NORTHERN POWER SYSTEMS CORP. (TSE:NPS) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item5.02
|
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
On February10, 2017, Marcus D. Baker resigned from the board of
directors of Northern Power Systems Corp. (the Company).
Mr.Baker, President of Baker Companies, Inc., had served as a
director of the Company since the incorporation of the successor
business in August 2008. There were no disagreements between the
Company and Mr.Baker that led to his decision to resign.
Also on February10, 2017, the Companys board of directors elected
Kevin R. Kopczynski to fill the vacancy resulting from Mr.Bakers
resignation. Mr.Kopczynski is a Senior Director of Research and
Development for First Solar, Inc. He joined Fist Solar upon its
acquisition of Enki Technology, Inc. for which Mr.Kopczynski
served as President and CEO since August 2013. Enki was in the
business of developing and selling coating materials for solar
panels. Prior to joining Enki, Mr.Kopczynski was a Partner with
RockPort Capital Partners, an energy focused venture capital
firm. He joined RockPort in July 2008.
The Companys standard compensation arrangement for non-employee
directors is described in the Director Compensation section of
the Companys most recent proxy statement. Mr.Kopczynskis
committee assignments will be determined at a later date.
Also, the Company announced that June Morris resigned from her
position as Vice President, General Counsel and Secretary of the
Company. There were no disagreements between the Company and
Ms.Morris that led to her decision to resign, which will be
effective as of February17, 2017.
| Item8.01 | Other Events. |
On February16, 2017, the Company issued a press release regarding
the matters described in this Current Report on Form 8-K. A copy
of the press release is attached as Exhibit 99.1 to this Current
Report on Form 8-K and is incorporated herein by reference.
| Item9.01 | Financial Statements and Exhibits. |
| (d) | Exhibits |
The following exhibits are furnished as part of this Report:
|
Exhibit Number |
Description |
|
| 99.1 |
Press release dated February 16, 2017, issued by Northern Power Systems Corp. |
2
About NORTHERN POWER SYSTEMS CORP. (TSE:NPS)
Northern Power Systems Corp. is a provider of renewable power creation and power conversion technology for the energy sector. The Company designs, manufactures and services permanent magnet direct-drive (PMDD) wind turbines for the distributed wind market. Its segments include Product Sales and Service, Technology Licensing, Technology Development and Shared Services. The Product Sales and Service segment includes the sale of distributed-class turbines along with related services and other products produced and sold to customers. The Technology Licensing segment includes the licensing of packages of its developed technology. The Technology Development segment includes the development of technology for specific customer needs. The Shared Services segment comprises general and administrative departments. The Company licenses its utility-class wind turbine platform, which uses the PMDD technology as its distributed turbines, to the manufacturers on a global basis. NORTHERN POWER SYSTEMS CORP. (TSE:NPS) Recent Trading Information
NORTHERN POWER SYSTEMS CORP. (TSE:NPS) closed its last trading session 00.000 at 0.170 with 31,025 shares trading hands.
