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

Quotes & Info
Enter Symbol(s):
e.g. YHOO, ^DJI
Symbol Lookup | Financial Search
MXWL > SEC Filings for MXWL > Form 8-K on 9-May-2014All Recent SEC Filings

Show all filings for MAXWELL TECHNOLOGIES INC

Form 8-K for MAXWELL TECHNOLOGIES INC


9-May-2014

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.

(d) On May 6, 2014, the Board of Directors (the "Board") of Maxwell Technologies, Inc. (the "Company") appointed Dr. Franz Fink, the Company's President and Chief Executive Officer, to serve as a Class I director until the 2015 Annual Meeting of Stockholders or until his successor is duly elected and qualified. Such appointment was pursuant to Dr. Fink's recent employment agreement with the Company.
(e) On May 5, 2014, the Compensation Committee of the Board (the "Committee") approved a series of restricted stock units ("RSUs") under the Company's 2013 Omnibus Equity Incentive Plan to John J. Warwick, our Chief Operating Officer, and Kevin S. Royal, our Chief Financial Officer. Mr. Warwick received 15,000 RSUs that vest in equal annual installments over four years of his continuous service, and an additional award of 15,000 RSUs that vest based on the achievement of certain financial metrics to be established by the Committee. Mr. Royal received 10,000 RSUs that vest in equal annual installments over four years of his continuous service, and an additional award of 10,000 RSUs that vest based on the achievement of certain financial metrics to be established by the Committee. In addition, Mr. Warwick was granted 20,000 RSUs that vest based on the Company's common stock having a closing price per share of at least $30 for 60 consecutive business days during the period from May 1, 2015 through April 30, 2017 (the "30/60 Award"). In order to vest in the 30/60 Award, Mr. Warwick must remain employed through April 30, 2017. However, the 30/60 Award will also vest upon a change in control in which the Company's stockholders receive at least $30 per share in cash and stock consideration. Finally, the Committee approved a one-time spot bonus of $200,000 to Mr. Warwick in recognition of his successful completion of service as our interim Chief Executive Officer.
Item 5.07. Submission of Matters to a Vote of Security Holders. The Annual Meeting of Stockholders of Maxwell Technologies, Inc. ("Annual Meeting") was held on May 6, 2014. At the meeting, stockholders elected two Class III directors to serve on the Board of Directors until the 2017 Annual Meeting of the Stockholders or until their successors have been duly elected and qualified.
The two directors elected at the meeting were Robert Guyett and Yon Yoon Jorden. The votes cast for the two elected directors were as follows:

Name              Votes For   % Voted For   Votes Withheld  % Withheld
Robert Guyett     13,067,873    79.61%        3,346,940       20.39%
Yon Yoon Jorden   12,443,799    75.81%        3,971,014       24.19%

The second matter voted on by the stockholders of the Company was the ratification of the appointment of BDO USA LLP as the Company's independent auditors for the 2014 fiscal year. The appointment was ratified and the votes cast were as follows:
Votes For Votes Against Abstain
18,819,111 55,613 4,570,006

The third matter voted on by the stockholders of the Company was an advisory vote to approve the compensation of the named executive officers of the Company. The resolution was approved with approximately 77.33% of the votes cast at the Annual Meeting voting in favor of the advisory resolution. The votes cast were as follows:
Votes For Votes Against Abstain Broker Non-Votes 12,693,621 877,241 2,843,951 7,029,917


  Add MXWL to Portfolio     Set Alert         Email to a Friend  
Get SEC Filings for Another Symbol: Symbol Lookup
Quotes & Info for MXWL - All Recent SEC Filings
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.