ASYS 8-K
Amtech Systems Inc (ASYS)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
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Indicate by check mark whether the registrant is an emerging growth company 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. ☐
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On May 5, 2026, the Board of Directors of Amtech Systems, Inc. (the “Company”) approved the appointment of Mr. Guy Shechter as the Company’s President and Chief Operating Officer, effective May 19, 2026, reporting to the Chief Executive Officer of the Company.
Mr. Shechter, age 57, previously held leadership positions at Yield Engineering Systems from 2021 to 2026, most recently serving as Senior Vice President & General Manager. Before that, he held various leadership roles at Veeco Instruments from 2007 to 2020, including Vice President & General Manager, Global Services Solutions. Mr. Shechter received an MBA and a B.S. in Mechanical Engineering from Technion – Israel Institute of Technology.
In connection with Mr. Shechter’s appointment, the Company entered into an offer letter with Mr. Shechter, dated March 9, 2026 (the “Offer Letter”). Under the terms of the Offer Letter, Mr. Shechter will receive an annual base salary of $400,000 and will be eligible to participate in the Company’s annual incentive bonus program with a target bonus of 50% of base salary (60% cash, 40% restricted stock). Mr. Shechter will also receive a grant of 50,000 stock options, subject to Board approval, vesting in three equal annual installments on the one year, two year and three-year anniversary dates of the grant date. Mr. Shechter will receive a monthly payment of $10,000 during the first six months of employment and relocation support of up to $25,000. In the event of a Change in Control (as defined in the Offer Letter) in which his responsibilities become materially diminished, Mr. Shechter is entitled to cash severance equal to twelve months of base salary, continued bonus eligibility, and 100% acceleration of unvested equity awards. Upon termination without Cause (as defined in the Offer Letter), Mr. Shechter will be entitled to six months of base salary and six months of COBRA coverage. Mr. Schechter's Offer Letter is an at-will arrangement. The foregoing description of the Offer Letter is qualified in its entirety by reference to the full text of the letter, a copy of which is filed as Exhibit 10.1 hereto and incorporated herein by reference.
There are no arrangements or understandings between Mr. Shechter and any other person pursuant to which Mr. Shechter was appointed President and Chief Operating Officer. Mr. Shechter has no family relationship with any director or other executive officer of the Company, and has no direct or indirect material interest in any transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K.
Item 9.01 Financial Statements and Exhibits.
Exhibit No. |
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Description
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Offer Letter between the Company and Guy Shechter, dated March 9, 2026 |
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104 |
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Cover Page Interactive Data File (embedded within the Inline XBRL document) |
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 thereunto duly authorized.
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AMTECH SYSTEMS, INC. |
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Date: |
May 7, 2026 |
By: |
/s/ Robert C. Daigle |
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Name: Robert C. Daigle |
Exhibit 10.1
March 9, 2026
Guy Shechter 762 Park Place
Brooklyn, NY 11216
Dear Guy,
Amtech Systems, Inc. is pleased to offer you the position of President & Chief Operating Officer, reporting to Bob Daigle, Chief Executive Officer. This letter sets out the terms of your employment with Amtech, which will start on 5/19/26, should you accept this offer.
The following is the compensation and benefits being offered to you:
You will be eligible to participate in Amtech’s annual incentive bonus program at the end of our fiscal year. The EBITDA bonus pool is established when Amtech meets profit performance criteria established by the Amtech Board of Directors (the “Board’), and earned dependent upon Amtech’s level of achievement and your individual performance. Your target bonus will be 50% of base salary (60% cash, 40% restricted stock). In addition, you will receive a grant of 50,000 Stock Options (ISOs & NQs), subject to Board approval and in accordance with Amtech’s 2022 Equity Incentive Plan, as amended, and related option documents. The stock option grant will vest in three equal increments on the 1 year, 2 year and 3-year anniversary dates of the grant date. Additional stock compensation is typically awarded on an annual basis in the first half of the new fiscal year.
You’ll also receive a monthly payment of $10,000 during the first 6 months of employment and relocation support of up to $25,000, including a 40% gross-up of relocation expense reimbursements that are subject to taxation. Itemized receipts will be required for relocation expense reimbursement and all receipts must be submitted on a timely basis and no later than the end of the 2026 fiscal year (September 30, 2026).
In this position, your responsibilities will include, but are not limited to:
Strategic Planning and Execution
Process Improvement
Team Leadership
Performance Monitoring:
Financial Management:
Risk Management:
Collaboration and Communication:
Talent Management and Leadership:
This position is located in Tempe, Arizona at the corporate headquarters office. Your direct reports will include the Vice President & General Manager – SFS, Vice President & General Manager – TPS, and the Global Marketing Director.
This offer is contingent upon successful completion of all hiring process requirements, which include satisfactory documents concerning employment eligibility and the completion of a drug screening and a background investigation that produces results satisfactory to Amtech.
Amtech is an at-will employer, and as such, all offers of employment are at-will. Nothing in this letter creates or implies a contract of employment. The initial terms of your employment with Amtech are solely those expressed in writing in this letter. No previous promises, representations, or understandings related to your offer of employment shall apply.
Employer contributions for employee benefits are discretionary and subject to change.
In the event of a Change in Control (“CIC”) of the Company (as defined in the Amtech Systems, Inc. 2022 Equity Incentive Plan, as amended), and your responsibilities become materially diminished, you will be entitled to the following benefits, subject to your execution of (and continued compliance with) Amtech Systems Proprietary Information and Innovations Non-Compete Agreement, as well as reasonable transition support for the new business leadership:
Termination Without Cause: If your employment is terminated without Cause (as defined in this Agreement), and subject to your execution and non-revocation of a separation and release agreement in a form acceptable to the Company, you will be entitled to the following benefits:
For purposes of this Agreement, the term “Cause” shall mean any one or more of the following: (A) your material breach of this Agreement (continuing for thirty (30) days after receipt of written notice of need to cure, if, in the Company’s determination, such breach is curable); (B) the intentional nonperformance of lawful instructions of the Board (continuing for thirty (30) days after receipt of written notice of need to cure, if, in the Company’s determination, such breach is curable) of any of your material duties and responsibilities; (C) your willful dishonesty, fraud, or misconduct with respect to the business or affairs of the Company; (D) your conviction of, or guilty or nolo contendre plea to a felony crime involving dishonesty or moral turpitude whether or not relating to the Company (not including traffic offenses unless such traffic offense resulted in death); (E) a confirmed positive drug test result for an illegal drug while performing services for the Company; or (F) a material sanction is imposed on you by any applicable professional organization or professional governing body.
Amtech is a company with excellent opportunities for accelerated growth and performance improvement. We extend this offer because we sincerely want you to be a part of our team and are convinced you have much to contribute to our efforts to revitalize the company and create meaningful value.
This offer is valid until Friday, March 20, 2026. Please complete and return a signed copy of this offer letter to me, Angi Larson. By signing below, you verify that there are no restrictions, contractual or otherwise, that might prohibit your employment with Amtech Systems.
We look forward to working with you. Sincerely,
Angi Larson
Angi Larson
Chief Human Resources Officer
I, Guy Shechter, accept this offer and the terms of employment as outlined in this offer letter with an intended start date of Tuesday, May 19, 2026.
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