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Quotes & Info
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| STEC > SEC Filings for STEC > Form 8-K on 3-Dec-2012 | All Recent SEC Filings |
3-Dec-2012
Change in Directors or Principal Officers
(e) Compensatory Arrangements
On November 29, 2012, the Compensation Committee of the Board of Directors of STEC, Inc. ("STEC") approved the voluntary offer by Mr. Mark Moshayedi, President and Chief Executive Officer, and Mr. Manouch Moshayedi, Founder, to reduce their respective annual base salaries to $1.00, effective December 1, 2012. This reduction to base compensation does not affect any other compensatory arrangements that Messrs. Mark and Manouch Moshayedi have with STEC and does not impact their non-salary compensation and benefits.
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