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): August 18, 2008
KVH Industries, Inc.
(Exact Name of Registrant as Specified in Charter)
| Delaware | 0-28082 | |
| (State or Other Jurisdiction of Incorporation) |
(Commission File Number) |
05-0420589
(IRS Employer Identification No.)
| 50 Enterprise Center Middletown, RI |
02842 | |
| (Address of Principal Executive Offices) | (Zip Code) |
Registrant’s telephone number, including area code: (401) 847-3327
(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 (see General Instruction A.2. below):
| ¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
| ITEM 5.02. | DEPARTURES OF DIRECTORS OR PRINCIPAL OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF PRINCIPAL OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS |
| (e) | Compensatory Arrangements of Certain Officers |
In February 2008, after concluding it would not make any changes to the base salary for named executive officers, the Compensation Committee (the “Compensation Committee”) of the Board of Directors of KVH Industries, Inc. (the “Company”) determined it would reevaluate such base salaries in July 2008.
On August 18, 2008, the Compensation Committee approved an increase to the annual base salaries of the following persons for 2008, to be effective July 1, 2008, to the respective amounts set forth below.
| Name and Title |
2008 Annual Base Salary | ||
| Martin A. Kits van Heyningen President and Chief Executive Officer |
$ | 374,842 | |
| Patrick J. Spratt Chief Financial Officer |
$ | 249,471 | |
| Ian C. Palmer Executive Vice President, Satellite Sales |
$ | 219,091 | |
| Robert J. Balog Vice President, Engineering, Satellite Products |
$ | 210,077 | |
| Robert W.B. Kits van Heyningen Vice President, Research and Development |
$ | 203,973 | |
SIGNATURES
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.
| KVH INDUSTRIES, INC. | ||||
| Date: August 20, 2008 | ||||
| BY: | /s/ PATRICK J. SPRATT | |||
| Patrick J. Spratt | ||||
| Chief Financial and Accounting Officer | ||||