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 11, 2012
Quepasa Corporation
(Exact name of registrant as specified in its charter)
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Delaware
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001-33105
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86-0879433
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(State or other Jurisdiction of Incorporation)
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(Commission File Number)
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(IRS Employer Identification No.)
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100 Union Square Drive
New Hope, Pennsylvania
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18938
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(Address of principal executive offices)
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(Zip Code)
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Registrant’s telephone number, including area code: (215) 862-1162
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:
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On April 11, 2012, the Compensation Committee of the Board of Directors (“Board”) of Quepasa Corporation (“Quepasa”) approved the compensation of Quepasa’s non-employee directors. For their service on the Board, each non-employee director will receive: (i) an annual retainer of $25,000; (ii) additional retainer fees of $6,000 for the Audit Committee Chairperson, $5,000 for the Compensation Committee Chairperson and $2,000 for the Governance Committee Chairperson; (iii) additional retainer fees of $6,000 for Audit Committee members, $5,000 for Compensation Committee members and $1,000 for Governance Committee members; and (iv) annual equity compensation of 18,500 stock options vesting monthly over one year which will be granted immediately following Quepasa’s 2012 Annual Meeting (subject to being re-elected).
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.
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QUEPASA CORPORATION
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Date: April 17, 2012
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By:
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/s/ Michael Matte | |
| Name: Michael Matte | |||
| Title: Chief Financial Officer | |||