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) October 27, 2009
WaferGen Bio-systems, Inc.
(Exact name of registrant as specified in its charter)
Nevada | 333-136424 | 20-3699764 |
(State or other jurisdiction | (Commission | (IRS Employer |
of incorporation) | File Number) | Identification No.) |
Bayside Technology Center | ||
46531 Fremont Blvd. | ||
Fremont, CA | 94538 | |
(Address of principal executive offices) | (Zip Code) |
(510) 651-4450
(Registrant’s telephone number, including area code)
[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 (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 | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
On October 27, 2009, the Company’s Board of Directors elected Robert Coradini as a director of the Company. At this time Mr. Coradini will not serve on any committee of the Board of Directors.
As a director of the Company, Mr. Coradini will receive the same compensation as other non-employee directors, namely:
· | Each non-employee director receives an initial option grant (the “Initial Grant”) of 40,000 stock options upon the director’s appointment to Board, with 50% of the options vested upon grant and the remaining 50% of the options vesting over one year with 25% of the options vesting every three months; and | |
· | Immediately following each annual meeting of the Company’s stockholders, each non-employee director who continues as a non-employee director following such annual meeting shall receive an award of 15,000 stock options (the “Subsequent Grant”) vesting over one year, with 25% of the option vesting every three months; provided that no Subsequent Grant shall be made to any non-employee director who has not served as a director of the Company, as of the time of such annual meeting, for at least six (6) months. |
Each Initial Grant and each Subsequent Grant shall provide that in the event of a change in control of the Company, such option shall automatically become fully vested and no longer subject to forfeiture immediately prior to the specified effective date of such change in control. The exercise price for all Initial Grants and Subsequent Grants shall be the fair market value of the Company’s Common Stock in accordance with the terms of the Company’s stock incentive plan.
The Company issued a press release in connection with the election of Mr. Coradini as a director, as well as other leadership changes. A copy of this press release, which provides additional information about Mr. Coradini’s background and experience, is filed as Exhibit 99.1 hereto.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits
Exhibit No. | Exhibit Description |
99.1 | Press Release dated October 28, 2009 |
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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.
WaferGen Bio-systems, Inc. | ||
Date: November 2, 2009 | By: | /s/ Alnoor Shivji |
Name: Alnoor Shivji | ||
Title: Chief Executive Officer |
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EXHIBIT INDEX
Exhibit No. | Exhibit Description |
99.1 | Press Release dated October 28, 2009 |
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