UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 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 20, 2011
MERU NETWORKS, INC.
(Exact Name of Registrant as Specified in its Charter)
| | | | |
| Delaware | | 001-34659 | | 26-0049840 |
(State or Other Jurisdiction of Incorporation) | | (Commission File Number) | | (IRS Employer Identification No.) |
| | |
894 Ross Drive Sunnyvale, California | | 94089 |
| (Address of Principal Executive Offices) | | (Zip Code) |
Registrant’s telephone number, including area code: (408) 215-5300
Not Applicable
(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:
| ¨ | 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.
On April 20, 2011, the Compensation Committee (the “Committee”) of Meru Networks, Inc. approved the following salaries for the Company’s executive officers, effective as of January 1, 2011:
| | | | | | |
Title | | Executive Officer | | Base Salary for 2011 | |
President and Chief Executive Officer | | Ihab Abu-Hakima | | $ | 364,000 | |
Chief Technology Officer | | Dr. Vaduvur Bharghavan | | $ | 318,000 | |
Chief Financial Officer | | Brett White | | $ | 295,000 | |
Senior Vice President of Corporate Development and Strategy | | Kamal Anand | | $ | 262,000 | |
Vice President, General Counsel | | Richard Mosher | | $ | 240,000 | |
None of the above-named executive officers received a base salary adjustment in 2010.
At the same meeting the Committee adopted the 2011 bonus plan for executive officers. The 2011 bonus plan is substantially similar to the 2010 bonus plan for executive officers, but based on the Company’s operating plan for 2011 and with the addition of an opportunity for a midyear pro-rated progress payment based on achievement of midyear performance targets.
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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| | | | MERU NETWORKS, INC. |
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| Date: April 26, 2011 | | | | By: | | /s/ Brett T. White |
| | | | | | Name: Brett T. White |
| | | | | | Title: Chief Financial Officer |
