KLIC 8-K
Kulicke & Soffa Industries Inc (KLIC)
8-K
2025-10-28
For: 2025-10-28
View Original
Added on
April 09, 2026
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): October 28, 2025
____________________________________________________
KULICKE AND SOFFA INDUSTRIES, INC.
(Exact name of registrant as specified in its charter)
____________________________________________________
| (State or Other Jurisdiction of Incorporation) | (Commission File Number) | (I.R.S. Employer Identification No.) | ||||||||||||
(Address of Principal Executive Offices and Zip Code)
Registrant’s telephone number, including area code: (215 ) 784-6000
N/A
(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. below):
| Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |||||
| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | |||||
| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | |||||
| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) | |||||
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||||||
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 Principal Officers.
On October 28, 2025, Kulicke and Soffa Industries, Inc. (the "Company") announced that due to health reasons, Dr. Fusen Chen has informed the Company’s Board of Directors (the “Board”) that he will retire as President and Chief Executive Officer of the Company and as a member of the Board, effective December 1, 2025 (the “Effective Date”).
Also, on October 28, 2025, the Board appointed Lester Wong, the Company’s current Executive Vice President and Chief Financial Officer, as the Company’s Interim Chief Executive Officer (“Interim CEO”). The Board will conduct a search for a permanent successor among external and internal candidates.
As Dr. Chen transitions from his role and in leading up to his retirement as of the Effective Date, Dr. Chen will support Lester Wong in ensuring a smooth transition and handover. Following the Effective Date, Dr. Chen will serve as an advisor to the Board for a 12-month period from the Effective Date (the “Term”). As payment for his advisory services, Dr. Chen will receive a fee of US$75,000 per month during the Term. If Dr. Chen is terminated by the Company before the end of the Term, other than “for cause”, Dr. Chen will be entitled to continue to receive these monthly payments as if he had remained continuously engaged as an advisor to the Board throughout the Term.
Pursuant to the terms of the Company’s Incentive Compensation Plan, Dr. Chen will receive a pro-rated, annual cash bonus (based on his target opportunity at the Effective Date) for the fiscal year in which he retired. Outstanding performance share unit awards granted by the Company, which are valid and effective as of the Effective Date, shall remain eligible for vesting, and other unvested restricted stock unit awards shall be automatically forfeited as of the Effective Date. The Company will provide Dr. Chen with health insurance coverage for a period of 18 months from the Effective Date.
Mr. Wong, 59, has been the Company’s Chief Financial Officer since December 2018, and was promoted to Executive Vice President, from Senior Vice President, on January 1, 2022. Mr. Wong will also continue to serve in his current role as the Company's Executive Vice President and Chief Financial Officer.
In connection with Mr. Wong’s appointment as Interim CEO, the Board approved a monthly cash stipend of S$35,000, to be paid for each month of Mr. Wong’s service as Interim CEO through the date on which a new Chief Executive Officer is appointed by the Board. Where applicable, Mr. Wong will be paid pro-rated for any month of partial service based on the number of days in such month in which Mr. Wong serves as the Interim CEO.
Additionally, Mr. Wong will be granted S$600,000 in restricted stock units on the Effective Date (the “Grant Date”), which shall vest in full on the 1-year anniversary of the Grant Date, subject to his continued employment with the Company through such date. If Mr. Wong is terminated by the Company without Cause or if Mr. Wong resigns with Good Reason (as each term is defined in the Company’s Executive Severance Pay Plan), such restricted stock units shall vest in full upon such termination date.
Mr. Wong has no family relationships or related party transactions with the Company that would require disclosure under Items 401(d) and 404(a) of Regulation S-K in connection with his appointment as Interim Chief Executive Officer.
Item 7.01 Regulation FD Disclosure
On October 28, 2025, the Company issued a press release announcing the events described in Item 5.02 above. A copy of the press release is attached as Exhibit 99.1 to this Current Report on Form 8-K.
The information contained in this Item 7.01 of this Current Report on Form 8-K and Exhibit 99.1 attached hereto is intended to be furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such filing.
Item 9.01 | Financial Statements and Exhibits. | ||||
| (d) | Exhibits. | ||||
| Exhibit No. | Description | ||||
| 99.1 | |||||
| 104 | Inline XBRL for the cover page of this Current Report on Form 8-K | ||||
SIGNATURE
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.
