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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
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Date of Report (Date of earliest event reported): May 5, 2006
ADEPT TECHNOLOGY, INC.
(Exact name of registrant as specified in its charter)
Delaware 0-27122 94-2900635
(State or other jurisdiction (Commission (I.R.S. Employer
of incorporation) file number) Identification Number)
3011 Triad Drive 94550
Livermore, CA (Zip Code)
(Address of principal executive offices)
REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE: (925) 245-3400
None
(Former Name or Former Address, if Changed Since Last Report)
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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))
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Item 1.01. Entry into a Material Definitive Agreement
Grant of Performance Options to Mr. Bucher
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On May 5, 2006, the Board of Directors of Adept Technology, Inc. ("Adept"
or the "Company") approved the grant to Mr. Robert Bucher, Chief Executive
Officer of Adept, of 65,000 shares of Adept's Common Stock under the 2003 Plan
(the "Performance Options"), with 6/48th of the total number of shares subject
to the options, which amount may be adjusted to reflect the performance
objectives met, vesting on the date on which Adept's Compensation Committee
confirms that specified performance objectives have been met. Thereafter, the
Performance Options shall vest at 1/48th of the total number of shares subject
to the options per month in equal installments.
The performance objectives include specified financial objectives
(including profits and earnings growth) as well as certain corporate strategic
goals as identified in Exhibit 10.2 of this Report on Form 8-K.
Item 9.01. Financial Statements and Exhibits.
(c) Exhibits
10.1 Option Agreement for Robert Bucher, dated May 5, 2006.
10.2 Summary of Performance Objectives applicable to May 5, 2006
Performance Option Grant to Robert Bucher.
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.
ADEPT TECHNOLOGY, INC.
Date: May 9, 2006 By: /s/ Robert R. Strickland
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Robert R. Strickland
Chief Financial Officer