DEFA14A 1 oclrproxyadditionalmateria.htm DEFA14A OCLR Proxy Additional Materials 8-K


UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
  
SCHEDULE 14A
(Rule 14a-101)

INFORMATION REQUIRED IN PROXY STATEMENT

SCHEDULE 14A INFORMATION

Proxy Statement Pursuant to Section 14(a) of the Securities
Exchange Act of 1934
Filed by the Registrant   x   
Filed by a Party other than the Registrant  ¨
Check the appropriate box:
 
¨
  Preliminary Proxy Statement
¨
  Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2))
¨
  Definitive Proxy Statement
x
  Definitive Additional Materials
¨
  Soliciting Material Pursuant to §240.14a-12
OCLARO, INC.
(Name of Registrant as Specified In Its Charter)
 
n/a
(Name of Person(s) Filing Proxy Statement, if Other Than the Registrant)
Payment of Filing Fee (Check the appropriate box):
x       No fee required.
¨       Fee computed on table below per Exchange Act Rules 14a-6(i)(1) and 0-11.
 
(1)      Title of each class of securities to which transaction applies:
 
 
(2)      Aggregate number of securities to which transaction applies:
 
 
(3)      Per unit price or other underlying value of transaction computed pursuant to Exchange Act Rule 0-11 (set forth the amount on which the filing fee is calculated and state how it was determined):
 
 
(4)      Proposed maximum aggregate value of transaction:
 
 
(5)      Total fee paid:
 
 
¨       Fee paid previously with preliminary materials.
 
 
¨       Check box if any part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and identify the filing for which the offsetting fee was paid previously. Identify the previous filing by registration statement number, or the Form or Schedule and the date of its filing.
(1)      Amount previously paid with preliminary materials:
 
 
(2)      Form, Schedule or Registration Statement No.:
 
 
(3)      Filing Party:
 
 
(4)      Date Filed:







The Amended and Restated Bylaws of Oclaro, Inc. (the “Company”), as currently in effect (the “Current Bylaws”), provide that the Company’s directors will be elected by a plurality vote. At the Company’s annual meeting of stockholders held on January 14, 2014 (the “2013 Annual Meeting”), the Company’s stockholders approved a stockholder proposal that the Board initiate the appropriate process to amend the Company’s articles of incorporation and/or bylaws to provide that director nominees shall be elected by the affirmative vote of the majority of votes cast at an annual meeting of stockholders, with a plurality vote standard retained for contested director elections.

As disclosed in the Company’s proxy statement for its annual meeting of stockholders to be held on November 14, 2014, the Company expected the Board to amend the Current Bylaws to implement a majority voting standard in accordance with the stockholder proposal adopted at the 2013 Annual Meeting.

On October 28, 2014, the Board adopted the Company’s Amended and Restated By-laws (“Restated Bylaws”), to be effective on December 1, 2014. The Restated Bylaws amend the Current Bylaws to provide that director nominees will be elected by the affirmative vote of the majority of votes cast at a meeting of stockholders, with a plurality voting standard retained for contested director elections.

In order to implement the majority voting provision in the Revised Bylaws, the Company also amended its Corporate Governance Guidelines, to be effective on December 1, 2014 (the “Revised Guidelines”). The Revised Guidelines provide that it is the policy of the Board that incumbent director nominees must submit to the Chairman of the Nominating and Corporate Governance Committee of the Board or, in the case of such Chairman, to the Chairman of the Board, an advance irrevocable resignation that is conditioned upon (i) the director’s failure to receive the affirmative vote of the “majority of votes cast” (as defined in the Restated Bylaws) of stockholders for that director in an uncontested election at the next annual meeting for the reelection of such director at which a quorum is present, and (ii) the Board’s acceptance of such resignation. An “uncontested election” means an election where the number of nominees for director does not exceed the number of directors to be elected as of the tenth day preceding the date the Company first mails its notice of meeting for such meeting of the stockholders.