UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 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 19, 2015
IGATE Corporation
(Exact Name of Registrant as Specified in Its Charter)
Pennsylvania
(State or Other Jurisdiction
of Incorporation)
| 000-21755 | 25-1802235 | |
| (Commission File Number) |
(IRS Employer Identification No.) | |
| 100 Somerset Corporate Blvd., Bridgewater, NJ | 08807 | |
| (Address of Principal Executive Offices) | (Zip Code) | |
(908) 219-8050
(Registrant’s Telephone Number, Including Area Code)
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:
| ¨ | 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 January 19, 2015, the Compensation Committee (the “Committee”) of the Board of Directors (the “Board”) of IGATE Corporation (the “Company”) approved the annual performance-based incentive compensation opportunity for 2015 for its President and Chief Executive Officer, Ashok Vemuri, with a target annual bonus of $700,000. The actual annual bonus payable to Mr. Vemuri for 2015 will be based upon the Company’s achievement of certain revenue, non GAAP earnings before interest, taxes, depreciation and amortization (EBITDA) margin, Non GAAP earnings per share (EPS) and such other strategic goals or targets set by the Committee, and will range from 0% to 200% of the performance-based compensation target.
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.
| IGATE Corporation | ||
| By: | /s/ Mukund Srinath | |
| Name: | Mukund Srinath | |
| Title: | Senior Vice President – Legal & Corporate Secretary | |
January 23, 2015