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): July 19, 2007
SONIC SOLUTIONS
(Exact name of registrant as specified in its charter)
| California | 23190 | 93-0925818 |
(State or other jurisdiction of organization) | (Commission File Number) | (I.R.S. Employer Identification No.) |
| 101 Rowland Way, Suite 110 Novato, CA | 94945 |
| (Address of principal executive offices) | (Zip code) |
| Registrant's telephone number, including area code: | (415) 893-8000 |
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):
| | o | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| | o | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| o | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| | o | 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.
(e) Compensatory Arrangements of Certain Officers
On July 19, 2007, the Board of Directors (the “Board”) of Sonic Solutions (the “Company”) approved and authorized the Company to provide Mark Ely, the Company’s Executive Vice President of Strategy (a) a cash bonus of $50,000 to be paid immediately, and (b) an award of 50,000 restricted stock units, such restricted stock units to be issued at the earliest possible time consistent with all applicable legal and regulatory requirements, to have a vesting commencement date of May 15, 2007, and to vest as follows: twelve and one-half percent (12.5%) of the restricted stock units shall vest every six (6) months after the vesting commencement date, until one-hundred percent (100%) of the restricted stock units are vested on the fourth (4th) anniversary of the vesting commencement date.
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.
| | | |
| | SONIC SOLUTIONS |
|
|
|
| By: | /s/ David C. Habiger |
| |
Name: David C. Habiger |
| | Title: President and Chief Executive Officer (Principal Executive Officer) |
Date: July 24, 2007
