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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
Date of Report (Date of earliest event reported): June 2, 2008
ADEPT TECHNOLOGY, INC.
(Exact name of registrant as specified in its charter)
California 0-27122 94-2900635
(State or other jurisdiction (Commission file number) (I.R.S. Employer
of incorporation) 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 1.01. Amendment of Material Definitive Agreement/ Item 5.02 Departure of
Directors or Certain Officers; Election of Directors; Appointment of Certain
Officers; Compensatory Arrangements of Certain Officers
Item 1.01 Amendment of Material Agreement /5.02(b) Departure of Director
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On May 29, 2008, Crosslink confirmed to Adept, that as a result of the December
31, 2007 separation from Crosslink of Charles Finnie, the director designated by
Crosslink in connection with its 2006 investment in Adept, Mr. Finnie ceased to
serve as a representative of Crosslink on Adept's Board of Directors.
On June 2, 2008, Crosslink notified Adept that Crosslink was relinquishing the
right to designate an individual for election to the Board of Directors of
Adept. Pursuant to the 2006 Common Stock Purchase Agreement dated June 9, 2006
between Crosslink entities and Adept, Crosslink had the right to designate an
individual for election to Adept's Board so long as Crosslink and its affiliates
owned 5 percent or more of the Company's outstanding stock. As a result of their
June 2, 2008 modification, Crosslink no longer has the right to designate any
director of Adept.
Crosslink has also informed Adept that it currently holds approximately 641,443
shares of Adept common stock, representing approximately 8% of the outstanding
shares, after sales of approximately 314,080 shares following Mr. Finnie's
departure from Crosslink.
On June 4 2008, Charles Finnie resigned from the Board of Directors of Adept
Technology, Inc.
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: June 5, 2008 By: /s/ Lisa M. Cummins
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Lisa M. Cummins
Vice President of Finance
and Chief Financial Officer