Search the web
Welcome, Guest
[Sign Out, My Account]
EDGAR_Online

Quotes & Info
Enter Symbol(s):
e.g. YHOO, ^DJI
Symbol Lookup | Financial Search
WSTL > SEC Filings for WSTL > Form 8-K on 7-Apr-2009All Recent SEC Filings

Show all filings for WESTELL TECHNOLOGIES INC | Request a Trial to NEW EDGAR Online Pro

Form 8-K for WESTELL TECHNOLOGIES INC


7-Apr-2009

Change in Directors or Principal Officers


Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

On April 1, 2009, the Board of Directors of Westell Technologies, Inc. (the "Company") established cash bonus targets and the performance criteria the fiscal year 2010 bonus plan. The following table presents the fiscal 2010 bonus targets for the Company's named executive officers:

                                         Fiscal 2010
Name         Title                       Bonus Target
Amy T.       Senior Vice President and     $112,500
Forster      Chief Financial Officer
Timothy      Chief Executive Officer of    $127,500
Reedy        Conference Plus, Inc.
Christopher  Vice President/General        $112,500
J. Shaver    Manager of Customer Network
             Solutions ("CNS")
Mark Skurla  Vice President of Sales &     $112,500
             Customer Service

For the named executives above, except Mr. Skurla, the bonus is based 50% on achieving revenue metrics and 50% achieving operating income metrics for the Company for fiscal 2010. Mr. Skurla's bonus is based on 50% on achieving revenue metrics and 50% achieving operating income metrics for the CNS business unit. The named executive officers would not be entitled to a payout if established target revenue and operating income metrics are not met. Actual bonus payments may range from 0% to 150% of target levels based on actual revenue or operating income results.

Richard S. Gilbert, the Company's Chief Executive Officer, is entitled to a guaranteed bonus of $250,000 for the fiscal year ending March 31, 2010 pursuant to his employment agreement with the Company.

Additionally, effective April 1, 2009 Christopher Shaver was promoted to Vice President/General Manager of the CNS business unit. Due to the reorganization of responsibilities associated with Mr. Shaver's promotion, Mark Skurla, Vice President of Sales and Customer Service will remain employed by the Company, but no longer serve as an executive officer of the Company as defined by the Securities Exchange Act of 1934.

  Add WSTL to Portfolio     Set Alert         Email to a Friend  
Get SEC Filings for Another Symbol: Symbol Lookup
Quotes & Info for WSTL - All Recent SEC Filings
Sign Up for a Free Trial to the NEW EDGAR Online Pro
Detailed SEC, Financial, Ownership and Offering Data on over 12,000 U.S. Public Companies.
Actionable and easy-to-use with searching, alerting, downloading and more.
Request a Trial      Sign Up Now


Copyright © 2009 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service
SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All information provided "as is" for informational purposes only, not intended for trading purposes or advice. Neither Yahoo! nor any of independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. By accessing the Yahoo! site, you agree not to redistribute the information found therein.