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As Of Filer Filing For·On·As Docs:Size Issuer Filing Agent 3/28/24 Shimmick Corp. 10-K 12/29/23 85:10M Donnelley … Solutions/FA |
Document/Exhibit Description Pages Size 1: 10-K Annual Report HTML 2.53M 2: EX-4.1 Instrument Defining the Rights of Security Holders HTML 44K 3: EX-10.9 Material Contract HTML 169K 4: EX-21.1 Subsidiaries List HTML 31K 5: EX-23.1 Consent of Expert or Counsel HTML 25K 10: EX-97 Clawback Policy re: Recovery of Erroneously HTML 57K Awarded Compensation 6: EX-31.1 Certification -- §302 - SOA'02 HTML 31K 7: EX-31.2 Certification -- §302 - SOA'02 HTML 31K 8: EX-32.1 Certification -- §906 - SOA'02 HTML 28K 9: EX-32.2 Certification -- §906 - SOA'02 HTML 28K 12: R1 Document and Entity Information HTML 101K 13: R2 Consolidated Balance Sheets HTML 150K 14: R3 Consolidated Balance Sheets (Parenthetical) HTML 35K 15: R4 Consolidated Statements of Operations HTML 109K 16: R5 Consolidated Statements of Stockholders' Equity HTML 81K 17: R6 Consolidated Statements of Cash Flows HTML 128K 18: R7 Pay vs Performance Disclosure HTML 38K 19: R8 Insider Trading Arrangements HTML 35K 20: R9 Business and Organization HTML 31K 21: R10 Basis of Presentation and Summary of Significant HTML 93K Accounting Policies 22: R11 Revenue Receivables and Contract Assets and HTML 142K Liabilities 23: R12 Joint Ventures and Variable Interest Entities HTML 111K 24: R13 Property Plant and Equipment and Intangible Assets HTML 112K 25: R14 Debt HTML 50K 26: R15 Income Taxes HTML 132K 27: R16 Stock-Based Compensation HTML 65K 28: R17 Earnings Per Share HTML 58K 29: R18 Leases HTML 151K 30: R19 Employee Retirement Plans HTML 131K 31: R20 Commitments and Contingencies HTML 36K 32: R21 Basis of Presentation and Summary of Significant HTML 144K Accounting Policies (Policies) 33: R22 Revenue Receivables and Contract Assets and HTML 137K Liabilities (Tables) 34: R23 Joint Ventures and Variable Interest Entities HTML 114K (Tables) 35: R24 Property Plant and Equipment and Intangible Assets HTML 112K (Tables) 36: R25 Debt (Tables) HTML 42K 37: R26 Income Taxes (Tables) HTML 127K 38: R27 Stock-Based Compensation (Tables) HTML 59K 39: R28 Earnings Per Share (Tables) HTML 56K 40: R29 Leases (Tables) HTML 157K 41: R30 Employee Retirement Plans (Tables) HTML 123K 42: R31 Intangible Assets (Tables) HTML 82K 43: R32 Business and Organization - Additional Information HTML 37K (Details) 44: R33 Basis of Presentation and Summary of Significant HTML 89K Accounting Policies - Additional Information (Details) 45: R34 Revenue Receivables and Contract Assets and HTML 48K Liabilities - Additional Information (Details) 46: R35 Revenue Receivables and Contract Assets and HTML 39K Liabilities - Summary of Company's Revenue Disaggregated by Contract Types (Details) 47: R36 Revenue Receivables and Contract Assets and HTML 38K Liabilities - Summary of Company's Revenue Disaggregated by Shimmick Projects and Legacy Projects (Details) 48: R37 Revenue Receivables and Contract Assets and HTML 54K Liabilities - Summary of Information about Contract Assets and Contract Liabilities (Details) 49: R38 Revenue Receivables and Contract Assets and HTML 33K Liabilities - Summary of Unconditional Right to Cash from Clients (Details) 50: R39 Revenue Receivables and Contract Assets and HTML 43K Liabilities - Summary of Information about Significant Customers (Details) 51: R40 Joint Ventures and Variable Interest Entities HTML 79K -Summary of Financial Information of Consolidated Joint Ventures (Details) 52: R41 Joint Ventures and Variable Interest Entities HTML 97K -Summary of Financial Information of Unconsolidated Joint Ventures (Details) 53: R42 Joint Ventures and Variable Interest Entities HTML 34K -Summary of Revenue Included Related to Services Provided to Related Parties (Details) 54: R43 Joint Ventures and Variable Interest Entities - HTML 28K Summary of Condensed Consolidated Balance Sheets Related to Services Provided to Unconsolidated