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

Quotes & Info
Enter Symbol(s):
e.g. YHOO, ^DJI
Symbol Lookup | Financial Search
RELL > SEC Filings for RELL > Form 8-K on 5-Dec-2012All Recent SEC Filings

Show all filings for RICHARDSON ELECTRONICS LTD/DE | Request a Trial to NEW EDGAR Online Pro

Form 8-K for RICHARDSON ELECTRONICS LTD/DE


5-Dec-2012

Change in Directors or Principal Officers, Regulation FD Disclosure


Item 5.02 Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers.

On December 3, 2012, Richardson Electronics, Ltd. ("the Company") announced that Sandeep Beotra has been appointed as the company's Executive Vice President, Mergers and Acquisitions. He will report directly to Edward J. Richardson, Chairman of the Board and Chief Executive Officer.

Mr. Beotra spent the past eleven years with Morgan Joseph Triartisan LLC, a middle market investment banking firm, where he most recently served as Managing Director covering Technology and Telecommunications. Mr. Beotra received an MBA in Finance from the University of Maryland and earned his undergraduate degree from the Indian Institute of Technology (IIT) in Electronics and Communication Engineering.

The Company and Mr. Beotra entered into an Employment, Nondisclosure and Non-compete Agreement on December 3, 2012 (the "Employment Agreement"). Under the Employment Agreement, Mr. Beotra's initial base salary will be $325,000 per year. Mr. Beotra will be granted a non-qualified option to purchase 25,000 shares of the Company's common stock and a restricted stock award for 10,000 shares of the Company's common stock. The option will have an exercise price equal to the fair market value of the Company's common stock at the close of business on December 3, 2012, and both the option and restricted stock award will vest in three substantially equal annual installments. Mr. Beotra will be entitled to participate in the Company's annual cash incentive plan with a target annual incentive bonus equal to 50% of his annual base salary. Mr. Beotra will also participate in other benefit plans offered to executive officers of the Company.

Under the Employment Agreement, Mr. Beotra agrees not to compete with the Company during the term of his employment and for a period of six months thereafter.

A form of the Employment Agreement is filed herewith as Exhibit 10.1. The foregoing description of the Employment Agreement is not complete and is qualified in its entirety by reference to Exhibit 10.1, which is incorporated herein by reference.



Item 7.01 Regulation FD Disclosure.

The Company issued a press release announcing the employment of Mr. Beotra on December 3, 2012. A copy of the press release is furnished as Exhibit 99.1 and incorporated herein by reference.



Item 9.01 Financial Statements and Exhibits

Exhibit 10.1    Form of Employment, Nondisclosure and Non-compete Agreement between
                the Company and Sandeep Beotra dated as of December 3, 2012.

Exhibit 99.1    Press Release announcing the appointment of Sandeep Beotra as the
                Company's Executive Vice President, Mergers and Acquisitions.


  Add RELL to Portfolio     Set Alert         Email to a Friend  
Get SEC Filings for Another Symbol: Symbol Lookup
Quotes & Info for RELL - 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 © 2013 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.