-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, L9gyDTn0suy+LWZjZsbdcmUuY2ZSHlUthjqBeRWvhsKsQ+tPWiQa85jqqngOXuQr z5NWD2lOELUl0nWDX/3dIQ== 0001193125-09-261088.txt : 20091229 0001193125-09-261088.hdr.sgml : 20091229 20091229154812 ACCESSION NUMBER: 0001193125-09-261088 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20091222 ITEM INFORMATION: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20091229 DATE AS OF CHANGE: 20091229 FILER: COMPANY DATA: COMPANY CONFORMED NAME: U.S. Auto Parts Network, Inc. CENTRAL INDEX KEY: 0001378950 STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-AUTO & HOME SUPPLY STORES [5531] IRS NUMBER: 680623433 STATE OF INCORPORATION: DE FISCAL YEAR END: 0102 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-33264 FILM NUMBER: 091263972 BUSINESS ADDRESS: STREET 1: 17150 SOUTH MARGAY AVENUE CITY: CARSON STATE: CA ZIP: 90746 BUSINESS PHONE: (310) 715-6666 MAIL ADDRESS: STREET 1: 17150 SOUTH MARGAY AVENUE CITY: CARSON STATE: CA ZIP: 90746 8-K 1 d8k.htm FORM 8-K Form 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): December 22, 2009

 

 

U.S. AUTO PARTS NETWORK, INC.

(Exact name of registrant as specified in its charter)

 

 

 

Delaware   001-33264   68-0623433

(State or other jurisdiction

of incorporation)

  (Commission File Number)  

(IRS Employer

Identification No.)

 

17150 South Margay Avenue, Carson, CA   90746
(Address of principal executive offices)   (Zip Code)

Registrant’s telephone number, including area code (310) 735-0085

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 December 22, 2009, the Compensation Committee of the Board of Directors of U.S. Auto Parts Network, Inc. established the 2010 annual base salaries for certain of the Company’s officers identified on Exhibit 10.1 (collectively, the “Officers”). The 2010 base salaries for the Officers, effective January 1, 2010, are listed in Exhibit 10.1 to this report and are incorporated herein by reference.

In addition, on December 22, 2009, the Compensation Committee also established the target discretionary cash bonuses for the Officers for 2010, which also are set forth on Exhibit 10.1 to this report and are incorporated herein by reference. The cash bonuses are payable at the discretion of the Compensation Committee and are based upon meeting a combination of revenue and EBITDA thresholds.

 

Item 9.01 Financial Statements and Exhibits

(d) Exhibits. The following exhibits are filed with this Current Report on Form 8-K:

 

Exhibit
No.

  

Description

10.1    2010 Base Salaries and Target Bonuses of Certain Officers.


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.

 

Dated: December 29, 2009   U.S. AUTO PARTS NETWORK, INC.
  By:  

/s/    SHANE EVANGELIST        

    Shane Evangelist
    Chief Executive Officer

 


EXHIBIT INDEX

 

Exhibit
No.

  

Description

10.1    2010 Base Salaries and Target Bonuses of Certain Officers.
EX-10.1 2 dex101.htm 2010 BASE SALARIES AND TARGET BONUSES OF CERTAIN OFFICERS 2010 Base Salaries and Target Bonuses of Certain Officers

Exhibit 10.1

2010 Base Salaries and Target Discretionary Bonuses

 

Officer

  

Position

   Maximum
Base Salary
   Target
Discretionary Bonus
 

Shane Evangelist

   Chief Executive Officer    $ 367,770    $ 294,216 1 

Ted Sanders

   Chief Financial Officer    $ 307,500    $ 153,750 1 

Aaron Coleman

   Executive Vice President of Operations and Chief Information Officer    $ 284,040    $ 142,020 1 

Houman Akhavan

   Vice President of Marketing    $ 261,000    $ 95,000   

Charlie Fischer

   Senior Vice President of Global Procurement    $ 220,500    $ 90,000   

 

1

Each of Messrs. Evangelist, Sanders and Coleman elected to have his bonus paid 50% in cash and 50% common stock of the Company, with the number of shares determined by the closing price on January 4, 2010. For example, if the closing price of our stock on January 4, 2010 is $5.00 per share, and all target thresholds are met, Mr. Evangelist’s bonus would be comprised of $147,108 in cash, and 29,421 shares of common stock.

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