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):September 1, 2016
Concurrent Computer Corporation
(Exact Name of Registrant as Specified in its Charter)
| Delaware | 001-37706 | 04-2735766 |
| (State or Other | (Commission | (IRS Employer |
| Jurisdiction | File Number) | Identification Number) |
| of Incorporation) | | |
| 4375 River Green Parkway, Suite 100, Duluth, Georgia | 30096 |
| (Address of Principal Executive Offices) | (Zip Code) |
Registrant’s telephone number, including area code: (678) 258-4000
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 1.01. Entry into a Material Definitive Agreement
On September 1, 2016, Concurrent Computer Corporation (the “Company”) entered into an amendment (the “Amendment”) to the employment agreement, dated November 18, 2014 and amended as of October 15, 2015 (the “Employment Agreement”), between the Company and Derek Elder, the Company’s Chief Executive Officer. Pursuant to the terms of the Amendment, the Company increased Mr. Elder’s annual bonus opportunity percentage from 65% to 70%. The other provisions of the Employment Agreement remained unchanged.
The description above is qualified in its entirety by reference to the text of the Amendment, which is included as Exhibit 10.1 hereto and incorporated herein by reference.
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
The information disclosed in response to Item 1.01 above is incorporated herein by reference.
In addition, on September 2, 2016, the Company paid to Mr. Elder a discretionary bonus of $100,000, less applicable tax withholdings, provided that in the event that Mr. Elder terminates his employment with the Company prior to June 30, 2017 for any reason other than death or disability, then Mr. Elder shall repay to the Company the sum of $100,000 not later than seven (7) days following the his termination of employment.
Item 9.01. Financial Statements and Exhibits.
| 10.1 | Amendment to Employment Agreement, dated September 1, 2016, by and between Concurrent Computer Corporation and Derek Elder. |
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.
| | CONCURRENT COMPUTER CORPORATION |
| | (Registrant) |
| | | |
| | | |
| Dated: September 2, 2016 | By: | /s/ Davina Furnish |
| | | Davina Furnish |
| | | Corporate Secretary |
EXHIBIT INDEX
| Exhibit No. | Description |
| 10.1 | Amendment to Employment Agreement, dated September 1, 2016, by and between Concurrent Computer Corporation and Derek Elder. |
