PHOTRONICS INC 8-K

What Happened
Photronics, Inc. (PLAB) announced in an 8-K filed January 2, 2026 (Item 5.02) that Dr. Christopher J. Progler has stepped down from his role as Executive Vice President and Chief Technology Officer, effective December 29, 2025. The company issued a press release on January 2, 2026 announcing the change. Dr. Progler is considering an advisory engagement to support continuity on strategic priorities.

Key Details

• Dr. Christopher J. Progler resigned as EVP & CTO effective December 29, 2025.
• Under his Employment Agreement, he is entitled to a payment of $445,805 (equal to 12 months’ base salary), payable in 26 equal installments under the company’s payroll practices, upon execution of a required Release Agreement.
• He will receive continuation of medical and dental coverage for 360 days and any accrued obligations through December 29, 2025, also contingent on the Release Agreement.
• The company announced the transition via a press release dated January 2, 2026 (attached as Exhibit 99.1).

Why It Matters
This filing documents a senior technology leadership change and the related contractual payments and benefits that the company will provide. The severance and benefit continuation are specific, quantifiable items ($445,805 and 360 days coverage) that affect post-employment obligations and may be relevant to investors tracking management stability and near-term cash commitments. The potential advisory role may help preserve continuity on strategic technology initiatives while the company manages the transition.