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): June 15, 2010
SYMMETRICOM, INC.
(Exact name of Registrant as Specified in its Charter)
| Delaware | 000-02287 | 95-1906306 | ||
(State or other jurisdiction of incorporation) | (Commission File Number) | (I.R.S. Employer Identification No.) |
2300 Orchard Parkway
San Jose, California 95131-1017
(Address of Principal Executive Offices)
(408) 433-0910
(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 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 June 15, 2010, Dr. Bruce Bromage, Executive Vice President and General Manager of the Government Business Unit of Symmetricom, Inc. (the “Company”) informed us of his intention to retire from the Company. Dr. Bromage is expected to depart from the Company on August 31, 2010 and will resign as an officer of the Company immediately.
In connection with Dr. Bromage’s departure, he will receive the following benefits: (i) his base salary for 10 months, (ii) his target annual bonus for fiscal year 2010, and (iii) health benefits for Dr. Bromage and his dependents for up to 10 months.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Date: June 17, 2010 | SYMMETRICOM, INC. | |||||
| By: | /s/ Justin Spencer | |||||
| Name: | Justin Spencer | |||||
| Title: | Executive Vice President, Chief Financial Officer and Secretary | |||||