Joint Ventures (Details) 55: R44 Property Plant and Equipment and Intangible Assets HTML 41K - Schedule of Components of Property Plant and Equipment Net (Details) 56: R45 Property Plant and Equipment and Intangible Assets HTML 28K - Schedule of Components of Property Plant and Equipment Net (Depreciation Expense) (Details) 57: R46 Property Plant and Equipment and Intangible Assets HTML 41K - Schedule of Finite-Lived Intangible Assets Including the weighted Average Useful Lives (Details) 58: R47 Property Plant and Equipment and Intangible Assets HTML 37K - Schedule of Estimated Aggregate Remaining Amortization (Details) 59: R48 Property Plant and Equipment and Intangible Assets HTML 43K - Additional Information (Details) 60: R49 Debt - Schedule of Debt (Details) HTML 44K 61: R50 Debt - Additional Information (Details) HTML 66K 62: R51 Income Taxes - Additional Information (Details) HTML 42K 63: R52 Income Taxes - Schedule of Components of Income HTML 48K tax Expense (Details) 64: R53 Income Taxes - Schedule of Effective Income Tax HTML 46K Rate Reconciliation (Details) 65: R54 Income Taxes - Schedule of Deferred Tax Assets and HTML 60K Liabilities (Details) 66: R55 Stock-Based Compensation - Additional Information HTML 52K (Details) 67: R56 Stock-Based Compensation - Summary of Stock Option HTML 74K Activity (Details) 68: R57 Earnings Per Share - Additional Information HTML 28K (Details) 69: R58 Earnings Per Share - Summary of computation of HTML 71K basic and diluted EPS (Details) 70: R59 Leases - Schedule of Lease Expense (Details) HTML 42K 71: R60 Leases - Schedule of Balance Sheets Information HTML 56K Related to Leases (Details) 72: R61 Leases - Schedule of Weighted Average Remaining HTML 35K Lease Term (Details) 73: R62 Leases - Schedule of Supplemental Cash Flow HTML 33K Information (Details) 74: R63 Leases - Schedule of Remaining Lease Payments HTML 65K Under Operating and Financing Leases (Details) 75: R64 Employee Retirement Plans - Additional Information HTML 42K (Details) 76: R65 Employee Retirement Plans - Schedule of HTML 104K Multiemployer Plans (Details) 77: R66 Intangible Assets - Schedule of Finite-Lived HTML 41K Intangible Assets Including the weighted Average Useful Lives (Details) 78: R67 Intangible Assets - Schedule of Estimated HTML 37K Aggregate Remaining Amortization (Details) 79: R68 Intangible Assets -Additional Information HTML 28K (Details) 80: R69 Commitments and Contingencies - Additional HTML 27K Information (Details) 82: XML IDEA XML File -- Filing Summary XML 158K 85: XML XBRL Instance -- shim-20231229_htm XML 2.35M 81: EXCEL IDEA Workbook of Financial Report Info XLSX 149K 11: EX-101.SCH XBRL Taxonomy Extension Schema With Embedded XSD 2.99M Linkbases Document -- shim-20231229 83: JSON XBRL Instance as JSON Data -- MetaLinks 556± 852K 84: ZIP XBRL Zipped Folder -- 0000950170-24-038024-xbrl Zip 447K
EX-4.1 |
Exhibit 4.1
DESCRIPTION OF CAPITAL STOCK
The following describes common stock and preferred stock of Shimmick Corporation (“Shimmick,” “we,” “our,” “us,” “its” or the “Company”) and certain terms of our amended and restated certificate of incorporation and amended and restated bylaws. This description is a summary only and is subject to the complete text of our amended and restated certificate of incorporation and bylaws, which have been incorporated by reference as exhibits to this Annual Report on Form 10-K.
General
Our amended and restated certificate of incorporation authorizes capital stock consisting of 100,000,000 shares of common stock, par value $0.01 per share, and 25,000,000 shares of preferred stock, par value $0.01 per share.
Common Stock
Each share of common stock entitles the holder to one vote on all matters on which holders are permitted to vote, including the election of directors. There are no cumulative voting rights. Accordingly, holders of a majority of shares entitled to vote in an election of directors are able to elect all of the directors standing for election.
