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):
March 8, 2007
Concurrent Computer Corporation
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(Exact Name of Registrant as Specified in its Charter)
Delaware 0-13150 04-2735766
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(State or Other (Commission (IRS Employer
Jurisdiction File Number) Identification Number)
of Incorporation)
4375 River Green Parkway, Suite 100, Duluth, Georgia 30096
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(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code: (678) 258-4000
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Not applicable
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(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
On March 8, 2007, the Board of Directors (the "Board") of Concurrent
Computer Corporation (the "Company") approved the hiring of Emory O. Berry, 41,
of TechCFO LLC, a financial management staffing firm ("TechCFO"), as the
Company's Chief Financial Officer, effective March 9, 2007. As a partner of
TechCFO, Mr. Berry has provided financial leadership and advisory services to
Concurrent Computer Corporation on a contract basis for the past four weeks,
since the resignation of Concurrent's previous Chief Financial Officer. Mr.
Berry will remain a partner with TechCFO, but with this appointment as Chief
Financial Officer, he will now assume the responsibilities of Concurrent's
principal financial and accounting officer. The Compensation Committee of the
Board has approved a monthly fee of $30,000 payable to TechCFO and granted Mr.
Berry 100,000 options at the grant date closing price of $1.52 per share with a
four year vesting period. In addition, if the agreement is terminated without
cause within twelve months, or between twelve and twenty-four months, TechCFO
will be paid a fee of $180,000, or $90,000, respectively. If the agreement is
terminated without cause after two years, no termination fee will be paid. The
Company anticipates filing the Employment Agreement with additional details,
upon completion.
Mr. Berry has been a partner at TechCFO since August 2006. Beginning in
August 1999, Mr. Berry served as the Chief Financial Officer of DVT Corporation,
until its acquisition in May 2005 by Cognex Corporation, a publicly traded
provider of machine vision systems. From May 2005 through January 2007, Mr.
Berry assisted Cognex with the financial and operational integration of DVT as a
consultant. From June 1998 through March 1999, Mr. Berry served as Chief
Financial Officer and Treasurer of Firearms Training Systems, formally, a
publicly traded company specializing in simulated weapons training systems. Mr.
Berry also served as the Director of Corporate Accounting of Firearms Training
Systems from March 1997 through June 1998. Prior to joining Firearms Training
Systems, Mr. Berry worked as a financial consultant and also held various
corporate controller and financial reporting positions in public and private
companies. Mr. Berry began his career as an accountant at Ernst & Young.
Signatures
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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.
CONCURRENT COMPUTER CORPORATION
Date: March 9, 2007 By: /s/ Kirk L. Somers
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Kirk L. Somers
General Counsel