SiliconBeat

The former president and chief executive of Genesis Microchip and a friend of his were charged by the Securities and Exchange Commission with insider trading in the company’s shares in the midst of confidential merger negotiations between Genesis and STMicroelectronics, one of the world’s largest semiconductor companies.

Genesis CEO and San Jose resident Elias Antoun allegedly bought shares of his companies stock in the brokerage accounts of a relative and a friend shortly after the company received a letter of intent Read the rest of this entry »

Ray Bingham quit the board of KLA-Tencor Wednesday, effective immediately, according to an 8-K filing the company made Thursday in which no reason was given. He apparently becomes the first beneficiary of a policy adopted by the board in February that allows directors in “good standing and with at least two full terms of Board service” to speed up the vesting of his unvested restricted stock on a prorated basis for his partial year of service. Read the rest of this entry »

Genesis Microchip, the Santa Clara maker of chips used in flat-panel displays, filed an
amended 10-K, its official annual financial report, Thursday to include changes it has made since it first filed the report covering fiscal 2007 on June 12.

The company said that in preparing its proxy statement for its upcoming shareholders meeting, “we enhanced the disclosure contained in the Compensation Discussion and Analysis section of the Original Filing.”

Some changes were stylistic, like switching tenses from present to past. One section that had begun, “Our executive bonus plan provides ‘at risk’ cash compensation,” was changed to, “In fiscal 2007, our executive bonus plan provided for ‘at risk’ compensation.” (Presumably future plans will be risk-based, too, but one is left to wonder.)

In other cases, additional details were very much “enhanced.”

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