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
Date of Report (Date of earliest event reported):
January 26, 2010
Adaptec, Inc.
(Exact name of registrant as specified in its charter)
|
|
|
|
|
|
|
|
691 S. Milpitas Blvd.
Milpitas, California 95035
(Address of principal executive offices including zip code)
(408) 945-8600
(Registrant's telephone number, including area code)
N/A
(Former Name or Former Address, if Changed Since Last Report)
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:
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 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))
Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
(e) Compensatory Arrangements with Interim President and Chief Executive Officer
Upon the recommendation and approval of the Compensation Committee, on January 26, 2010, the Board of Directors of Adaptec, Inc. (the "Company" or "Adaptec") approved providing compensation of $30,000 per month to John J. Quicke for his service as our Interim President and Chief Executive Officer. The compensation award became effective January 4, 2010, the date he assumed the interim position, and will continue so long as he serves in such position. Mr. Quicke will continue to receive compensation as a non-executive board member. Jack L. Howard abstained from voting to approve the award as a member of the Compensation Committee and as a member of the Board of Directors, and Mr. Quicke abstained from voting to approve the award as a member of the Board of Directors.
2
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Adaptec, Inc.
|
By: /s/ MARY L. DOTZ
Mary L. Dotz Chief Financial Officer |
January 29, 2010
3