Form 8-K

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

 

 

FORM 8-K

 

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of

the Securities Exchange Act of 1934

January 10, 2013

Date of Report (date of earliest event reported)

 

 

PCTEL, Inc.

(Exact name of registrant as specified in its charter)

 

 

 

Delaware   000-27115   77-0364943

(State or Other Jurisdiction

of Incorporation)

 

(Commission

File Number)

 

(IRS Employer

Identification No.)

471 Brighton Drive

Bloomingdale, Illinois 60108

(Address of Principal Executive Offices, including Zip Code)

(630) 372-6800

(Registrant’s telephone number, including area code)

 

 

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(b))

 

¨ 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))

 

 

 


Section 5 – Corporate Governance and Management

 

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

Named Executive Officers Base Salary

On January 10, 2013, the Compensation Committee of the Board of Directors of PCTEL, Inc. (the “company” or “PCTEL”) approved the base salary of the named executive officers of the company other than the Chief Executive Officer (“CEO”). The annual base salary for each of the named executive officers (other than the CEO) will be increased as shown in the table below:

 

Officer Name

  

Title

   Base Salary
April 1, 2012
    Base Salary Effective
February 1, 2013
 

John W. Schoen

   Chief Financial Officer    $ 260,000      $ 268,000   

Jeffrey A. Miller

   President, Connected Solutions    $ 270,000      $ 300,000   

Anthony Kobrinetz

  

COO Connected Solutions,

Corporate CIO/CTO

   $ 240,000      $ 248,000   

Varda A. Goldman

   Senior Vice President & General Counsel    $ 200,000   $ 235,000   

 

* This base salary was increased from $200,000 to $220,000 effective August 1, 2012 in connection with assignment of additional responsibilities.

Adoption of Change in Maximum Potential Bonus Under 2013 Short Term Incentive Plan

On January 10, 2013, the Compensation Committee approved changes in the maximum potential bonus that can be achieved by the named executive officers (other than the CEO) under the company’s Short Term Incentive Plan for 2013 (the “2013 STIP”) as indicated below:

 

Name and Title

   Maximum Bonus as a
Percentage of 2012 Salary
    Maximum Bonus as a
Percentage of 2013 Salary
 

John W. Schoen
Chief Financial Officer

     85     90

Jeffrey A. Miller
President, Connected Solutions

     100     105

Anthony Kobrinetz
COO Connected Solutions, Corporate CIO/CTO

     85     90

Varda A. Goldman
Senior Vice President & General Counsel

     65     70


SIGNATURES

Pursuant to the requirements of the Securities and Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: January 31, 2013

 

  PCTEL, INC.
By:  

/s/ John W. Schoen

  John W. Schoen, Chief Financial Officer