UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
DC 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) December 7,
2010
SMART
BALANCE, INC.
(Exact
name of registrant as specified in its charter)
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Delaware
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001-33595
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20-2949397
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(State
or other jurisdiction
of
incorporation)
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(Commission
File
Number)
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(IRS
Employer
Identification
No.)
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115
West Century Road - Suite 260
Paramus,
New Jersey
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07652
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(Address
of principal executive offices)
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(Zip
Code)
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Registrant’s
telephone number including area code: (201) 568-9300
Not
Applicable
(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:
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¨
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Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230
.425)
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¨
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
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¨
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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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¨
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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
5.02.
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Departure
of Directors or Certain Officers; Election of Directors; Appointment of
Certain Officers; Compensatory Arrangements of Certain
Officers.
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(b)
(c) On December 7, 2010, the Board of Directors of Smart Balance, Inc.
(the “Company”)
appointed Christine Sacco to serve as the Company’s Principal Accounting
Officer, effective as of January 1, 2011. Ms. Sacco will replace John
F. Konzelmann, who will retire from the Company as of December 31,
2010.
Ms.
Sacco, age 35, has a broad-based knowledge of financial, accounting and
administrative functions of a business. Ms. Sacco has served as Vice
President and Operations Controller of the Company since January
2008. Prior to joining the Company, Ms. Sacco served as vice
president, treasurer and director of financial reporting of Alpharma Inc., where
she worked from October 2002 until January 2008. Alpharma Inc., which
was a public company and is now a wholly-owned subsidiary of King
Pharmaceuticals, Inc., provides a broad range of pharmaceutical and nutritional
products for food producing animals. Ms. Sacco is a certified public
accountant and holds a bachelors degree in accounting from St. Thomas Acquinas
College.
Mr.
Konzelmann has agreed to assist with the transition of his former duties and
responsibilities to Ms. Sacco during the nine month period following his
retirement. In connection with Mr. Konzelmann's retirement and his
agreement to assist the Company with the transition, the Company has agreed to
pay Mr. Konzelmann $168,252 (approximately $18,695 per month), payable ratably
over the 9 month period beginning January 1, 2011, and Mr. Konzelmann will
retain his stock options (the vesting schedule of these options will remain the
same through the Consulting Period (as defined below)).
Mr.
Konzelmann has also agreed to provide certain consulting services to the Company
during the period beginning January 1, 2011 and ending on the later of (i) March
31, 2012 or (ii) the date on which the Company's Form 10-K for fiscal year 2011
is filed (the “Consulting
Period”). Mr. Konzelmann will be paid an hourly fee for the
consulting services provided to the Company.
SIGNATURES
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.
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December
13, 2010
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SMART
BALANCE, INC.
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(registrant)
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By:
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/s/
Alan S. Gever
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Alan
S. Gever
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Executive
Vice President and Chief Financial
Officer
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