Attached files
| file | filename |
|---|---|
| EX-10.2 - 2010 LONG TERM INCENTIVE PLAN - CASCADE MICROTECH INC | dex102.htm |
| EX-10.1 - EXECUTIVE COMPENSATION PLAN - CASCADE MICROTECH INC | dex101.htm |
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES
EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): February 5, 2010
CASCADE MICROTECH, INC.
(Exact name of registrant as specified in its charter)
| OREGON | 000-51072 | 93-0856709 | ||
| (State or other jurisdiction of incorporation) |
(Commission File Number) | (I.R.S. Employer Identification No.) |
2430 N.W. 206th Avenue
Beaverton, Oregon 97006
(503) 601-1000
(Address, including zip code, and telephone number, including
area code, of registrant’s principal executive offices)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| ¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
| Item 5.02. | DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS | |||
| On February 5, 2010, the Board of Directors of Cascade Microtech, Inc. (the “Company”) approved the Executive Compensation Plan for the six-month period ending June 30, 2009 and the 2010 Long Term Incentive Plan (together, the “Executive Compensation Plans”). The Executive Compensation Plans establish target bonus levels for each participant and will be paid based on the achievement of certain performance goals. Copies of the Executive Compensation Plans are filed as Exhibits 10.1 and 10.2 to this report and are incorporated herein by reference.
Also on February 5, 2010, the Board of Directors of the Company established base salaries for 2010 and granted restricted stock units and stock options to the Company’s executive officers in the amounts set forth in the table below. The stock options have a per share exercise price of $4.24 and vest annually over 4 years. The restricted stock units vest annually over two years. | ||||
| Name |
Title |
2010 Base Salary | Stock Options | Restricted Stock Units | |||||
| Paul O’Mara |
VP Sales and Customer Support | $ | 220,000 | 14,184 | 12,164 | ||||
| Michael Kondrat |
VP Marketing | 187,000 | 12,057 | 8,384 | |||||
| Anand Nambiar |
VP Operations | 204,000 | 14,628 | 8,988 | |||||
| Steven Sipowicz |
Chief Financial Officer | 198,000 | 14,184 | 11,570 | |||||
| Steven Harris |
VP Engineering | 264,000 | 17,021 | 12,199 | |||||
| Eric Strid |
Chief Technical Officer | 210,000 | — | 1,555 | |||||
| Item 9.01. |
FINANCIAL STATEMENTS AND EXHIBITS | |||
| (d) | Exhibits. | |||
| 10.1 | Executive Compensation Plan for the Six-Month Period Ending June 30, 2010. | |||||
| 10.2 | 2010 Long Term Incentive Plan. | |||||
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized on February 11, 2010.
| CASCADE MICROTECH, INC. | ||
| (Registrant) | ||
| By |
/s/ Steven Sipowicz | |
| Steven Sipowicz | ||
| Vice President and Chief Financial Officer | ||
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