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
February 6, 2006
Date of Report (Date of earliest event reported)
iBASIS, INC.
(Exact Name of Registrant as Specified in Charter)
DELAWARE |
| 0-27127 |
| 04-3332534 |
(State or Other Jurisdiction |
| (Commission |
| (IRS Employer |
20 Second Avenue, Burlington, MA 01803
(Address of Principal Executive Offices) (Zip Code)
(781) 505-7500
(Registrant’s telephone number, including area code)
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:
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 1.01. Entry into a Material Definitive Agreement.
On February 6, 2006, the Compensation Committee and the Board of Directors, taking into consideration the Corporation’s performance over the previous year, and the Committee’s recommendation for bonuses as a function of fourth quarter 2005 and full year 2005 performance, voted to pay bonuses to named non-commissioned executive officers. The amounts, which were expensed in 2005, are as follows: Mr. Ofer Gneezy, Chief Executive Officer, $87,500; Dr. Gordon VanderBrug, Executive Vice President, $80,500; Mr. Richard Tennant, Chief Financial Officer and Vice President Finance and Administration, $59,500; and Mr. Paul Floyd, Senior Vice President of Research & Development, Engineering and Operations, $35,000.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the Company has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: February 8, 2006 | iBASIS, INC. | |||
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| By: | /s/ Richard Tennant |
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| Richard Tennant | ||
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| Vice President, Finance and Administration | ||
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| And Chief Financial Officer | ||
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| (Principal Financial and Accounting Officer) | ||
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