Subject to preferences that may be applicable to any outstanding preferred stock, the holders of the common stock will share equally on a per share basis any dividends when, as and if declared by the board of directors out of funds legally available for that purpose. If we are liquidated, dissolved or wound up, the holders of our common stock will be entitled to a ratable share of any distribution to stockholders, after satisfaction of all of our liabilities and of the prior rights of any outstanding class of our preferred stock. Our common stock does not carry any preemptive or other subscription rights to purchase shares of our stock and are not convertible, redeemable or assessable.
Preferred Stock
Our board of directors has the authority, without stockholder approval, to issue shares of preferred stock from time to time in one or more series and to fix the number of shares and terms of each such series. The board may determine the designation and other terms of each series, including, among others:
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• dividend rates, • whether dividends will be cumulative or non-cumulative, • redemption rights, • liquidation rights, • sinking fund provisions, • conversion or exchange rights, and • voting rights. |
The issuance of preferred stock, while providing us with flexibility in connection with possible acquisitions and other corporate purposes, could reduce the relative voting power of holders of our common stock. It could also affect the likelihood that holders of our common stock will receive dividend payments and payments upon liquidation.
Anti-takeover Provisions of Our Certificate of Incorporation and Bylaws
Our amended and restated certificate of incorporation and bylaws include a number of provisions that may have the effect of deterring hostile takeovers or delaying or preventing changes in control of our company, including the following:
Authorized Capital. The issuance of shares of capital stock, or the issuance of rights to purchase shares of capital stock, could be used to discourage an attempt to obtain control of our company. For example, if, in the exercise of its fiduciary obligations, our board of directors determined that a takeover proposal was not in the best interest of our stockholders, the board could authorize the issuance of preferred stock or common stock without stockholder approval. The shares could be issued in one or more transactions that might prevent or make the completion of the change of control transaction more difficult or costly by:
In this regard, our amended and restated certificate of incorporation grants our board of directors broad power to establish the rights and preferences of the authorized and unissued preferred stock. Our board could establish one or more series of preferred stock that entitle holders to:
Alternatively, a change of control transaction deemed by the board to be in the best interest of our stockholders could be facilitated by issuing a series of preferred stock having sufficient voting rights to provide a required percentage vote of the stockholders.
Action by Written Consent. Our amended and restated certificate of incorporation and our amended and restated bylaws provide that holders of our common stock are not able to act by written consent without a meeting.
Advance Notice Requirements for Stockholder Proposals and Director Nominations. Our amended and restated bylaws provide advance notice procedures for stockholders seeking to bring business before our annual meeting of stockholders, or to nominate candidates for election as directors at any meeting of stockholders. Our amended and restated bylaws also specify certain requirements regarding the form and content of a stockholder’s notice. These provisions may preclude our stockholders from bringing matters before our annual meeting of stockholders or from making nominations for directors at our meetings of stockholders.
Amendment of Certificate of Incorporation and Amended and Restated Bylaws. Certain provisions of our amended and restated certificate of incorporation and amended and restated bylaws that have antitakeover effects may be amended only by the affirmative vote of holders of at least two-thirds of the voting power of our outstanding shares of voting stock, voting together as a single class. This has the effect of making it more difficult to amend our certificate of incorporation or bylaws to remove or modify these provisions. The affirmative vote of holders of a majority of the voting power of our outstanding shares of stock is generally able to amend other provisions of our amended and restated certificate of incorporation and the holders of a majority of the voting power present and entitled to vote is generally able to amend other provisions of our amended and restated bylaws.
These provisions of our amended and restated certificate of incorporation and amended and restated bylaws could make it more difficult to acquire of control of us by means of a tender offer, merger, proxy contest or otherwise. Accordingly, these provisions could have the effect of discouraging coercive takeover practices and inadequate takeover bids. These provisions are also designed to encourage persons seeking to acquire control of us to first negotiate with our board of directors. We believe that the benefits of increased protection give us the potential ability to negotiate with the proponent of an unfriendly or unsolicited proposal to acquire or restructure us, and that the benefits of this increased protection outweigh the disadvantages of discouraging those proposals, because negotiation of those proposals could result in an improvement of their terms.
Exclusive Forum
Our amended and restated charter documents provide, subject to limited exceptions, that unless we consent to the selection of an alternative forum, the Court of Chancery of the State of Delaware (or if such court does not have subject matter jurisdiction another state or the federal court (as appropriate) located within the State of Delaware) shall, to the fullest extent permitted by law, be the sole and exclusive forum for any (1) derivative action or proceeding brought on our behalf, (2) action asserting a claim of breach of a fiduciary duty owed by any current or former director, officer or other employee or stockholder of ours to us or our stockholders, (3) action asserting a claim against us or any current or former director or officer of ours arising pursuant to any provision of the DGCL or our amended and restated certificate of incorporation or our amended and restated bylaws or as to which the DGCL confers jurisdiction on the Court of Chancery of the State of Delaware, or (4) action asserting a claim governed by the internal affairs doctrine of the State of Delaware.
