8-K: Current report filing
Published on September 18, 2006
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
September
12, 2006
Date
of Report (Date of earliest event reported)
EMCORE
CORPORATION
Exact
Name of Registrant as Specified in its Charter
|
New
Jersey
|
0-22175
|
22-2746503
|
|
State
of Incorporation
|
Commission
File Number
|
IRS
Employer Identification Number
|
145
Belmont Drive, Somerset, New Jersey, 08873
Address
of principal executive offices, including zip code
(732)
271-9090
Registrant's
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:
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
1.01 ENTRY
INTO A MATERIAL DEFINITIVE AGREEMENT.
On
September 12, 2006, the Compensation Committee of the Board of Directors (the
“Committee”) of EMCORE, acting upon the recommendation of EMCORE’s Chief
Executive Officer, approved the allocation of amounts to be paid under a
supplemental bonus pool for executive officers that was previously authorized
by
the Committee and disclosed in EMCORE’s Form 8-K filed with Commission on May
17, 2006. The payments were approved based on the attainment of certain
strategic corporate milestones, including EMCORE’s completion of the sale of its
membership interest in GELcore, LLC to General Electric Corporation for $100
million and the sale of its Electronic Materials & Device division to IQE
RF, LLC for $16 million, consisting of $13 million at closing and $3 million
in
the form of a secured promissory note of IQE that will be repaid in four
quarterly installments and bears interest at an annual rate of 7.5%.
The
Committee approved the following payments to be made under the supplemental
bonus pool:
|
Name
|
Title
|
Amount
|
|
Reuben
F. Richards, Jr.
|
Chief
Executive Officer
|
$255,000
|
|
Howard
W. Brodie
|
Chief
Legal Officer
|
$115,000
|
|
Thomas
G. Werthan
|
Chief
Financial Officer
|
$115,000
|
|
Richard
A. Stall
|
Chief
Technology Officer
|
$115,000
|
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.
|
|
EMCORE
CORPORATION
|
|
Dated:
September 18, 2006
|
By: /s/
Thomas G. Werthan
Name:
Thomas G. Werthan
Title:
Chief Financial Officer
|