Filing Analysis
Everspin Technologies, Inc. announced the appointment of Vikas Choudhary to its Board of Directors, effective August 9, 2026.
📋 Key Facts
- Vikas Choudhary appointed as director, effective August 9, 2026.
- Term: Until the 2027 annual meeting of stockholders or until successor is elected/qualified.
- Compensation includes a $55,000 annual cash retainer and an initial $250,000 RSU award vesting over two years (50% annually).
- Mr. Choudhary currently serves as SVP and GM at MaxLinear, Inc.
Everspin Technologies, Inc. filed an 8-K to announce its financial results for the quarter ended June 30, 2026. The filing serves as a formal announcement of the earnings release issued on August 5, 2026.
📋 Key Facts
- Reported date: August 5, 2026
- Reporting period: Quarter ended June 30, 2026
- The filing includes a press release (Exhibit 99.1) detailing financial results.
- Signed by William Cooper, Chief Financial Officer.
Everspin Technologies announced the resignation of Lawrence G. Finch from the Board of Directors and the Audit Committee, effective August 4, 2026. The company stated that his departure is not due to any disagreements regarding operations, policies, or practices.
🚩 Red Flags
- Departure from the Audit Committee can sometimes signal internal friction, though not indicated here by the filing language.
📋 Key Facts
- Lawrence G. Finch resigned from the Board of Directors on July 14, 2026.
- Resignation includes his role as a member of the Audit Committee.
- Effective date of resignation is August 4, 2026.
- The company explicitly stated there were no disagreements with the Company regarding operations, policies, or practices.
Everspin Technologies, Inc. reported the results of its 2026 Annual Meeting of Stockholders held on May 21, 2026. Stockholders approved an amendment to the 2016 Equity Incentive Plan to add 1,800,000 shares and elected seven directors, though some directors and the equity plan faced notable voting opposition.
🚩 Red Flags
- Significant stockholder opposition to the equity incentive plan amendment, with 3,216,931 votes 'against' compared to 7,462,346 votes 'for' (approximately 30% opposition).
- High 'withheld' votes for directors Darin G. Billerbeck (3,402,394 withheld vs. 7,326,985 for) and Douglas Mitchell (3,034,116 withheld vs. 7,695,263 for), representing roughly 31.7% and 28.3% withheld rates respectively.
📋 Key Facts
- Stockholders approved the Amended and Restated 2016 Equity Incentive Plan, adding 1,800,000 shares to the plan's reserve.
- The amended plan introduces shareholder-friendly provisions, explicitly prohibiting the repricing of outstanding options or cash-outs of underwater options without prior stockholder approval.
- All seven director nominees were elected to serve until the 2027 Annual Meeting.
- Ernst & Young LLP was ratified as the independent registered public accounting firm for the fiscal year ending December 31, 2026.
Everspin Technologies entered into a $40 million subcontract with Amentum Services Inc. to develop on-shore Toggle MRAM production capabilities for the U.S. Navy. The agreement is a 30-month RDT&E program focused on providing manufacturing processes for strategic government systems.
🚩 Red Flags
- Contingent IP transfer: The company must provide process know-how and IP to the contractor if Everspin exits the Toggle MRAM business.
- Termination risk: The contractor can terminate for convenience if the government terminates the Prime Contract.
📋 Key Facts
- Total aggregate contract value is $40,000,000.
- The period of performance runs for 30 months from April 20, 2026, through November 21, 2028.
- The agreement is a Firm Fixed Price IDIQ subcontract under a Prime Contract with Naval Surface Warfare Center (NSWC) Crane.
- Payments are structured as milestone-based deliverables across two phases.
- Everspin is required to provide process know-how and IP for Toggle MRAM manufacturing if the company exits that business during the agreement.
Everspin Technologies, Inc. announced its financial results for the first quarter ended March 31, 2026. The announcement was made via a press release incorporated by reference in the filing.
📋 Key Facts
- The report covers the fiscal quarter ended March 31, 2026.
- The filing was made under Item 2.02 (Results of Operations and Financial Condition).
- A press release dated April 29, 2026, was included as Exhibit 99.1.
Everspin Technologies entered into a 10-year Foundry Services Agreement with Microchip Technology to manufacture MRAM and TMR wafers at Microchip's Oregon facility. The deal involves significant upfront costs and minimum purchase commitments, securing long-term production capacity for Everspin's core technologies.
🚩 Red Flags
- Significant capital commitment of $13.95 million for a micro-cap company.
- Mandatory cash payments required if minimum purchase commitments (up to 1,300 wafers/quarter) are not met.
- Long lead time of 18 to 30 months before production capacity is fully realized.
📋 Key Facts
- Agreement signed on April 8, 2026, with Microchip Technology for manufacturing at their Fab 4 facility in Gresham, Oregon.
