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) December 27,
2010
ACORN
ENERGY, INC.
(Exact
name of Registrant as Specified in its Charter)
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Delaware
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0-19771
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22-2786081
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||
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(State
or Other Jurisdiction
|
(Commission
file Number)
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(IRS
Employer
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||
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of
Incorporation)
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Identification
No.)
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4 West Rockland, Montchanin,
Delaware
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19710
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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 (302)
656-1707
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:
o Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
o Soliciting
material pursuant to Rule 14a-2 under the Exchange Act (17 CFR
240.14a-2)
o Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
o Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
Section
5 – Corporate Governance and Management
Item
5.02 Departure of Directors or Certain Officers; Election of
Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain
Officers
On December 27, 2010, the registrant,
Acorn Energy, Inc., granted stock options to Benny Sela, CEO of the Company’s
subsidiary DSIT Solutions Ltd (“DSIT”), and Michael Barth, Chief Financial
Officer of the Company and DSIT. Mr. Sela and Mr. Barth were each
granted non-qualified options exercisable for 10,000 shares of the registrant’s
common stock at an exercise price of $4.09 per share. All of the
options were immediately vested, and will expire on December 28,
2017. Following termination of each of Mr. Sela’s and Mr. Barth’s
employment, the options would remain exercisable (i) for 12 months following an
involuntary termination without cause or a voluntary termination by Mr. Sela or
Mr. Barth, as the case may be, (ii) for 90 days following a termination for
cause, or (iii) for 12 months following death or
disability.
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 on this 30th day
of December, 2010.
| ACORN ENERGY, INC. | |||
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By:
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/s/ Joe B. Cogdell, Jr. | |
| Name: Joe B. Cogdell, Jr. | |||
| Title: Vice President, General Counsel & Secretary | |||