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):March 22, 2016
Crossroads Systems, Inc.
(Exact Name of Registrant as Specified in Its Charter)
| Delaware | 001-15331 | 74-2846643 | ||
| (State or other Jurisdiction of Incorporation) | (Commission File Number) | (IRS Employer Identification No.) |
| 11000 North MoPac Expressway #150, Austin, Texas | 78759 | |
| (Address of Principal Executive Offices) | (Zip Code) |
Registrant’s telephone number, including area code:(512) 349-0300
(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 follow 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))
| Item 5.02. | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
As previously disclosed, on March 22, 2016, Crossroads Systems, Inc. (the “Company”) announced the closing of a Purchase and Assignment Agreement with StrongBox Data Solutions, Inc. (“Acquirer”) for the sale and transfer of all of the assets related to the Company’s product and support services division (the “Transaction”). Effective as of the closing of the Transaction, David Cerf, the Company’s Executive Vice President of Business and Corporate Development, and Brian Bianchi, the Company’s Chief Operating Officer, resigned from their respective positions with the Company and became employees of Acquirer.
SIGNATURES
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.
| CROSSROADS SYSTEMS, INC. | ||||
| Dated: March 24, 2016 | By: | /s/ Richard K. Coleman, Jr. | ||
| Name: | Richard K. Coleman, Jr. | |||
| Title: | President and Chief Executive Officer | |||