8-K 1 dyn8k061208.txt DYNASIL CORPORATION OF AMERICA 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 Act of 1934 Date of Report (Date of earliest event reported) June 12, 2008 -------------------------- Dynasil Corporation of America ------------------------------------------------------ (Exact name of registrant as specified in its charter) New Jersey 000-27503 22-1734088 --------------------------- ---------- ----------- (State or other (Commission (IRS Employer jurisdiction of incorporation) File Number) Identification No.) 385 Cooper Road, West Berlin, New Jersey 08091 ----------------------------------------------------- (Address of principal executive offices) (ZIP Code) Registrant's telephone number, including area code: (856)-767-4600 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 (see General Instructions A.2. below): [] 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)) Section 1 - Registrant's Business and Operations Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On June 12, 2008, the Registrant, Dynasil Corporation of America ("Dynasil"), entered into an arrangement whereby Mr. Peter Sulick, age 57, of Naples, FL agreed to become a Dynasil director for an initial partial one-year term that expires at the next annual shareholders meeting planned for February 2009. The Dynasil Board of Directors passed resolutions to increase the number of Directors from three to four and voted to appoint Mr. Sulick to fill the fourth Director position. Mr. Sulick will become Chairperson of the Audit Committee for Dynasil's Board of Directors' and its Financial Expert. On June 12, 2008, a press release was issued regarding this appointment. The information set forth in that press release, which is filed as an exhibit to this Report, is incorporated herein by reference. Mr. Sulick is currently President and CEO of AmeriSite, LLC, a family owned real estate development and investment company. Mr. Sulick's business background includes the founding of Independence Broadcasting Corporation, PowerFone Inc., SSPCS Corp. and AmeriSite, LLC. He has a particular experience in building media and technology companies, executing their business strategies and building operations. He has held chief executive officer, chief financial officer and corporate controller positions. His financial experience includes an initial public offering, numerous large debt and equity financings, franchising and a $350 million leveraged buy- out. Since 1985, Mr. Sulick has founded and led telecommunications companies that were later acquired by Nextel and T-Mobile. In the early part of his career, Mr. Sulick was a principal financial officer for Cablevision Systems and has also held several senior-level financial positions at the Communications Operations Group of ITT. He began his career in the audit department at Arthur Andersen & Co, in New York City following graduate school. He was a certified public accountant who earned his MBA in finance from the University of Massachusetts and a B.S. in Business Administration from The Citadel. Mr. Sulick has been a significant investor in Dynasil since 2005. In connection with his appointment as a director, Mr. Sulick has been granted options to acquire over a five year period up to 80,000 shares of Dynasil common stock at an exercise price of $3.09 per share. For acting as Chairperson of the Audit Committee of the Board of Directors and its Financial Expert, Mr. Sulick will receive a $5,000 retainer in addition to the normal compensation that Dynasil pays to its outside directors. As is the case with other outside directors, Mr. Sulick also will be eligible to receive option grants at the discretion of the Board of Directors. Section 9 - Financial Statements and Exhibits Item 9.01. Financial Statements and Exhibits. EXHIBIT INDEX (c) Exhibits 99 Press Release dated June 12, 2008 relating to the appointment of Peter Sulick as a Dynasil Director. 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. DYNASIL CORPORATION OF AMERICA (Registrant) Date: June 12, 2008 By: /s/ Craig T. Dunham Craig T. Dunham President