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CYMI > SEC Filings for CYMI > Form 8-K on 15-Mar-2013All Recent SEC Filings

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Form 8-K for CYMER INC


15-Mar-2013

Change in Directors or Principal Officers, Financial Statements and Exhibits


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

(e) On March 12, 2013, the Compensation Committee of our Board of Directors ("Compensation Committee") approved our Long-Term Incentive Bonus Program ("LTIP") for 2013, and individual equity awards under the LTIP for 2013. The equity awards are comprised of performance restricted stock unit ("PRSU") awards and restricted stock unit ("RSU") awards. The shares subject to the PRSU awards are subject to adjustment based on the level of our achievement of certain financial performance measures during 2013. The adjusted number of shares, if any, vest and become issuable in three equal installments with the initial installment vesting upon the later of the determination of our level of achievement or March 12, 2014 and the second and third installments vesting on March 12, 2015 and 2016, respectively. The shares subject to the RSU awards vest and become issuable in three equal annual installments beginning March 12, 2014.

The awards granted to our named executive officers are as follows:

                                                        Number of       Number of
   Executive Officer                                    PRSUs (1)         RSUs
   Robert P. Akins                                          11,032          11,031
   Chairman of the Board and Chief Executive Officer
   Edward J. Brown, Jr.                                      8,274           8,273
   President and Chief Operating Officer
   Thomas J. Bondur                                          1,250           1,252
   Vice President, Global Sales and Marketing

(1) Represents a target number of shares subject to the PRSUs assuming we achieve 100% of the applicable performance measures approved by the Compensation Committee. The number of shares subject to a PRSU award may increase or decrease based upon actual performance against the applicable performance measures.



Item 9.01. Financial Statements and Exhibits.

(d) Exhibits

99.1 Summary description of Cymer, Inc. 2013 Long-Term Incentive Program.


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