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):
September
21, 2007
AKEENA
SOLAR, INC.
(Exact
name of registrant as specified in its charter)
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Delaware
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000-52385
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90-0181035
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(State
or other jurisdiction of incorporation)
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(Commission
File No.)
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(I.R.S.
Employer Identification No.)
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16005
Los Gatos Boulevard
Los
Gatos, California 94032
(Address
of principal executive offices)
Registrant’s
telephone number, including area code:
(408)
395-7774
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 (see General Instruction A.2. below):
¨
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.
(c)
Appointment of New Chief Financial Officer.
On
September 24, 2007, Akeena Solar, Inc. (“Akeena” or the “Company”) announced
that Gary R. Effren has accepted an offer to become the Company’s Chief
Financial Officer effective September 21, 2007.
Mr.
Effren, 51, had served as the Vice President/Finance of Knight-Ridder, Inc.,
a
Fortune 500 media company, since January 2005. Prior to that, Mr. Effren served
as Senior Vice President/Finance and Chief Financial Officer of Knight-Ridder
from 2001 to 2004, and as Vice President/Controller of Knight-Ridder from 1995
to 2001.
Mr.
Effren’s employment will be pursuant to a letter agreement (the “Agreement”)
accepted on September 21, 2007, under which Mr. Effren will be an “at will”
employee, will have an initial salary equivalent to $250,000 per year, and
will
be eligible to participate in the Company’s bonus program (with target bonus of
50% of salary, dependent on Company performance), and health and other benefits
programs. The Company’s Board of Directors approved the grant to Mr. Effren of a
stock option to purchase 350,000 shares of common stock, vesting over three
years in accordance with the Company’s 2006 Incentive Stock Plan and standard
forms of agreement. The option exercise price is $6.30, which was the closing
market price on the date of grant.
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.
Date:
September 26, 2007
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AKEENA SOLAR,
INC. |
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By: |
/s/ Barry
Cinnamon |
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Barry
Cinnamon, |
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Chief
Executive Officer |