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
EARLIEST EVENT REPORTED: November 17, 2010
AXION
POWER INTERNATIONAL, INC.
(Exact
name of Registrant as specified in its charter)
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Delaware
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000-22573
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65-0774638
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(State
or other jurisdiction of
incorporation)
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(Commission
File
Number)
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(I.R.S.
Employer Identification
Number)
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3601
Clover Lane
New
Castle, PA 16105
(Address
of principal executive offices)
(724)
654-9300
(Registrant’s
telephone number, including area code)
(Former
name or former address, if changed since last report)
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 (see General Instruction A.2. below):
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o
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Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
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o
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
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o
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
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o
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Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
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ITEM
8.01 Other Information
Axion
Power International, Inc. has announced that effective as of November 17, 2010,
Glenn Patterson, a director, has adopted a prearranged trading plan in
accordance with guidelines specified by Rule 10b5-1 under the Securities and
Exchange Act of 1934 and the Company's policies related to sales by
insiders.
Rule
10b5-1 permits public company officers, directors and other insiders to adopt
written, pre-arranged stock trading plans when they are not in possession of
material nonpublic information. Using these plans, insiders may gradually
diversify investment portfolios and spread stock sales over a period of time,
regardless of any material nonpublic information they may receive after adopting
the plan.
Under his
10b5-1 plan, Mr. Patterson intends to sell, over six months beginning on January
17, 2011 and ending July 15, 2011, up to 180,000 shares of Axion common stock at
an average minimum selling price of $1.40 per share. In accordance with Rule
10b5-1, Mr. Patterson will not have any discretion over timing or amount of
sales of Axion stock under his plan. This 10b5-1 plan will facilitate the
orderly sale of common stock for personal financial planning purposes with the
goal of minimizing any market impact and avoiding any concerns about the timing
of the transactions. Mr. Patterson's sales of Axion stock under this plan will
be publicly reported to the Securities and Exchange Commission in accordance
with applicable securities laws, rules and regulations.
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, Axion Power
International, Inc. has caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
Dated:
December 3, 2010
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Axion
Power International, Inc.
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By:
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/s/
Charles R. Trego
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Charles
R. Trego
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Chief
Financial Officer
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