- The initial term is ten years with automatic two-year renewals.
- Everspin will reimburse Microchip an estimated $13.95 million for relocation, installation, and engineering charges across two phases.
- Capacity for Toggle and Sensor flows is expected in 18 months, while STT flows are expected in 30 months.
- The agreement includes minimum purchase commitments ramping to 1,300 wafers per quarter, with cash penalties for shortfalls.
- Microchip is restricted from manufacturing TMR devices for Everspin's competitors during the term and for two years thereafter.
Everspin Technologies, Inc. announced its financial results for the fourth quarter and fiscal year ended December 31, 2025. The results were disclosed via a press release on March 4, 2026, in accordance with standard reporting practices.
📋 Key Facts
- The company reported financial results for the quarter and year ended December 31, 2025
- The filing was made under Item 2.02 (Results of Operations and Financial Condition)
- A press release detailing the results was attached as Exhibit 99.1
- The report was signed by CFO William Cooper on March 4, 2026
Everspin Technologies, Inc. announced on January 28, 2026, that it is facing a patent infringement lawsuit and an ITC complaint filed by Avalanche Technology, Inc. The litigation specifically targets the Company's Spin-transfer Torque Magnetoresistive Random Access Memory (STT-MRAM) products.
🚩 Red Flags
- Potential injunction risk via ITC investigation which could impact product imports/sales.
- Significant legal defense costs associated with multi-jurisdictional patent litigation (District Court and ITC).
- Risk to core STT-MRAM product line, a key technology for the company.
📋 Key Facts
- Avalanche Technology, Inc. filed a lawsuit in the U.S. District Court for the District of Delaware and an ITC complaint.
- The claims involve U.S. Patent Nos. 9,318,179, 9,419,210, 11,678,586, and 10,490,737.
- The litigation is limited to STT-MRAM products; it does not implicate Toggle MRAM or Sensor devices.
- Avalanche seeks customary remedies for patent infringement and an ITC investigation under Section 337 of the Tariff Act of 1930.
Everspin Technologies, Inc. filed an 8-K to announce its financial results for the quarter and fiscal year ended September 30, 2025.
📋 Key Facts
- Report date: November 5, 2025
- Period covered: Quarter and fiscal year ended September 30, 2025
- The filing includes a press release (Exhibit 99.1) detailing financial performance.
- Signed by William Cooper, Chief Financial Officer.
Everspin Technologies, Inc. filed an 8-K to announce its financial results for the quarter and quarter ended June 30, 2025. The filing serves as a formal announcement of the release of quarterly earnings via press release.
📋 Key Facts
- The report date is August 6, 2025.
- The financial results pertain to the period ending June 30, 2025.
- Financial results were released via a press release (Exhibit 99.1).
- The filing was signed by CFO William Cooper.
Everspin Technologies, Inc. held its 2025 Annual Meeting of Stockholders on May 22, 2025. The meeting resulted in the successful election of seven directors and the ratification of Ernst & Young LLP as the company's independent auditor.
📋 Key Facts
- Annual Meeting held on May 22, 2025.
- All seven proposed directors were elected to serve until the 2026 Annual Meeting or their respective successors are qualified.
- Ernst & Young LLP was ratified as the independent registered public accounting firm for the fiscal year ending December 31, 2025 (received 15,201,387 votes 'For').
- The advisory 'say-on-pay' proposal regarding executive compensation was approved by stockholders.
Everspin Technologies, Inc. filed an 8-K to announce its financial results for the quarter and quarter ended March 31, 2025.
📋 Key Facts
- Report date: April 30, 2025
- Reporting period: Quarter/Quarter ended March 31, 2025
- The filing includes a press release (Exhibit 99.1) regarding financial results.
- Signed by William Cooper, Chief Financial Officer.
Everspin Technologies, Inc. filed an 8-K to announce its financial results for the quarter and fiscal year ended December 31, 2024.
📋 Key Facts
- The filing is a standard announcement of quarterly and annual financial results.
- Reporting period: Quarter and Year ended December 31, 2024.
- Filing date: February 26, 2025.
- The company issued a press release (Exhibit 99.1) containing the detailed financial data.
Everspin Technologies, Inc. has appointed William Cooper as the new Chief Financial Officer, effective January 6, 2025. Mr. Cooper joins from AMD and brings extensive finance leadership experience in the semiconductor and data center sectors.
📋 Key Facts
- William Cooper appointed CFO effective January 6, 2025.
- Mr. Cooper previously served as Director of Financial Planning and Analysis at Advanced Micro Devices (AMD).
- Base salary is set at $300,000 per year with a target bonus of 75% of base salary.
- Sign-on bonus of $45,000 subject to one-year continued service.
- Equity award includes 100,000 Restricted Stock Units (RSUs) vesting over four years at 25% per year.
- Matthew Tenorio will transition from Interim CFO to Vice President, Finance.
