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
DATE OF REPORT (Date of Earliest Event Reported): September 29, 2004
CHYRON CORPORATION
(Exact Name of Registrant as Specified in its Charter)
New York 1-9014 11-2117385
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(State or Other (Commission File Number) (I.R.S. Employer
Jurisdiction Identification No.)
of Incorporation)
5 Hub Drive
Melville, New York 11747
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(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code: (631) 845-2000
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Item 1.01 Entry into a Material Definitive Agreement
On September 29, 2004 the Board of Directors of Chyron Corporation, a New York
corporation (the "Company"), approved and the Company entered into an agreement
with Professor Donald P. Greenberg, a Director of the Company and the Jacob
Gould Schurman Professor of Computer Graphics and Founding Director, Program of
Computer Graphics at Cornell University, for Professor Greenberg to provide
technical guidance to the Company's management team with respect to the
Company's future technology and product development plans. In compensation for
his services to the Company, Professor Greenberg was granted stock options for
50,000 shares of common stock of the Company on September 29, 2004 at an
exercise price of $0.48 per share, and which shares vest immediately and expire
after ten years, and a per diem consulting fee of $3,500 plus out of pocket
expenses for an estimated eight days of consulting services.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report on Form 8-K to be signed on its behalf by
the undersigned hereunto duly authorized.
CHYRON CORPORATION
By: /s/ Jerry Kieliszak
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Name: Jerry Kieliszak
Title: Senior Vice President and
Chief Financial Officer
Date: October 1, 2004