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): May 14, 2020 

Blonder Tongue Laboratories, Inc.

(Exact Name of registrant as specified in its charter)

One Jake Brown Road, Old Bridge, New Jersey  08857

(Address of principal executive offices) (Zip Code)

Registrant’s telephone number, including area code: (732) 679-4000

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:

Securities registered pursuant to Section 12(b) of the Act:

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

On May 14, 2020, Blonder Tongue Laboratories, Inc. (the “Company”) entered into Deferred Compensation Agreements (the “Agreements”) with certain of its executive officers (each, an “Executive,” and together, the “Executives”), which Agreements provide for the deferral of certain compensation otherwise payable by the Company to each Executive. Under the terms of the Agreements, each Executive agreed to the deferral of a specified percentage of the cash compensation to be earned by such Executive for a specified period of time, measured from May 3, 2020.

As of each date on which compensation is deferred pursuant to each Executive’s Agreement would otherwise have been paid, the Company will accrue a number of shares of its common stock calculated by dividing (i) the dollar amount of the deferred compensation for such date by (ii) the fair market value of one share of the Company’s common stock (the “Accrued Shares”). For purposes of calculating the number of Accrued Shares, “fair market value” will equal the official closing price on the NYSE American consolidated tape on the calculation date, or if that day in not a trading day on the trading day immediately preceding such day, as long as the Company’s common stock is listed on the NYSE American exchange). On or before March 15, 2021, the Company is obligated to deliver to each Executive the number of Accrued Shares applicable to such Executive, subject to compliance with applicable tax withholding obligations. The Executives, their positions with the Company and details regarding the percentage deferred and deferral period are provided below.

The foregoing summary of the Agreements does not purport to be complete and is qualified in its entirety by reference to the full text of the form of Deferred Compensation Agreement, which is attached hereto as Exhibit 10.1 and incorporated herein by reference.

(d)       Exhibits. The following exhibit is filed herewith:

SIGNATURE

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.

Date: May 18, 2020