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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): September 5, 2007
ADEPT TECHNOLOGY, INC.
(Exact name of registrant as specified in its charter)
California 0-27122 94-2900635
(State or other jurisdiction (Commission (I.R.S. Employer
of incorporation) file number) Identification Number)
3011 Triad Drive 94551
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 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Amendment of Non-Employee Director Compensation
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On September 5, 2007, the Board of Directors of Adept Technology, Inc.
("Adept" or the "Company") approved the increase in annual cash retainer paid to
the director serving as Chairman of the Audit Committee of Adept to $7,500 from
$5,000. Other annual compensation for non-employee directors was not revised
from prior fiscal years.
Departure of Director
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On September 5, 2007, the Board of Directors of Adept received notification
that Mr. Cary Mock would not be standing for reelection to Adept's Board of
Directors at the 2007 Annual Meeting of Stockholders. Mr. Mock currently serves
as Chairman of the Compensation Committee and a member of the Audit Committee of
the Board of Directors.
Compensatory Arrangements of Certain Officers
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On September 5, 2007, the Board of Directors of Adept determined the fiscal
2007 sales commission bonus payable to Mr. John D. Dulchinos to be $97,377
pursuant to the terms of Adept's 2007 Executive Bonus Plan. As previously
disclosed in Adept's Current Report on Form 8-K filed on June 28, 2007, the
terms of Mr. Dulchinos' employment were amended in connection with his
appointment as President and Chief Operating Officer of Adept such that Mr.
Dulchinos will be compensated under a non-sales commission bonus program for
fiscal 2008. The terms of such bonus program and targets are to be defined by
the Board of Directors.
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: September 11, 2007 By: /s/ Lisa M. Cummins
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Lisa M. Cummins
Vice President of Finance and Chief
Financial Officer