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

Quotes & Info
Enter Symbol(s):
e.g. YHOO, ^DJI
Symbol Lookup | Financial Search
RALY > SEC Filings for RALY > Form 8-K on 30-Sep-2013All Recent SEC Filings

Show all filings for RALLY SOFTWARE DEVELOPMENT CORP | Request a Trial to NEW EDGAR Online Pro

Form 8-K for RALLY SOFTWARE DEVELOPMENT CORP


30-Sep-2013

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 September 25, 2013, Mr. Don Hazell resigned from his position as Executive Vice President, Strategic Accounts of Rally Software Development Corp. (the "Company"). Mr. Hazell's last day with the Company will be October 31, 2013.

The Company and Mr. Hazell are in the process of negotiating a separation agreement and release. If Mr. Hazell and the Company enter into such an agreement, a brief description of the terms and conditions of the agreement will be disclosed in a future Form 8-K filing.

On September 25, 2013, the Compensation Committee of the Company's Board of Directors approved the adoption of the Company's Fiscal Year 2014 Metric Based Bonus Plan (the "Plan"). The Plan will be effective from August 1, 2013 through January 31, 2014. The Plan benefits all of the Company's executive officers and certain other employees that are designated as participants in the Plan. The Plan provides for quarterly formula-based incentive payments. The amount of the incentive payment for the third quarter and the fourth quarter of fiscal 2014 is determined based on the amount of the Company's total sales bookings for each quarter. No payment will be made if the total sales bookings metric for the applicable quarter does not equal 90% of the target amount. Total payment under the Plan will not exceed 150% of the target payout under the Plan. To be eligible for a quarterly payment under the Plan, a participant must be employed as of the first day and the last day of the applicable quarter.

Timothy A. Miller, the Company's President, Chief Executive Officer and Chairman, is eligible to receive a target incentive payment under the Plan of $58,500 for each of the third quarter and fourth quarter of fiscal 2014. James M. Lejeal, the Company's Chief Financial Officer, Treasurer and Secretary is eligible to receive a target incentive payment under the Plan of $15,500 for each of the third quarter and fourth quarter of fiscal 2014. Ryan A. Martens, the Company's Chief Technology Officer, is eligible to receive a target incentive payment under the Plan of $14,750 for each of the third quarter and fourth quarter of fiscal 2014. Mr. Hazell is eligible to receive a target incentive payment under the Plan of $13,750 for the third quarter of fiscal 2014.

A copy of the Plan will be filed as an exhibit to the Company's next quarterly report on Form 10-Q.


  Add RALY to Portfolio     Set Alert         Email to a Friend  
Get SEC Filings for Another Symbol: Symbol Lookup
Quotes & Info for RALY - 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 © 2014 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.