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EX-10.1 - FORM OF RESTRICTED STOCK UNIT AWARD AGREEMENT - WESTELL TECHNOLOGIES INCd329191dex101.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): April 1, 2012

 

 

WESTELL TECHNOLOGIES, INC.

(Exact name of registrant as specified in charter)

 

 

 

Delaware   0-27266   36-3154957

(State of other jurisdiction

of incorporation)

 

(Commission

File Number)

 

(IRS Employer

Identification No.)

 

750 North Commons Drive,

Aurora, Illinois

  60504
(Address of principal executive offices)   (Zip Code)

Registrant’s telephone number, including area code (630) 898-2500

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 (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. DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS

On April 1, 2012, the Compensation Committee of the Board of Directors of Westell Technologies, Inc. (the “Company”) granted restricted stock units (the “RSU Grant”) to two individuals that were named in the Summary Compensation Table in the Company’s proxy statement for the 2011 annual meeting of stockholders. Mr. Christopher J. Shaver (SVP and General Manager) was awarded 100,000 restricted stock units and Mr. Brian G. Powers (VP of Sales) was awarded 30,000 restricted stock units. Twenty five percent of the RSU Grant will vest on April 1, 2013, 25% will vest on April 1, 2014, 25% will vest on April 1, 2015 and the remaining 25% will vest on April 1, 2016. Upon vesting, the RSU Grant converts into shares of Class A Common Stock of the Company on a one-for-one basis.

A copy of the form of award relating to the RSU Grant is attached hereto as Exhibit 10.1 and is incorporated herein by reference.

 

Item 9.01. FINANCIAL STATEMENTS AND EXHIBITS

(d) Exhibits

 

Exhibit No.

  

Description

10.1    Form of Restricted Stock Unit Award Agreement

 

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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.

 

    WESTELL TECHNOLOGIES, INC.
Date: April 4, 2012   By:  

/s/ Brian S. Cooper

    Brian S. Cooper
    Chief Financial Officer, Treasurer and Secretary

 

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Exhibit Index

 

Exhibit No.

  

Description

10.1    Form of Restricted Stock Unit Award Agreement

 

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