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): August 23, 2005
TurboSonic Technologies, Inc.
(Exact name of Registrant as specified in its charter)
| Delaware | 0-21832 | 13-1949528 |
| (State of incorporation) | (Commission File No.) | (IRS Employer Identification No.) |
550 Parkside Drive, Suite A-14
Waterloo, Ontario N2L 5V4
Canada
(Address of principal executive offices)
Registrant's telephone number: (519) 885-5513
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 August 23, 2005, the Compensation Committee, as part of an overall cost of living increase to all employees, increased the base salaries of the Registrant's named executive officers to the following amounts (stated in US dollars), effective August 1, 2005.
| Edward F. Spink | Chairman & CEO | $ 151,841 |
| Egbert Q. van Everdingen | Executive VP | $ 130,149 |
On October 31, 2005, the Board of Directors of the Registrant awarded to all of the Registrant's employees and directors as of that date, including the following Directors and Executive Officers, stock options under the Registrant's 2003 Stock Plan. The options have an exercise price of $0.75 per share, which was the closing price of the Registrant's common stock on October 28, 2005. The options vested immediately upon grant and will expire on October 31, 2010.
| Edward F. Spink | Chairman & CEO | 35,000 |
| Patrick F. Forde | President, Secretary, Treasurer & CFO | 20,000 |
| Donald R. Spink, Sr. | Director | 20,000 |
| Richard H. Hurd | Director | 20,000 |
| Julien J. Hradecky | Director | 20,000 |
| Egbert Q. van Everdingen | Executive VP | 15,000 |
| David J. Hobson | VP Finance & Administration | 12,500 |
| Robert A. Allan | VP Engineering | 12,500 |
| Ronald A. Berube | VP Sales & Marketing | 12,500 |
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.
Dated: November 4, 2005
| TurboSonic Technologies, Inc. |
| | |
| | |
| By: /s/ Patrick J. Forde |
| Name: Patrick J. Forde |
| Title: President |
| Secretary & Treasurer |
| Chief Financial Officer |
