Attached files
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EX-10.1 - EX-10.1 - BigBand Networks, Inc. | f58411exv10w1.htm |
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
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
PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED)
February 16, 2011
February 16, 2011
BigBand Networks, Inc.
(Exact name of registrant as specified in its charter)
Delaware (State or other jurisdiction of incorporation) |
001-33355 (Commission File Number) |
04-3444278 (I.R.S. Employer Identification No.) |
475 Broadway Street
Redwood City, California 94063
(Address of principal executive offices) (Zip code)
Redwood City, California 94063
(Address of principal executive offices) (Zip code)
(650) 995-5000
Registrants telephone number, including area code
Registrants telephone number, including area code
Not Applicable
(Former name or former address if changed since last report)
(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:
o | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
o | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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)) |
Item 5.02. | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
On February 16, 2011, the Compensation Committee adopted and approved the performance criteria
and associated potential awards for the six months ending June 30, 2011 under the Companys
Incentive Compensation Plan (ICP) for the Companys executive officers, including its named
executive officers who participate in the ICP. Under the ICP, target bonuses are expressed as a
percentage of the executives base salary. Participants are required to submit a set of achievement
goals at the beginning of each six-month period, with such goals to be approved by the Compensation
Committee. The participant is then compensated under the ICP based on their achievement against
these goals. Final payouts on the bonus amount will be determined by multiplying (x) the
semi-annual bonus target (50% of the total bonus target amount each half) by the percentage
achievement of pre-determined group goals plus the percentage achievement of pre-determined
individual goals. For the first half of 2011, all ICP payments shall be made in the form of
restricted stock units on the following formula: first half bonus achievement divided by $2.70 per
restricted stock unit.
Because the amount of a participants ICP bonus is dependent upon the satisfaction of the both
group and individual goals, the exact amount of the payout (if any) to an executive under the
program during the six months ending June 30, 2011 cannot be determined at this time. A description
of the performance criteria, the potential fiscal year awards and the satisfaction of performance
criteria and associated awards for the first half of the fiscal year for the Companys named
executive officers who participate in the ICP is attached hereto as Exhibit 10.1.
Item 9.01. | Financial Statements and Exhibits. |
(d) | Exhibits |
Exhibit | Description | |||
10.1 | Description of First Half 2011 Incentive Compensation Plan Goals and Awards for the Named Executive Officers |
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 hereunto duly authorized.
BIGBAND NETWORKS, INC. |
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By: | /s/ Robert Horton | |||
Robert Horton | ||||
Senior Vice President & General Counsel | ||||
Dated: February 22, 2011