A. dated January 30, 2023. |
| 104 | Cover Page Interactive Data File (Cover page XBRL tags are embedded within the Inline XBRL document) |

---

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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.

---

| | | |
|:---|:---|:---|
| | By: | **Logitech International S.A.**<br>/s/ Bracken Darrell |
| | By: | Bracken Darrell<br>President and Chief Executive Officer<br>/s/ Prakash Arunkundrum |
| | | Prakash Arunkundrum |
| | | Chief Operating Officer |
| Date: 1/30/2023 |  |  |

---

## Exhibit 99.1

**Exhibit 99.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;** 

**Editorial Contacts:**

Nate Melihercik, Head of Global Investor Relations - ir@logitech.com

Nicole Kenyon, Head of Global Corporate & Employee Communications - USA (510) 988-8553

Ben Starkie, Corporate Communications - Europe +41 (0) 79-292-3499

**Charles Boynton To Join Logitech as Chief Financial Officer**

*Prakash Arunkundrum Named Chief Operating Officer* 

**LAUSANNE, Switzerland and NEWARK, Calif., January 30, 2023 —** Logitech International (SIX: LOGN) (Nasdaq: LOGI) today announced that Charles 'Chuck' Boynton will be joining the company as chief financial officer (CFO) of Logitech, effective on February 6, 2023. In addition, Prakash Arunkundrum has been named chief operating officer (COO).

"I am excited to welcome Chuck to Logitech. As a proven global CFO, with established experience in consumer and B2B collaboration technology, he will be a great addition to help drive our long-term growth strategy," said Bracken Darrell, Logitech president and chief executive officer. "I also want to thank Nate for his leadership through an incredible period of Logitech's history."

As CFO and member of Logitech's Group Management Team, Boynton will be responsible for the company's financial strategies and worldwide finance organization. He will manage a multi-billion US dollar P&L, as well as tax, treasury, accounting, financial planning and analysis functions. Additionally, he will drive communication with an international base of shareholders trading Logitech shares on the SIX Swiss Exchange and the Nasdaq Global Select Market.

Boynton's experience spans both consumer and B2B technology, specifically video collaboration. He spent more than three years at Plantronics as CFO and more than eight years in executive or CFO roles in the renewable energy sector at SunPower Corporation.

In connection with the above, Nate Olmstead has resigned from his position as Logitech's CFO and member of Logitech's Group Management Team effective on February 6, 2023 corresponding to Boynton's first day of employment. Olmstead currently intends to remain with Logitech through a transition period.

**Chief Operating Officer**

Prakash Arunkundrum, formerly Logitech head of operations and sustainability and part of the Group Management Team, was named Logitech's COO on January 23, 2023. He remains a part of the Group Management Team. In this new expanded role, Arunkundrum will focus on the operational and organizational effectiveness of the company. His areas of responsibility span Logitech´s Operations, Sustainability, Strategy and M&A. Arunkundrum joined Logitech in 2015.

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**About Logitech**

Logitech helps all people pursue their passions and is committed to doing so in a way that is good for people and the planet. We design hardware and software solutions that help businesses thrive and bring people together when working, creating, gaming and streaming. Brands of Logitech include Logitech, Logitech G, ASTRO Gaming, Streamlabs, Blue Microphones and Ultimate Ears.

Founded in 1981, and headquartered in Lausanne, Switzerland, Logitech International is a Swiss public company listed on the SIX Swiss Exchange (LOGN) and on the Nasdaq Global Select Market (LOGI). Find Logitech at www.logitech.com, the company blog or @logitech.

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Logitech and other Logitech marks are trademarks or registered trademarks of Logitech Europe S.A. and/or its affiliates in the U.S. and other countries. All other trademarks are the property of their respective owners. For more information about Logitech and its products, visit the company's website at www.logitech.com.

(LOGIIR)

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