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) June 30, 2013
TASER International, Inc.
(Exact name of registrant as specified in its charter)
| | | | |
| Delaware | | 001-16391 | | 86-0741227 |
(State or other jurisdiction of incorporation) | | (Commission File Number) | | (IRS Employer Identification No.) |
17800 N. 85th St.
Scottsdale, Arizona 85255
(Address of principal executive offices, including zip code)
(480) 991-0797
(Registrant’s telephone number, including area code)
(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:
| ¨ | 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)) |
TABLE OF CONTENTS
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Item 5.02 Departure of Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers | | | 2 | |
Item 9.01 Financial Statements and Exhibits | | | 2 | |
Signature | | | 3 | |
| Exhibit 10.1 | | | | |
| Item 5.02 | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers |
On June 30, 2013, TASER International, Inc. (the “Company”) adopted the TASER International, Inc. Deferred Compensation Plan (the “Plan”) effective July 1, 2013. The Plan allows eligible participants to defer up to 80% of their base salary and up to 100% of other types of compensation. The Plan also allows for (i) matching and discretionary employer contributions and (ii) the deferral of vested RSU awards. Employee deferrals are deemed 100% vested upon contribution. The Company’s matching contribution vests in accordance with the vesting schedule in the Company’s qualified plan and discretionary contributions vest in accordance with the schedule determined by the Committee at the time of contribution. Distributions from the Plan will be made upon retirement, death, separation of service, specified date or upon the occurrence of an unforeseeable emergency. Distributions can be paid in a variety of forms from lump sum to installments over a period of years, depending on the reason for distribution.
Participants in the Plan will be entitled to select from a wide variety of investments available under the Plan and will be allocated gains or losses based upon the performance of the investments selected by the Participant. All gains or losses are allocated fully to plan participants and the Company does not guarantee a rate of return on deferred balances. Participants have no rights or claims to with respect to any Plan assets and any such assets are subject to the claims of the Company’s general creditors.
The foregoing description is qualified in its entirety by reference to the Plan, a copy of which is filed as an exhibit to this Current Report on Form 8-K and is incorporated by reference herein.
| Item 9.01 | Financial Statements and Exhibits |
(d) Exhibits
| | |
| 10.1 | | TASER International, Inc. Deferred Compensation Plan |
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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.
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| Dated: July 12, 2013 | | | | TASER International, Inc. |
| | | |
| | | | By: | | /s/ DANIEL BEHRENDT |
| | | | | | Daniel Behrendt |
| | | | | | Chief Financial Officer |
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