8-K

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 07, 2024

   

BENCHMARK ELECTRONICS, INC.

(Exact name of Registrant as Specified in Its Charter)


Texas	001-10560	74-2211011
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(IRS Employer Identification No.)

56 South Rockford Drive
Tempe, Arizona		85288
(Address of Principal Executive Offices)		(Zip Code)

    Registrant’s Telephone Number, Including Area Code: (623) 300-7000

   

(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:

☐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
Common Stock, par value $0.10 per share	BHE	The New York Stock Exchange

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 October 7, 2024, Benchmark Electronics, Inc. (the “Company”) announced the appointment of Bryan Schumaker, 48, as Executive Vice President (EVP), Chief Financial Officer (CFO) and Principle Accounting Officer.

His appointment will be effective October 8, 2024. Most recently Mr. Schumaker served as EVP and CFO of SOURCE Global, PBC, who produces the world’s first fully renewable drinking water system. Prior to that assignment Mr. Schumaker held CFO roles at TPI Composites, Inc. (NASDAQ:TPIC) and 8point3 Energy Partners (NASDAQ:CAFD), while previously serving as Senior Vice President and Chief Accounting Officer for First Solar, Inc. (NASDAQ:FSLR). Mr. Schumaker holds a Bachelor of Business Administration in Accounting from the University of New Mexico and is a Certified Public Accountant.

Mr. Schumaker’s compensation will include the following:

•

a base salary of $535,000 per year;

•

a one-time sign-on cash payment of $50,000 which would be repaid pro rata if he left the Company within 1 year following his start date;

•

participation in the Company’s annual incentive plan with a target incentive award of 80% of his annual eligible pay at target achievements, on the same terms and conditions as the other executives of the Company participating in such plan, starting with the 2025 fiscal year;

•

participation in the Company’s long-term incentive plan, including an award with a target value of $1,400,000, comprised of 50% restricted stock units vesting ratably over 3 years and 50% performance-based restricted stock units vesting at the end of the 3 year performance period ending in 2026;

•

participation in the Company’s deferred compensation plan, executive health screening, tax planning reimbursement and other health and benefit programs the Company offers to its executives on the same terms and conditions as the other executives participating in such plans and programs.

Item 8.01 Other Events.

On October 7, 2024, the Company issued a press release announcing the appointment of Bryan Schumaker as CFO of the Company, effective immediately. The press release is incorporated herein by reference to Exhibit 99.1 filed herewith.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.


Exhibit No.		Description of Exhibit
99.1		Press release, dated October 7, 2024
104		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.


			BENCHMARK ELECTRONICS, INC.

Date:	October 7, 2024	By:	/s/ Stephen J. Beaver
			Stephen J. Beaver, Esq. Senior Vice President, General Counsel and Chief Legal Officer

EX-99.1

Exhibit 99.1

FOR IMMEDIATE RELEASE

Benchmark Appoints Bryan Schumaker as Chief Financial Officer

TEMPE, Ariz., October 7, 2024 - Benchmark Electronics, Inc. (NYSE: BHE), a global provider of engineering, design, and manufacturing services, today announced the appointment of Bryan Schumaker as the company’s chief financial officer (CFO) effective October 8. Schumaker brings more than 20 years of financial and leadership experience across public and private sectors, driving growth, operational excellence, and strategic capital management.

“We are thrilled to welcome Bryan to the team as our new Chief Financial Officer,” said Jeff Benck, president and CEO of Benchmark. “With his deep understanding of the manufacturing industry and proven track record of success as a public company CFO, we are confident Bryan will play a key role in our strategic direction while driving operational excellence. We are confident that his expertise will be a tremendous asset to Benchmark as we continue to scale our business and enhance shareholder value.”

Schumaker’s impressive track record as CFO within both the manufacturing and renewable energy sectors positions him as a key contributor to Benchmark’s future success. In his most recent role as CFO of SOURCE Global, Schumaker played a key role in transforming the financial operations of the company, preparing it for public market readiness and leading the development of a global shared service center in Malaysia. His financial leadership contributed significantly to the quadrupling of revenue growth during his two-and-a-half-year tenure, establishing it as a leader in a market-defining industry. Prior to SOURCE Global, Schumaker was the CFO of TPI Composites, Inc. and 8point3 Energy Partners, while previously serving as SVP and Chief Accounting Officer for First Solar Inc.

At Benchmark, Schumaker will be responsible for overseeing the company’s financial operations, including strategic financial planning, capital structure management, and investor relations. His leadership will be critical in driving Benchmark’s growth and ensuring operational excellence as the company continues to capitalize on the significant growth opportunities inherent to its served markets.

“I am excited to join Benchmark at such a pivotal time in the company’s journey,” said Schumaker. “I look forward to working with this talented team to help drive continued success and value for our stakeholders.”

Schumaker holds a Bachelor of Business Administration in Accounting from the University of New Mexico and is a Certified Public Accountant (CPA). His appointment is a continuation of Benchmark’s ongoing commitment to enhancing its leadership strength as the Company continues to expand operations and drive operational excellence. To learn more about Schumaker and Benchmark’s senior leadership team, please visit https://www.bench.com/leadership-team.

About Benchmark Electronics, Inc.
Benchmark provides comprehensive solutions across the entire product lifecycle; leading through its innovative technology and engineering design services; leveraging its optimized global supply chain; and delivering world-class manufacturing services in the following industries: commercial aerospace, defense, advanced computing and communications, medical, complex industrials, and semiconductor capital equipment. Benchmark’s global operations include facilities in seven countries and its common shares trade on the New York Stock Exchange under the symbol BHE.

For More Information, Please Contact:

Paul Mansky

Investor Relations and Corporate Development

Email: paul.mansky@bench.com

Mobile: 623-300-7052