Form 8-K

 

 

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): November 29, 2012

 

 

STEC, Inc.

(Exact name of registrant as specified in its charter)

 

 

 

California   000-31623   33-0399154

(State or other jurisdiction

of incorporation)

  

(Commission

File Number)

  

(IRS Employer

Identification No.)

 

3001 Daimler Street

Santa Ana, California

   92705-5812
(Address of principal executive offices)   (Zip Code)

Registrant’s telephone number, including area code: (949) 476-1180

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:

 

¨ 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 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

 

  (e) Compensatory Arrangements

On November 29, 2012, the Compensation Committee of the Board of Directors of STEC, Inc. (“STEC”) approved the voluntary offer by Mr. Mark Moshayedi, President and Chief Executive Officer, and Mr. Manouch Moshayedi, Founder, to reduce their respective annual base salaries to $1.00, effective December 1, 2012. This reduction to base compensation does not affect any other compensatory arrangements that Messrs. Mark and Manouch Moshayedi have with STEC and does not impact their non-salary compensation and benefits.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

        STEC, Inc.
  By:  

/s/ ROBERT M. SAMAN

    Robert M. Saman
Date: December 3, 2012     Chief Legal Officer, General Counsel and Secretary