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 13, 2006
OmniVision Technologies, Inc.
(Exact name of Registrant as specified in its charter)| | | | | |
| Delaware | | 000-29939 | | 77-0401990 |
| |
(State or other jurisdiction of
incorporation or organization) | | (Commission File Number) | | (I.R.S. Employer
Identification Number) |
1341 Orleans Drive
Sunnyvale, California 94089-1136
(Address of principal executive offices) (408) 542-3000
(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 (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(b) under the Exchange Act (17 CFR 240.14a-12(b))
[ ] 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
Section 1 – Registrant’s Business and Operations
Item 1.01 Entry into a Material Definitive Agreement.
On June 13, 2006, the Compensation Committee (the “Committee”) of the Board of Directors of OmniVision Technologies, Inc. (“OmniVision”) approved the payment of cash bonuses under OmniVision’s Executive Officer Profit Sharing/Bonus Plan (the “Plan”) for the fiscal quarter and year ended April 30, 2006. The bonuses are consistent with the terms of the Plan and will be paid to the following executive officers of OmniVision:
| | | | | | |
| |
| | Name of Officer | | | Cash Bonus Amount | |
| | Shaw Hong | | | $23,000 | |
| | Raymond Wu | | | $21,000 | |
| | Xinping He | | | $21,000 | |
| | Y. Vicky Chou | | | $19,000 | |
| | John Yue | | | $14,000 | |
| |
On June 13, 2006, the Committee also approved an increase in the annual base salary for the following executive officers of OmniVision:
| | | | | | | | | | | | |
| |
| | Name of Officer | | | Previous Annual | | | New Annual Base | | | Effective Date | |
| | | | | Base Salary | | | Salary | | | | |
| | Shaw Hong | | | $425,000 | | | $450,000 | | | 7/1/2006 | |
| | Raymond Wu | | | $280,000 | | | $300,000 | | | 7/1/2006 | |
| | Xinping He | | | $260,000 | | | $300,000 | | | 7/1/2006 | |
| | Y. Vicky Chou | | | $240,000 | | | $280,000 | | | 7/1/2006 | |
| | John Yue | | | $200,000 | | | $220,000 | | | 7/1/2006 | |
| |
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.
Dated: June 19, 2006
| | | | | |
| | OmniVision Technologies, Inc.
| |
| | By: | /s/ SHAW HONG | |
| | | Shaw Hong | |
| | | President and Chief Executive Officer | |
| |