| KULICKE AND SOFFA INDUSTRIES, INC. | |||||||||||
| Date: October 28, 2025 | By: | /s/ LESTER WONG | |||||||||
| Name: | Lester Wong | ||||||||||
| Title: | Executive Vice President, Interim Chief Executive Officer and Chief Financial Officer (principal executive officer, principal financial officer and principal accounting officer) | ||||||||||
Exhibit 99.1
Kulicke & Soffa Pte. Ltd. 23A Serangoon North Ave 5 Singapore 554369 +65 6880-9600 main Co. Regn. No. 199902120H | |||||
 | Kulicke and Soffa Industries, Inc. 1005 Virginia Drive Fort Washington, PA 19034 USA +1-215-784-6000 main www.kns.com | ||||
Kulicke and Soffa Industries, Inc. Announces CEO Transition
Lester Wong to Serve as Interim CEO; Board of Directors Initiates Process to Identify Permanent Successor; Dr. Fusen Chen to Retire for Health Reasons
SINGAPORE – October 28, 2025 - Kulicke and Soffa Industries, Inc. (NASDAQ: KLIC) (“Kulicke & Soffa”, “K&S”, “we” or the “Company”) today announced that Dr. Fusen Chen has agreed to retire from his position as President and CEO, and as a member of the Board, effective December 1, 2025, due to health reasons. Following the effective date, Dr. Chen will serve as an advisor to the Board for a 12-month period. The Board has initiated a process to identify the Company’s next permanent CEO. The search will include internal and external candidates.
Effective immediately, the Board of Directors has appointed Lester Wong, the Company’s current Executive Vice President, Finance and IT and Chief Financial Officer, as the Company’s Interim CEO. As Dr. Chen transitions from his role and in leading up to his retirement, he will support Lester Wong in ensuring a smooth transition and handover. Mr. Wong will also continue in his existing roles during this transitional period.
“We are profoundly grateful to Fusen for his visionary leadership, unwavering commitment, and remarkable achievements during his nine-year tenure as CEO and President,” said Peter Kong, Chairman of the K&S Board. “Fusen’s dedication to innovation and operational excellence has enabled K&S to grow and create value for shareholders. His leadership has solidified the Company’s core served market positions while accelerating its position at the forefront of advanced packaging and dispense technologies. His legacy will continue to inspire our organization for years to come. On behalf of the Board and the entire K&S family, I extend our heartfelt thanks and wish Fusen good health and success in his next chapter.”
“It has been a great honor to serve as Kulicke & Soffa’s CEO,” said Dr. Fusen Chen, President and CEO of K&S. “I thank our incredible team for their support. Together, we have navigated unprecedented global challenges with resilience and agility while building on the 75-year track record of innovation to unlock new opportunities across our markets, drive significant growth and create value for our shareholders. I am proud to have been a part of this progress and have the utmost confidence in K&S’ future.”
Mr. Kong added, “The Board has commenced a comprehensive search to identify the right leader to continue driving K&S’ strong momentum, expand our market share, further enhance our diverse portfolio and help our customers address critical challenges in the industry. As Executive Vice President and CFO, Lester has played an instrumental role in the Company’s success and we are confident that he will continue to drive K&S’ growth and innovation during this interim period.”
Mr. Kong concluded, “Together with the Board, I will assist Lester and the Executive Leadership Team in ensuring the continuity of leadership, stability and strategic focus of the Company. We believe this collaborative approach is critical as the Company is ushering through a period of exciting growth, driven by continued core-market improvement and capacity expansion, coupled with strong demand in sectors like AI, electric vehicles, and power semiconductors. We are investing in next-generation solutions such as ATPremier MEM PlusTM and expanding our capabilities in fluxless thermocompression bonding and chiplet integration. With a solid financial foundation and a clear strategic roadmap, we are well-positioned to support our customers’ evolving needs and deliver long-term value.”
1
“I look forward to assuming the interim CEO position and working closely with Peter, the Board and the entire Executive Leadership Team as the Board conducts its search for a permanent CEO to lead K&S into its next phase,” said Lester Wong, Executive Vice President, Finance and IT and CFO of K&S. “I am confident in the clear strategy we’ve established, which positions us to continue driving our leadership across semiconductor assembly technology and unlock meaningful value for our shareholders.”
K&S Reaffirms its Fourth Quarter Fiscal 2025 Outlook
In connection with today’s announcement, the Company reaffirmed its fourth quarter fiscal 2025 outlook. The Company intends to announce its fourth quarter fiscal 2025 financial results on November 19, 2025.
About Lester Wong
Mr. Wong, 59, has been the Company’s Chief Financial Officer since December 2018, and was promoted to Executive Vice President, from Senior Vice President, on January 1, 2022. Prior to that, Mr. Wong served as General Counsel & Senior Vice President, Legal Affairs beginning in September 2011. Mr. Wong has over 20 years of legal leadership at U.S. listed and Asian-based companies, with a wealth of experience in global corporate law. Previously, Mr. Wong served as General Counsel and held other senior legal positions at publicly traded companies including Gigamedia Limited and CDC Corporation.
About Kulicke & Soffa
Kulicke & Soffa is a global leader in semiconductor assembly technology, advancing device performance across automotive, compute, industrial, memory and communications markets. Founded on innovation in 1951, K&S is uniquely positioned to overcome increasingly dynamic process challenges – creating and delivering long-term value by aligning technology with opportunity.
Contacts:
| Kulicke & Soffa | |||||
| Marilyn Sim | |||||
| Public Relations | |||||
| P: +65-6880 9309 | |||||
| [email protected] | |||||
| Kulicke & Soffa | |||||
| Joseph Elgindy | |||||
Finance | |||||
| P: +1-215-784-7500 | |||||
| [email protected] | |||||
2