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): November 30, 2010
RASER
TECHNOLOGIES, INC.
(Exact name of
registrant as specified in its charter)
Commission File Number:
001-32661
|
DELAWARE
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87-0638510
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(State or
other jurisdiction of
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(IRS
Employer
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incorporation)
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Identification
No.)
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5152
North Edgewood Drive, Suite 200
Provo, Utah 84604
(Address of
principal executive offices, including zip code)
(801)
765-1200
(Registrant’s
telephone number, including area code)
N/A
(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:
[
] 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 November 30, 2010, Richard D.
Clayton resigned as Executive Vice President, General Counsel and Secretary of
Raser Technologies, Inc. (the “Company”) to accept a position with Via Motors,
Inc. (“Via”), previously known as Via Automotive, Inc. On December 3,
2010, Nicholas Goodman, the Chief Executive Officer and Class II director, was
appointed by the Company’s Board of Directors as its new Chairman, to succeed
Kraig Higginson, who stepped down as the Chairman to devote full attention to
the success of Via. Mr. Higginson, however, will continue to serve as
a Class III director whose term expires at the Company’s 2011 Annual Meeting of
Stockholders. In connection with his transition, the Company entered
into a post-employment severance agreement with Mr. Higginson to pay a total sum
of $180,000, in twelve equal monthly installments through November 30, 2011, in
consideration for which Mr. Higginson agreed to waive director fees for
2011. Also on December 3, 2010, Alan Perriton, a Class I director,
resigned to concentrate his efforts to Via’s
success. Mr. Perriton is presently serving as the Company’s
designated director on Via’s Board of Directors. As recently reported
by the Company in its report on Form 8-K filed on November 24, 2010, the Company
has a significant equity interest (approx. 39%) in Via and, accordingly, a
significant and continuing interest in Via’s success.
Signature(s)
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 hereunto
duly authorized.
| RASER TECHNOLOGIES, INC. | |||
| Date: December 6, 2010 | /s/ John Perry | ||
| John Perry, CFO | |||