Everspin Technologies, Inc. filed an 8-K to announce its financial results for the quarter ended September 30, 2024. The filing serves as a formal notice that a press release containing these results was issued on October 30, 2024.
📋 Key Facts
- Company announced quarterly financial results for the period ending September 30, 2024.
- The announcement was made via a press release dated October 30, 2024 (Exhibit 99.1).
- Matt Tenorio served as the Interim Chief Financial Officer at the time of signing.
Everspin Technologies has entered into a strategic award to develop a long-term manufacturing services plan for the aerospace and defense segments. The agreement aims to mitigate MRAM supply chain risks and includes milestone-based cash payments.
🚩 Red Flags
- Milestone-based structure means revenue is not guaranteed and depends on technical performance/deliverables.
📋 Key Facts
- Strategic award focused on aerospace and defense manufacturing services.
- Objective is to mitigate risks in the MRAM manufacturing supply chain.
- Potential total cash payments of approximately $14.55 million.
- The award spans a duration of 2.5 years.
- Payments are contingent upon achieving specific technical tasks and deliverables.
Everspin Technologies entered into a five-year joint development agreement with Frontgrade Colorado Springs LLC to develop Strategic Radiation Hardened (SRH) high-reliability eMRAM technology. The agreement includes potential cash payments totaling up to $9.25 million over multiple years based on technical milestones.
🚩 Red Flags
- All intellectual property developed as a result of the obligations under the Agreement will be owned solely by Frontgrade (potential loss of long-term IP value for Everspin).
📋 Key Facts
- Agreement entered into on August 8, 2024, with Frontgrade Colorado Springs LLC.
- Purpose: Development and demonstration of Strategic Radiation Hardened (SRH) high-reliability eMRAM macro.
- Total potential cash payments to Everspin: up to $9.25 million over multiple years.
- Current phase value: approximately $1.25 million.
- Agreement term: 5 years, with automatic 1-year renewals.
- Intellectual Property: All IP developed under the agreement will be owned solely by Frontgrade.
Everspin Technologies, Inc. filed an 8-K to announce its financial results for the second quarter ended June 30, 2024. The filing serves as a formal announcement of quarterly earnings via a press release.
📋 Key Facts
- Company announced Q2 2024 financial results on July 31, 2024.
- The reporting period covered the quarter ended June 30, 2024.
- Interim CFO Matt Tenorio signed the report.
Everspin Technologies announced the resignation of CFO Anuj Aggarwal, effective July 26, 2024, to pursue other opportunities. The company has appointed Matthew Tenorio as Interim CFO to lead finance operations during the search for a permanent successor.
🚩 Red Flags
- Sudden departure of the Chief Financial Officer (CFO) can create temporary uncertainty in financial leadership and reporting continuity.
- Use of an 'Interim' officer indicates a transition period where permanent strategic financial oversight may be in flux.
📋 Key Facts
- CFO Anuj Aggarwal resigned on July 12, 2024; effective date is July 26, 2024.
- Resignation stated as not being due to any disagreement with the Company's operations, policies, or practices.
- Matthew Tenorio appointed Interim CFO effective July 18, 2024.
- Tenorio previously served as Interim CFO for the company from January 2020 to June 2020.
- Interim CFO compensation includes a $275,000 base salary and a target bonus of 35%.
- The interim agreement includes potential equity awards of 15,000 RSUs vesting over three quarters.
Everspin Technologies, Inc. reported the results of its 2024 Annual Meeting of Stockholders held on May 23, 2024. The meeting included the election of seven directors, ratification of Ernst & Young LLP as independent auditors, and an advisory vote on executive compensation.
📋 Key Facts
- Annual Meeting held on May 23, 2024.
- All seven proposed directors were elected to serve until the 2025 Annual Meeting or successors are qualified.
- Ernst & Young LLP was ratified as the independent registered public accounting firm for the fiscal year ending December 31, 2024 with 13,950,084 votes 'For'.
- The 'say-on-pay' advisory vote regarding executive compensation was approved with 9,973,328 votes 'For'.
Everspin Technologies, Inc. filed an 8-K to announce its financial results for the fiscal quarter ended March 31, 2024.
📋 Key Facts
- The filing was made on May 1, 2024.
- The report pertains to the quarterly earnings release (Item 2.02).
- Financial results for the quarter ended March 31, 2024, are contained in Exhibit 99.1.
Everspin Technologies, Inc. filed an 8-K to announce its financial results for the quarter and fiscal year ended December 31, 2023.
📋 Key Facts
- Report date: February 28, 2024
- Reporting period: Quarter and Year ended December 31, 2023
- The filing includes a press release (Exhibit 99.1) detailing financial performance.
- Information disclosed under Item 2.02 is not deemed 'filed' for purposes of Section 18 of the Exchange Act.