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ARIS > SEC Filings for ARIS > Form 8-K on 8-Nov-2012All Recent SEC Filings

Show all filings for ARI NETWORK SERVICES INC /WI



Change in Directors or Principal Officers, Other Events, Financial S

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

On November 6, 2012, the Board of Directors of ARI Network Services, Inc. (the "Company") appointed Robert Y. Newell IV as a member of the Company's Board, to hold office until the Company's Annual Meeting of Shareholders in January, 2014 and until his successor is elected. Mr. Newell will join the Audit Committee of the Board.

As a non-employee director of the Company, Mr. Newell will participate in the same compensation arrangements as the other non-employee directors of the Company, which currently consists of a cash retainer of $22,000 per year and an annual grant of an option to purchase shares of the Company's common stock as determined by the Compensation Committee of the Company's Board. In addition, in connection with his appointment, Mr. Newell was granted an option to purchase 10,000 shares of the Company's common stock under the Company's 2010 Equity Incentive Plan. This option will become exercisable as to 50% of the shares on July 31, 2013 and as to the remaining 50% of the shares on July 31, 2014.

Item 8.01. Other Events.

On November 8, 2012, the Company announced the appointment of Mr. Newell to the Company's Board of Directors, as described in Item 5.02 above. The press release issued by the Company is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits

Exhibit No Description

99.1 Press Release dated November 8, 2012

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