8-K

 

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): November 30, 2009

Glu Mobile Inc.
__________________________________________
(Exact name of registrant as specified in its charter)

Delaware	001-33368	91-2143667
_____________________ (State or other jurisdiction	_____________ (Commission	______________ (I.R.S. Employer
of incorporation)	File Number)	Identification No.)
2207 Bridgepointe Parkway, Suite 250, San Mateo, California		94404
_________________________________ (Address of principal executive offices)		___________ (Zip Code)

Registrant’s telephone number, including area code: (650) 532-2400

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:

[  ]  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 November 30, 2009, the Board of Directors of Glu Mobile Inc. ("Glu") appointed William J. Miller as Glu’s interim President and Chief Executive Officer, effective as of December 1, 2009. Mr. Miller replaces Glu’s former President and Chief Executive Officer, L. Gregory Ballard, who also resigned from Glu’s Board of Directors, effective as of December 1, 2009. A copy of the press release relating to Mr. Miller’s appointment is filed as Exhibit 99.01 to this Current Report on Form 8-K and is incorporated herein by reference.

Mr. Miller, age 64, has served as one of Glu’s directors since January 2007 and has served as Co-Chairman of the Board since July 2009. Mr. Miller has acted as an independent director and adviser to a number of technology companies since November 1999. From April 1996 until November 1999, Mr. Miller served as Chairman of the Board and Chief Executive Officer of Avid Corporation, a provider of digital tools for multimedia companies, where he a lso served as President from September 1996 to January 1999. Prior to then, he served as Chief Executive Officer and Chairman of the Board of Quantum Corporation, a data storage manufacturer. He previously held various positions in the data storage, information services and financial services businesses of Control Data Corporation, a computer and data services company. Mr. Miller serves as a director of NVIDIA Corporation, Waters Corporation and Digimarc Corporation. Mr. Miller holds a B.A. in speech communications and a J.D. from the University of Minnesota.

As Glu’s interim President and Chief Executive Officer, Mr. Miller will receive an annual base salary of $375,000 and will be eligible to receive a cash bonus of up to a target of 85% of his annual base salary, pro-rated based on the period of time that he serves as Glu’s interim President and Chief Executive Officer. Mr. Miller also received on December 1, 2009 a non-qualified stock option to purchase 75,000 shares of Glu’ ;s common stock. The stock option has an exercise price of $1.05 per share, which is equal to the closing price of Glu’s common stock on The NASDAQ Global Market on the date of grant, and will vest in equal 25,000 share monthly installments over three months, subject to Mr. Miller’s continued service as Glu’s interim President and Chief Executive Officer. In addition, Glu has agreed to pay customary commuting and temporary housing expenses for Mr. Miller.

Item 9.01 Financial Statements and Exhibits.

99.01 Press Release issued by Glu Mobile Inc., dated December 1, 2009.

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.

	Glu Mobile Inc.
December 1, 2009	By:	/s/ Eric R. Ludwig
		Name: Eric R. Ludwig
		Title: Senior Vice President and Chief Financial Officer

Exhibit Index

Exhibit No.	Description
99.01	Press Release issued by Glu Mobile Inc., dated December 1, 2009.

EX-99.01

Glu Mobile Announces Interim President and Chief Executive Officer

SAN MATEO, Calif., — December 1, 2009 — Glu Mobile Inc. (NASDAQ: GLUU), a leading global publisher of mobile games, today announced that William J. Miller, currently co-Chairman of Glu’s Board of Directors, will assume the position of interim President and Chief Executive Officer effective December 1, 2009. As Glu previously announced on July 8, 2009, Greg Ballard, the company’s current President and Chief Executive Officer, is stepping down to pursue other opportunities. The Board of Directors is continuing its search for a permanent President and Chief Executive Officer and expects a successor to be named in early 2010. Mr. Miller and Daniel Skaff will continue to serve as co-Chairmen of Glu’s Board of Directors during Mr. Miller’s tenure as interim President and Chief Executive Officer.

