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) November 7, 2011
ACORN ENERGY, INC.
(Exact name of Registrant as Specified in its Charter)
| Delaware | 0-19771 | 22-2786081 | ||
| (State or Other Jurisdiction | (Commission file Number) | (IRS Employer | ||
| of Incorporation) | Identification No.) |
| 4 West Rockland, Montchanin, Delaware | 19710 | |
| (Address of Principal Executive Offices) | (Zip Code) |
Registrant’s telephone number, including area code (302) 656-1707
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-2 under the Exchange Act (17 CFR 240.14a-2) |
| ¨ | 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)) |
Section 5 – Corporate Governance and Management
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
On November 7, 2011, the Board of Directors (the “Board”) of the registrant, Acorn Energy, Inc., approved restoration of the amount of John A. Moore’s base salary to $375,000 per annum effective November 1, 2011 (an increase of $75,000 after Mr. Moore, Chairman of the Board, President and Chief Executive Officer of the registrant, voluntarily reduced his base salary to $300,000 effective November 1, 2010). Mr. Moore did not participate in the Board’s approval of this matter. The above-described base salary increase was first approved by the registrant’s Compensation Committee, and then recommended to the Board for its approval. The registrant and Mr. Moore will enter into an amendment to Mr. Moore’s Employment Agreement increasing Mr. Moore’s base annual salary to $375,000 per annum effective November 1, 2011.
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 on this 10th day of November, 2011.
| ACORN ENERGY, INC. | |
| By: | /s/ Joe B. Cogdell, Jr. |
| Name: | Joe B. Cogdell, Jr. |
| Title: | Vice President, General Counsel & Secretary |