Magnachip Semiconductor filings document the reporting and governance records of a Delaware company with common stock listed on the New York Stock Exchange under MX. Its 8-K reports furnish quarterly and annual financial information for continuing operations, including Power Analog Solutions and Power IC, and include exhibits describing product launches and operating highlights in power semiconductors.
The filing record also covers proxy and governance matters, including executive compensation, pay-versus-performance disclosures, board and committee changes, director compensation arrangements, and executive service or separation agreements involving the company and its Korean operating subsidiary, Magnachip Semiconductor, Ltd. These disclosures connect capital-structure, leadership and compensation matters to the company’s semiconductor operating business.
Magnachip Semiconductor Corporation filed an amended current report to provide full details of the separation agreement with Theodore S. Kim, its Chief Compliance Officer, General Counsel and Secretary. Under the agreement, Mr. Kim resigned all positions with Magnachip and its subsidiaries on September 9, 2025, and his employment will end effective at the end of October 21, 2025.
Magnachip agreed to pay cash severance equal to twelve times Mr. Kim’s monthly base salary, payable in installments over twelve months after the separation date, plus a prorated annual bonus for calendar year 2025. Outstanding unvested equity awards will be treated as if his departure were a termination without cause under the company’s equity plans, and certain expatriate benefits will temporarily continue. These benefits are conditioned on Mr. Kim signing and not revoking a release of claims and complying with his confidentiality and related agreements. The executed separation agreement is filed as an exhibit.
Magnachip Semiconductor appointed Camillo Martino as Interim Chief Executive Officer on August 11, 2025. Mr. Martino, age 63, has served as non-executive Chairman since June 2020 and as a director since August 2016; he will continue as Chair but has stepped down from the Audit, Compensation and Nominating and Corporate Governance Committees. The prior CEO, Young-Joon Kim, resigned as Chief Executive Officer on August 11, 2025 and from the Board on August 8, 2025 and will remain the liquidator of Magnachip Mixed-Signal, Ltd. until its liquidation is complete. Under a Separation Agreement, the company agreed to pay Mr. Kim cash severance equal to twenty-four times his monthly base salary, payable ratably over 24 months with the first payment due two months after separation, plus any earned prorated 2025 bonus; outstanding unvested equity awards will be treated as if the separation were a termination without cause for purposes of the applicable equity plans. The Separation Benefits are contingent on execution and non-revocation of a release and compliance with confidentiality and other agreements. The Separation Agreement is filed as Exhibit 10.1 and a related press release is furnished as Exhibit 99.1.
Magnachip Semiconductor (NYSE:MX) filed a Form 8-K reporting the results of its 2025 Annual Meeting held on June 23, 2025.
With 79.21% quorum (28.6 M shares), shareholders re-elected all five directors, gave 77% advisory approval to 2024 executive compensation (16.1 M for / 4.7 M against) and ratified Ernst & Young Han Young as auditor for FY 2025 (28.1 M for / 0.45 M against). No other matters were brought forward.