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) October 22,
2009
ACORN
ENERGY, INC.
(Exact
name of Registrant as Specified in its Charter)
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Delaware
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0-19771
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22-2786081
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(State
or Other Jurisdiction
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(Commission
file Number)
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(IRS
Employer
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of
Incorporation)
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Identification
No.)
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4 West Rockland Road,
Montchanin,
Delaware 19710
(Address
of Principal Executive
Offices) (Zip
Code)
Registrant’s
telephone number, including area code (302)
656-1707
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-2 under the Exchange Act (17 CFR
240.14a-2)
¨ 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))
Section
5 - Corporate Governance and Management
Item
5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain
Officers.
Base Salary
Increase
An increase in the base monthly
salary of Benny Sela, Chief Executive Officer of DSIT Solutions Ltd. (“DSIT”), a
subsidiary of Acorn Energy, Inc. (the “Company”), from NIS 54,601 to NIS 60,061
was approved on October 22, 2009 by the board of directors of
DSIT. The increase is effective November 1, 2009. The board of
directors of DSIT also approved changing Mr. Sela’s annual bonus, with Mr.
Sela’s consent, from 5% of DSIT’s annual consolidated net income to 1.75% of
DSIT’s annual consolidated gross profit effective for the 2009 calendar year. No
changes were made to the base salaries of the other named executive officers of
the Company.
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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 on this 23rd day of
October, 2009.
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ACORN
ENERGY, INC.
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By:
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/s/ Joe B. Cogdell,
Jr.
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Name:
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Joe
B. Cogdell, Jr.
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Title:
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Vice
President, General Counsel and
Secretary
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