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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
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
January 30, 2007
Date of Report
(Date of earliest event reported)
(Date of earliest event reported)
HARMONIC INC.
(Exact name of Registrant as specified in its charter)
| Delaware | 0-25826 | 77-0201147 | ||
| (State or other jurisdiction of incorporation or organization) |
Commission File Number | (I.R.S. Employer Identification Number) |
||
549 Baltic Way
Sunnyvale, CA 94089
(408) 542-2500
Sunnyvale, CA 94089
(408) 542-2500
(Address, including zip code, and telephone number, including area code,
of Registrant’s principal executive offices)
of Registrant’s principal executive offices)
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):
o
|
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |
o
|
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | |
o
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | |
o
|
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 | ||||||||
| SIGNATURES | ||||||||
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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.
On January 30, 2007, the Compensation and Equity Ownership Committee of the Board of Directors of
Harmonic Inc. (the “Company”) approved the Harmonic 2007 Key Contributor Bonus Plan (the “Plan”). The participants in the Plan include
the following executive officers of the Company:
| Name | Position | |
Patrick J. Harshman
|
President and Chief Executive Officer | |
Robin N. Dickson
|
Chief Financial Officer | |
Neven Haltmayer
|
Vice President, Research and Development | |
Charles J. Bonasera
|
Vice President of Operations |
Under the Plan, payment of a bonus to any
participant that is a member of executive management will be based on performance against revenue
and operating income targets. For all other participants, payment of a bonus will
be based on revenue, operating income and departmental financial targets. A minimum threshold must
be exceeded for each component before any bonus payment will be made for that
component. In the event that the target metrics are surpassed, a participant in the Plan may be awarded a
bonus payment up to a maximum of 200% of such
participant’s target.
The target bonus of each executive officer is as follows: Patrick J. Harshman — 80%
of base salary, Robin N. Dickson — 60 % of base salary, Neven Haltmayer — 40 % of base salary and
Charles J. Bonasera — 35 % of base salary.
Participants in the Plan must remain employed through the date that a bonus is paid in order to
qualify for a bonus payment. The Company, in its sole discretion, retains the right to amend,
supplement, supersede or cancel the Plan for any reason, and reserves the right to determine
whether and when to pay out any bonus amounts, regardless of the achievement of the performance
targets.
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