eGAIN CORPORATION (NASDAQ:EGAN) Files An 8-K Results of Operations and Financial ConditionItem 2.02.Results of Operations and Financial Condition
The following information in this Item 2.02 is being furnished and shall not be deemed “filed” for purposes of Section18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.
On September6, 2017, eGain Corporation (“eGain” or the “Company”) issued a press release announcing results for its fiscal fourth quarter and fullyear ended June30, 2017. The press release contains forward-looking statements regarding eGain and includes cautionary statements identifying important factors that may cause actual results to differ materially from those anticipated. A copy of the press release is furnished herewith as Exhibit99.1.
Item 2.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
(e)Compensatory Arrangement of Certain Officers.
On September1, 2017, the Compensation Committee of the Board of Directors of eGain Corporation (the “Company”) approved variable payouts for certain of its executive officers in accordance with the Company’s executive compensation strategy. The variable payouts (at 60% of target for the fiscalyear ended June30, 2017) were as follows:
For Eric Smit, the Company’s Chief Financial Officer, a variable payout for fiscal 2017 of $30,000 was approved.
For Promod Narang, the Company’s Senior Vice President of Products, a variable payout for fiscal 2017 of $30,000 was approved.
In addition, the Compensation Committee approved a $25,000 increase in the target variable compensation of each such executive officer for the fiscalyear beginning July1, 2017from $50,000 to $75,000 for Mr.Smit and from $50,000 to $75,000 for Mr.Narang.
Item 2.02. Financial Statements and Exhibits
Press release, dated September6, 2017, of eGain Corporation