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):  June 18, 2012


Network Equipment Technologies, Inc.

(Exact name of registrant as specified in its charter)


 

 

 

 

 

Delaware

 

001-10255

 

94-2904044

(State of incorporation)

 

(Commission File Number)

 

(IRS Employer ID No.)


6900 Paseo Padre Parkway, Fremont, California 94555 ph: (510) 713-7300

(Address of principal executive offices, including zip code, and telephone number, including area code)


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):

 

[  ]

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 June 18, 2012, the Compensation Committee of the Board of Directors approved a contingent payment for Karen Carte, Vice President, Finance, Chief Accounting Officer, and acting Chief Financial Officer, in connection with a special retention and performance incentive program previously approved for certain designated employees. Under this program, which is supplemental to existing change-of-control agreements, Ms. Carte would receive a cash payment of $30,000 upon consummation of a change in control of the company prior to December 31, 2012.

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.

Date: June 19, 2012

 

 

 

Network Equipment Technologies, Inc.

 

 

By:

/s/  DAVID WAGENSELLER

Name:

David Wagenseller

Title:

President and Chief Executive Officer