Bill Miller has served on Glu’s Board of Directors since January 2007 and has served as co-Chairman of the Board of Directors since July 2009. Prior to joining Glu’s Board, he acted as an independent director and adviser to a number of technology companies since November 1999. From April 1996 until November 1999, Mr. Miller served as Chairman of the Board of Directors and Chief Executive Officer of Avid Corporation (NASDAQ: AVID), a provider of digital tools for multimedia companies, where he also served as President from September 1996 to January 1999. Prior to that, he served as Chief Executive Officer and Chairman of the Board of Quantum Corporation (NYSE: QTM), a data storage manufacturer. He previously held various positions in the data storage, information services and financial services businesses of Control Data Corporation, a computer and data services company. Mr. Miller serves as a director of NVIDIA Corporation (NASDAQ: NVDA), Waters Corporation (NYSE: WAT) and Digimarc Corporation (NASDAQ: DMRC). He holds a B.A. in speech communications and a J.D. from the University of Minnesota.

Cautions Regarding Forward-Looking Statements

This news release contains forward-looking statements, including our expectation that we will appoint a permanent President and Chief Executive Officer in early 2010. These forward-looking statements are subject to material risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. These material risks and uncertainties include: the risk that we may be unable to identify and hire a permanent President and Chief Executive Officer by early 2010 or that we may otherwise be unable to effect a smooth transition of the CEO position; the risk that the mobile gaming and social networking gaming markets are not growing at the rate that we anticipate or that we will be unable to capitalize on any such growth; the risk that our expense control initiatives will be insufficient to enable us to achieve positive cash flow from operations for the full fiscal year and beyond; the risk that we may have insufficient working capital to effectively execute our business strategy, including exploiting next-generation and social networking platforms while continuing to address our traditional carrier-based business, and that, even if we do execute our business strategy, we may not derive the revenues that we expect; the risk that we may fall out of compliance with the financial and other covenants in our credit facility; the risk that we may lose a key intellectual property license or key carrier distribution agreement; the risk that growth of next-generation handsets and advanced networks does not grow as significantly as we anticipate; the risk that our development expenses for games for next-generation handsets and social networking platforms are greater than we anticipate; the risk that our recently and newly launched games are less popular than anticipated; the risk that changes in wireless carrier plans with their customers may adversely impact sales of our games; the risk that sales of our original intellectual property titles will not continue to favorably impact product mix; the risk that our newly released games will be of a quality less than desired by reviewers and consumers; the risk that mobile games and social networking gaming markets are smaller than anticipated; and other risks detailed under the caption “Risk Factors” in our Quarterly Report on Form 10-Q for the quarter ended September 30, 2009 filed with the Securities and Exchange Commission on November 9, 2009. You can locate this Form 10-Q through our website at http://www.glu.com/corp/Pages.investors. We are under no obligation, and expressly disclaim any obligation, to update or alter our forward-looking statements whether as a result of new information, future events or otherwise.

About Glu Mobile

Glu (NASDAQ:GLUU) is a leading global publisher of mobile games. Its portfolio of top-rated games includes original titles Bonsai Blast, Brain Genius, Glyder, Stranded and Super K.O. Boxing!, and titles based on major brands from partners including Activision, Atari, Fox Mobile Entertainment, Harrah’s, Hasbro, Konami, Microsoft, PlayFirst, PopCap Games, SEGA, Sony and Warner Bros. Founded in 2001, Glu is based in San Mateo, Calif. and has offices in Australia, Brazil, Canada, Chile, China, England, France, Germany, Italy, Mexico, Poland, Russia and Spain. Consumers can find high-quality, fresh entertainment created exclusively for their mobile phones wherever they see the ‘g’ character logo or at www.glu.com.

GLU MOBILE, GLU, BONSAI BLAST, BRAIN GENIUS, STRANDED, SUPER K.O. BOXING! and the ‘g’ character logo are trademarks of Glu Mobile Inc.

Source: Glu Mobile Inc.

Contacts:

Media:
Dig Communications
Rick Loughery, 415-233-4935
Mobile: 415-377-1586
rloughery@digcommunications.com

or

Investor Relations:
ICR
Seth Potter, 646-277-1230
ir@glu.com