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Attachment 1
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OMB
APPROVAL
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OMB Number:
Expires:
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3235-0060
April 30, 2009
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Estimated
average burden
hours
per
response …5.0
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UNITED
STATES
SECURITIESANDEXCHANGECOMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 OR 15(d) of The Securities Exchange Act of 1934
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Date
of Report (Date of earliest event reported)
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October
6, 2008
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Applied
Nanotech Holdings, Inc.
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(Exact
name of registrant as specified in its
charter)
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TEXAS
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1-11602
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76-0273345
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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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3006
Longhorn Boulevard, Suite 107, Austin, Texas
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78758
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(Address
of principal executive offices)
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(Zip
Code)
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(512)
339 - 5020
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Registrant’s
telephone number, including area
code
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(Former
name or former address, if changed since last
report.)
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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):
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
Effective
immediately, the annual salary for Thomas Bijou, CEO, was adjusted from $300,000
to $224,000, a decrease of $76,000 on an annualized basis. At the same time, the
exercise price on 200,000 of Mr. Bijou’s options was reduced from $1.19 per
share to $0.75 per share, which represented a premium of 50% over the market
price at the time of the price adjustment. No vesting terms were changed on any
options. The maximum benefit that Mr. Bijou can receive at some future date from
this repricing is $88,000. This was done at the request of Mr. Bijou to greater
align his interests with those of the shareholders.
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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Applied
Nanotech Holdings, Inc.
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By: /s/ Douglas P.
Baker
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Date:
October 8, 2008
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Douglas
P. Baker
Chief
Financial Officer
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