UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
Current Report
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
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Date of Report (Date of earliest event reported):
January 19, 2009
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AETRIUM INCORPORATED
(Exact name of registrant as specified in its charter)
| Minnesota | 0-22166 | 41-1439182 |
| (State or Other Jurisdiction of Incorporation) | (Commission File Number) | (I.R.S. Employer Identification Number) |
2350 Helen Street North St. Paul, Minnesota | 55109 |
| (Address of Principal Executive Offices) | (Zip Code) |
(651) 770-2000
(Registrant’s Telephone Number, Including Area Code)
N/A
(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 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
In January 2009, as a part of measures Aetrium Incorporated has taken to address the impact of the worldwide financial collapse that became apparent in late third quarter 2008, at the initiation of the company’s executive management the company reduced wage rates of all of the company’s employees by 10% and the salaries for the company’s executive officers by up to 25%. As a result, effective January 19, 2009, the base salaries of Joseph C. Levesque, President and Chief Executive Officer, Douglas L. Hemer, Chief Administrative Officer, Daniel M. Koch, Vice President—Worldwide Sales, and Paul H. Askegaard, Treasurer, were reduced by 25%, 20%, 15% and 13%, respectively.
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.
AETRIUM INCORPORATED
By: /s/ Douglas L. Hemer
Douglas L. Hemer
Chief Administrative Officer and Secretary
Dated: March 6, 2009