Our amended and restated certificate of incorporation further provides that, unless we consent in writing to the selection of an alternative forum, to the fullest extent permitted by law, the federal district courts of the United States of America will be the exclusive forum for the resolution of any complaint asserting a cause of action arising under the federal securities laws of the United States, including any claims under the Securities Act and the Exchange Act. However, Section 22 of the Securities Act creates concurrent jurisdiction for federal and state courts over all suits brought to enforce a duty or liability created by the Securities Act or the rules and regulations thereunder and accordingly, we cannot be certain that a court would enforce such provision. It is possible that a court could find our forum selection provisions to be inapplicable or unenforceable and, accordingly, we could be required to litigate claims in multiple jurisdictions, incur additional costs or otherwise not receive the benefits that we expect our forum selection provisions to provide.
Any person or entity purchasing or otherwise acquiring any interest in shares of our capital stock shall be deemed to have notice of and consented to the forum provisions in our amended and restated charter documents. Our exclusive forum provision shall not relieve us of our duties to comply with the federal securities laws and the rules and regulations thereunder, and our stockholders will not be deemed to have waived our compliance with these laws, rules and regulations.
Limitation of Liability and Indemnification of Directors and Officers
The DGCL authorizes corporations to limit or eliminate the personal liability of directors and certain officers to corporations and their stockholders for monetary damages for breaches of directors’ fiduciary duties, subject to certain exceptions. Our amended and restated certificate of incorporation includes a provision that eliminates the personal liability of directors and officers for monetary damages for any breach of fiduciary duty as a director or officer, except to the extent such exemption from liability or limitation thereof is not permitted under the DGCL. The effect of these provisions is to eliminate the rights of us and our stockholders, through stockholders’ derivative suits on our behalf, to recover monetary damages from a director for breach of fiduciary duty as a director, including breaches resulting from grossly negligent behavior. This provision does not limit or eliminate the liability of any officer in any action by or in the right of the Company, including any derivative claims. Further, the exculpation does not apply to any director or officer if the director or officer has breached the duty of loyalty to the corporation and its stockholders, acted in bad faith, knowingly or intentionally violated the law, or derived an improper benefit from his or her actions as a director or officer. In addition, exculpation does not apply to any director in connection with the authorization of illegal dividends, redemptions or stock repurchases.
Our amended and restated bylaws provide that we must generally indemnify, and advance expenses to, our directors and officers to the fullest extent authorized by the DGCL. We also are expressly authorized to carry directors’ and officers’ liability insurance providing indemnification for our directors, officers and certain employees for some liabilities. We also have entered into indemnification agreements with our directors, which agreements will require us to indemnify these individuals to the fullest extent permitted under Delaware law against liabilities that may arise by reason of their service to us, and to advance expenses incurred as a result of any proceeding against them as to which they could be indemnified. We believe that these indemnification and advancement provisions, and insurance will be useful to attract and retain qualified directors and officers.
The limitation of liability, indemnification and advancement provisions in our amended and restated certificate of incorporation and amended and restated bylaws may discourage stockholders from bringing a lawsuit against
directors or officers for breach of their fiduciary duty. These provisions also may have the effect of reducing the likelihood of derivative litigation against directors and officers, even though such an action, if successful, might otherwise benefit us and our stockholders. In addition, your investment may be adversely affected to the extent we pay the costs of settlement and damage awards against directors and officers pursuant to these indemnification provisions.
Listing of Common Stock
Our common stock is listed on the Nasdaq Global Market under the symbol “SHIM.”
Transfer Agent and Registrar
The transfer agent and registrar for our common stock is Equiniti Trust Company.
This ‘10-K’ Filing | Date | Other Filings | ||
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Filed on: | 3/28/24 | 8-K | ||
For Period end: | 12/29/23 | |||
List all Filings |
As Of Filer Filing For·On·As Docs:Size Issuer Filing Agent 11/16/23 Shimmick Corp. 8-K:5,8,9 11/16/23 3:154K Donnelley … Solutions/FA 10/27/23 Shimmick Corp. S-1/A 6:4.4M Donnelley … Solutions/FA 10/24/23 Shimmick Corp. S-1/A 15:3.7M Donnelley … Solutions/FA 10/05/23 Shimmick Corp. S-1 13:5.9M Donnelley … Solutions/FA |