ENERGY FOCUS, INC. (NASDAQ:EFOI) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02. Departure of Directors or Certain Officers; Election
of Directors; Appointment of Certain Officers; Compensatory
Arrangements of Certain Officers.
Bradley B. White as Chief Financial Officer and Secretary,
effective December 12, 2016. Mr. White will replace Michael H.
Port, who has been serving as the Companys Chief Financial
Officer and Secretary in an interim capacity.
and Chief Financial Officer of EngagePoint, Inc., a
privately-held enterprise software and solutions provider to
state and federal government organizations, since 2015. He had
previously served as Chief Accounting Officer, Vice President and
Controller of National Grid USA, a subsidiary of an SEC-reporting
multinational energy company based in the U.K., from 2011 to
2014. Mr. While served in various finance roles prior to that,
including as Assistant Corporate Controller at Unisys Corp. from
2006 to 2011. He began his career as an Audit Manager at
PricewaterhouseCoopers.
annually and is eligible for a performance-based bonus of 65% of
base salary at target level, of which $150,000 is guaranteed for
2017 if he remains employed through the payment date with respect
to Companys 2017 fiscal year bonus plan. In connection with his
appointment, he also will be granted restricted stock units
(RSUs) having a grant date value of $157,500 and options equal to
1.5 times the number of RSUs that will vest over three years. Mr.
Port will receive a bonus of $35,000 in recognition of his
contributions to the Company.
Tewksbury III, Ph.D., as Executive Chairman and a member of the
Board of Directors, effective December 12, 2016. Ronald D. Black,
Ph.D., who had been serving as the Companys non-executive
Chairman, will remain on the Board of Directors and return to the
position of Lead Director.
Partners, LLC,providing strategic consulting, advisory and board
services to private and public technology companies, venture
capital and private equity firms, since 2013. He had served as
President and Chief Executive Officer (from November 2014) and a
director (from September 2010) of Entropic Communications, a
public company specializing in semiconductor solutions for the
connected home, until its sale to MaxLinear, Inc., another public
semiconductor company, in April 2015, and he remains a director
of MaxLinear, Inc. He is also a director of Jariet Technologies,
a private company specializing in digital microwave integrated
circuits for wireless infrastructure, backhaul and military
applications. From 2008 to 2013, Dr. Tewksbury had been President
and Chief Executive Officer and a director of Integrated Device
Corporation, a public semiconductor company.
annually. In connection with his appointment, he also will be
granted RSUs having a grant date fair value of $100,000 that will
vest over two years.
attached hereto as Exhibit 99.1.
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Item 9.01
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Financial Statements and Exhibits.
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Exhibit
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Number
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Description
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99.1
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Press release dated November 22, 2016
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About ENERGY FOCUS, INC. (NASDAQ:EFOI)
Energy Focus, Inc. along with its subsidiaries is engaged in the design, development, manufacturing, marketing, installation and sale of lighting systems. The Company is engaged in developing and selling of light-emitting diode (LED) lighting products for military maritime market, and general commercial and industrial markets. It produces, sources and/or markets a range of lighting technologies to serve its primary end markets. It offers military maritime products, such as Military Intellitube, military globe lights and military berth light to serve the United States navy and allied foreign navies. It offers commercial products, such as direct-wire tubular LED (TLED) replacements for linear fluorescent lamps, LED dock lights, low-bay and high-bay lighting for high-intensity discharge applications and LED retrofit kits to serve general commercial and industrial markets. ENERGY FOCUS, INC. (NASDAQ:EFOI) Recent Trading Information
ENERGY FOCUS, INC. (NASDAQ:EFOI) closed its last trading session up +0.13 at 5.25 with 110,091 shares trading hands.
