UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
Current Report Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): August 9, 2009
Dot Hill Systems Corp.
(Exact name of registrant as specified in its charter)
| Delaware | 1-13317 | 13-3460176 | ||
(State or other jurisdiction of incorporation) | (Commission File Number) | (I.R.S. Employer Identification No.) |
| 2200 Faraday Avenue, Suite 100, Carlsbad, CA | 92008 | |
| (Address of principal executive offices) | (Zip Code) |
Registrant’s telephone number, including area code: (760) 931-5500
Not applicable.
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
| ¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
| Item 8.01 | Other Events. |
As consideration for his services as the sole member of the Operations Committee of our Board of Directors and as payment for services as a director in such capacity, on August 9, 2009, the Compensation Committee of our Board of Directors approved additional director compensation for Charles F. Christ, in the form of a one-time award valued at $168,750, consisting of a grant of 70,000 shares of restricted stock, effective August 13, 2009, and a cash payment equal to the difference between $168,750 and the value of the 70,000 shares of restricted stock based upon the closing price for our common stock on the Nasdaq Stock Market on August 13, 2009. Subject to his continued service to us, 25% of the restricted stock vests on each of the first, second, third and fourth anniversaries of the date of grant, such that the restricted stock will be fully vested four years from the date of grant.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| DOT HILL SYSTEMS CORP. | ||
| By: | /s/ Hanif I. Jamal | |
| Hanif I. Jamal | ||
| Senior Vice President, Chief Financial Officer and Secretary | ||
Date: August 13, 2009 |