Ultra Clean Holdings, Inc.

Ultra Clean Holdings, Inc. announced a series of executive transitions. Brian Harding will move from Chief Accounting Officer to Senior Vice President, Finance, leading global financial planning and analysis. Bryan Dennis has been appointed as the new Chief Accounting Officer, with a starting salary of $400,000, a 60% target bonus, and a $200,000 equity award. Additionally, Chief Information Officer Jeffrey McKibben has announced his intention to retire, and the company has begun searching for his replacement.

Ultra Clean Holdings, Inc. announced the transition of its Chief Financial Officer. Sheri Savage ceased her role as CFO effective August 5, 2026, and was succeeded by Michael Keogh. Ms. Savage will remain with the company as a non-officer Finance Advisor until May 1, 2027, under a Transition and Garden Leave Agreement, during which she will receive her base salary, be eligible for a 2026 annual bonus, and her equity awards will continue to vest.

Ultra Clean Holdings reported a net income of $8.7 million for the second quarter ended June 26, 2026, a significant improvement from a net loss of $162.0 million in the prior year, with revenues increasing 24.3% to $644.9 million. For the six months, the company reduced its net loss to $9.2 million from $167.0 million. The company also issued $600.0 million in convertible senior notes and repaid its term loan facility, while experiencing negative operating cash flow due to a substantial increase in inventories.

Ultra Clean Holdings, Inc. reported strong financial results for its second fiscal quarter ended June 26, 2026, with total revenue of $644.9 million, exceeding the top end of its guided range. The company achieved GAAP diluted earnings per share of $0.19 and non-GAAP diluted earnings per share of $0.70, showing significant improvement over the prior quarter. CEO James Xiao highlighted strong operational execution, increasing customer demand, and the compelling long-term outlook for semiconductor manufacturing driven by AI, as the company continues to execute its UCT 3.0 strategy.

Ultra Clean Holdings, Inc. announced the appointment of Michael Keogh as its new Chief Financial Officer, effective August 5, 2026. Mr. Keogh brings extensive experience from leadership roles at Ford, Bright Machines, Apple, Stanley Black & Decker, and Intel. His compensation package includes an annual base salary of $595,000, an 85% target annual bonus, and an initial equity grant of RSUs valued at $2,000,000, along with eligibility for future equity awards and severance benefits.

Ultra Clean Holdings filed an amendment to its Form 10-Q to disclose Rule 10b5-1 trading arrangements for its Chief Financial Officer, Sheri Savage, and Chief Accounting Officer, Brian Harding. Ms. Savage's plan provides for the sale of up to 74,392 shares, while Mr. Harding's plan allows for the sale of up to 38,207 shares, both subject to minimum price thresholds and scheduled to terminate in 2027. The amendment also includes new certifications from the company's principal executive and financial officers.

Ultra Clean Holdings, Inc. executed the Ninth Amendment to its Credit Agreement, effective February 26, 2026. This amendment modifies the existing credit agreement, originally dated August 27, 2018, with the Parent Borrower, Revolving Lenders, and Administrative Agent. The company reaffirmed its obligations, liens, and security interests under the loan documents, which will continue in full force and effect.

Ultra Clean Holdings, Inc. (UCTT) executed the Ninth Amendment to its Credit Agreement, effective February 26, 2026. This amendment modifies the existing Credit Agreement, originally dated August 27, 2018, with the Parent Borrower, Revolving Lenders, and Administrative Agent, Barclays Bank PLC. All other terms, conditions, obligations, covenants, and agreements of the Existing Credit Agreement and other Loan Documents are ratified and affirmed.

Ultra Clean Holdings, Inc. reported fiscal year 2025 results with revenue of $2.05 billion, a 2.1% decrease from $2.10 billion in 2024. The company posted a GAAP EPS of ($4.00) and a non-GAAP EPS of $1.05, down from $0.52 and $1.44 respectively in 2024, including a $151.1 million goodwill impairment charge. The definitive proxy statement outlines proposals for the 2026 Annual Meeting, including the election of directors, ratification of auditors, an advisory vote on executive compensation, and the approval of amendments to increase shares available under the stock incentive plan and employee stock purchase plan. Additionally, Thomas T. Edman was appointed as the new independent Chairperson of the Board.

Ultra Clean Holdings, Inc. entered into a Tenth Amendment to its Credit Agreement, refinancing its revolving credit commitments to an aggregate principal amount of $250 million. This amendment also extends the maturity of the revolving credit facility to April 23, 2031, providing the company with continued financial flexibility. The Credit Agreement includes provisions for letters of credit and potential increases in revolving credit commitments or incremental term loans.