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): December 12, 2008
HITTITE MICROWAVE CORPORATION
(Exact Name of Registrant as Specified in Charter)
Delaware |
| 000-51448 |
| 04-2854672 |
(State or other jurisdiction |
| (Commission |
| (IRS Employer |
20 Alpha Road, Chelmsford, Massachusetts 01824
(Address of principal executive offices) (Zip Code)
(978) 250-3343
(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 (see General Instruction A.2. below).
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 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
The Compensation Committee of our Board of Directors has authorized discretionary year-end awards of restricted stock to our executive officers, effective on December 12, 2008. Each award vests over five years, with one-third vesting on the third anniversary of the date of grant and the balance vesting on the fifth anniversary of grant.
We also increased the rates of salary for our executive officers for 2009 and awarded discretionary cash bonuses to our executive officers for 2008.
The 2009 salaries, and the discretionary cash bonuses and restricted stock awards for 2008 for our executive officers are as follows:
|
| Title |
| 2009 Salary |
| 2008 |
| 2008 | ||
Stephen G. Daly |
| Chief Executive Officer |
| $ | 315,000 |
| $ | 80,000 |
| 30,000 shares |
William W. Boecke |
| Chief Financial Officer |
| 230,000 |
| 55,000 |
| 20,000 shares | ||
Norman G. Hildreth, Jr. |
| Vice President, Sales and Marketing |
| 230,000 |
| 55,000 |
| 20,000 shares | ||
Michael A. Olson |
| Vice President, Engineering |
| 210,000 |
| 30,000 |
| 20,000 shares | ||
Brian J. Jablonski |
| Vice President, Operations |
| 212,000 |
| 35,000 |
| 15,000 shares | ||
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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 thereunto duly authorized.
| HITTITE MICROWAVE CORPORATION | |
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| By: | /s/ Stephen G. Daly |
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| Stephen G. Daly |
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| Chief Executive Officer |
Date: December 18, 2008
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