Attached files
| file | filename |
|---|---|
| EX-10.1 - OFFICER AND DIRECTOR COMPENSATION - VOLTERRA SEMICONDUCTOR CORP | dex101.htm |
| EX-10.2 - MANAGEMENT BONUS PLAN - VOLTERRA SEMICONDUCTOR CORP | dex102.htm |
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 21, 2011
Volterra Semiconductor Corporation
(Exact name of registrant as specified in its charter)
| Delaware | 000-50857 | 94-3251865 | ||
| (State or other jurisdiction of incorporation) |
(Commission File Number) |
(I.R.S. Employer Identification No.) |
| 47467 Fremont Blvd., Fremont, California |
94538 | |
| (Address of principal executive offices) | (Zip Code) |
Registrant’s telephone number, including area code: 510 743 1200
Not Applicable
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.
2011 Compensation Approvals
On January 21, 2011, the Compensation Committee of the Board of Directors of Volterra Semiconductor Corporation (the “Company”) and the Board of Directors approved certain compensation matters for its directors and executive officers.
The Committee’s and Board’s approvals are described in Exhibit 10.1 to this Current Report, which is incorporated in this Item 5.02 by reference.
Management Bonus Plan for 2011
The Compensation Committee also approved participation by the Company’s executive officers in the Company’s management bonus plan for 2011, at the target bonus percentages provided below.
| Name and Title |
Bonus Target | |||
| Jeff Staszak |
||||
| President and Chief Executive Officer |
100% | |||
| Mike Burns |
||||
| Vice President, Finance and Chief Financial Officer |
50% | |||
| Bill Numann |
||||
| Senior Vice President, New Product Development |
60% | |||
| Craig Teuscher |
||||
| Senior Vice President, Operations, Mnfg. Eng. & Quality Assurance |
60% | |||
| Tom Truman |
||||
| Vice President, World Wide Sales |
40% | |||
The target bonus for each executive officer, as described above, is a percentage of his base salary earned during the year. Under the plan, individual bonuses may range from 0% (if minimum operating results are not achieved) to a maximum of 150% (if results exceeds objectives) of the target bonus amount for such officer. The target bonus for the Company’s chief executive officer is based solely on the Company’s financial performance. The target bonuses for all other executive officers of the Company are weighted such that fifty percent of the target bonus is based on the Company’s financial performance and fifty percent is based on the satisfaction of individual performance criteria as established by the Company’s chief executive officer, as reviewed by the Compensation Committee.
The foregoing descriptions are subject to, and qualified in their entirety by, the Company’s Management Bonus Plan, which is filed as Exhibit 10.2 to this Current Report and is incorporated in this Item 5.02 by reference.
Item 9.01 Financial Statements and Exhibits.
The following exhibits are furnished with this document:
| Exhibit Number |
Description of Exhibit | |
| 10.1 | Officer and Director Compensation | |
| 10.2 | Management Bonus Plan |
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.
| Volterra Semiconductor Corporation | ||||||
| January 27, 2011 | By: | /s/ David Oh | ||||
| Name: David Oh | ||||||
| Title: General Counsel | ||||||
Exhibit Index
| Exhibit No. |
Description | |
| 10.1 | Officer and Director Compensation | |
| 10.2 | Management Bonus Plan | |