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TIGR > SEC Filings for TIGR > Form 8-K on 3-Apr-2013All Recent SEC Filings

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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.

(e) On Saturday, March 30, 2013, the Compensation Committee of the Board of Directors of TigerLogic Corporation (the "Company") approved the payment of discretionary cash bonuses to Richard W. Koe, the Company's President and Chief Executive Officer, and Thomas G. Lim, the Company's Chief Financial Officer, in the amount of $40,000 each; and to John H. Bramley, the Company's Vice President of Operations, in the amount of $30,000. The bonuses were approved in connection with the Compensation Committee's evaluation of each individual officer's performance and the Company's overall performance for the fiscal year ended March 31, 2013.

In addition, also on March 30, 2013, the Compensation Committee of the Board of Directors approved stock option awards to Mr. Lim and Mr. Bramley to purchase up to 50,000 shares and 100,000 shares, respectively, of the Company's common stock under the Company's 2009 Equity Incentive Plan and a standard of form of agreement thereunder. In accordance with the Company's policy, the grant date for these options is April 1, 2013 and the exercise price is $1.92 per share, which is the market closing price of the Company's common stock on April 1, 2013. The shares subject to the options vest monthly over a two year period.

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