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): April 12, 2010
Palm, Inc.
(Exact name of registrant as specified in its charter)
| | | | |
| Delaware | | 000-29597 | | 94-3150688 |
(State or other jurisdiction of incorporation) | | (Commission File Number) | | (I.R.S. Employer Identification Number) |
| | |
| 950 W. Maude Avenue, Sunnyvale, California | | 94085 |
| (Address of principal executive offices) | | (Zip Code) |
(408) 617-7000
Registrant’s telephone number, including area code
N/A
(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 5.02(b) | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers |
On April 12, 2010, Michael R. Abbott, Senior Vice President of Software and Services, submitted his resignation from Palm, Inc. (“Palm” or the “Company”), and his employment with the Company is expected to terminate effective April 23, 2010.
| Item 5.02(e) | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers |
Palm is implementing a retention program for certain key employees, including executive officers. The program includes equity awards and cash bonuses to be earned over a two year period provided that the individuals remain as employees of the Company. As part of this program, Jeffrey P. Devine, Palm’s Senior Vice President of Global Operations, and Douglas C. Jeffries, Palm’s Senior Vice President and Chief Financial Officer, each received a grant of restricted stock units pursuant to Palm’s 2009 Stock Plan and a cash bonus of $250,000.
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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.
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| | | | | | PALM, INC. |
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| Date: April 16, 2010 | | | | | | /s/ MARY E. DOYLE |
| | | | | | Mary E. Doyle |
| | | | | | Senior Vice President, General Counsel and Secretary |
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