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
May 11,
2006
Date
of Report (Date of earliest event reported)
EMCORE
CORPORATION
Exact
name of registrant as specified in its charter
|
New
Jersey
|
0-22175
|
22-2746503
|
|
State
of Incorporation
|
Commission
File Number
|
IRS
Employer Identification No.
|
145
Belmont Drive, Somerset, New Jersey, 08873
Address
of principal executive offices, including Zip Code
(732)
271-9090
Registrant's
telephone number, including area code
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
1.01. Entry
into
Material Definitive Agreements.
The
following is a description of an amendment to the EMCORE Corporation ("EMCORE"
or the "Company") Fiscal 2006 Executive Bonus Plan (the "Fiscal 2006 Executive
Bonus Plan"), provided pursuant to Item 601(b)(10)(iii) of Regulation S-K,
which
requires a written description of a compensatory plan when no formal document
contains the compensation information.
On
May
11, 2006, the Compensation Committee (the “Compensation Committee”) of the Board
of Directors of EMCORE amended the Fiscal 2006 Executive Bonus Plan as
follows:
1.
The bonus
target for the Chief Operating Officer, Mr. Scott T. Massie, was increased
to
70% of his base salary (from 60%).
2.
A pool of
$600,000 has been authorized for supplemental bonuses to the other members
of
the executive management team (the Chief Executive Officer, the Chief Financial
Officer, the Chief Technology Officer, and the Chief Legal Officer). The
supplemental bonus pool will be payable upon the attainment of certain
corporate
milestones specified by the Compensation Committee. Upon the attainment
of such
milestones, the Chief Executive Officer will submit his recommendation
on the
allocation of the bonus pool to the Compensation Committee for approval.
In
addition to these amendments to the Fiscal 2006 Executive Bonus Plan, the
Compensation Committee voted to award the Chief Operating Officer, Mr.
Scott T.
Massie, a discretionary bonus of $100,000. The discretionary bonus awarded
by
the Compensation Committee to Mr. Massie was in recognition of his efforts
and
services that contributed to the significant appreciation of the Company’s
common stock during fiscal 2006. The bonus also was meant to incentivize
Mr. Massie to remain with the Company and to continue to assist in implementing
the Company’s strategic goals.
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.
| EMCORE CORPORATION | |
|
By: /s/
Thomas G. Werthan
Thomas
G. Werthan
Chief
Financial Officer
|
Dated: May
17,
2006