-----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, HP7I+MyzWDy6tpkdWUYdqWOepyWIf0Tv0VKi7V8UOcM/Auj8BVVfvZrgOPMGLZfe BuGPVqS87TjeZTRlScZJkA== 0001104659-07-053375.txt : 20070711 0001104659-07-053375.hdr.sgml : 20070711 20070711154121 ACCESSION NUMBER: 0001104659-07-053375 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20070705 ITEM INFORMATION: Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers ITEM INFORMATION: Other Events FILED AS OF DATE: 20070711 DATE AS OF CHANGE: 20070711 FILER: COMPANY DATA: COMPANY CONFORMED NAME: XETA TECHNOLOGIES INC CENTRAL INDEX KEY: 0000742550 STANDARD INDUSTRIAL CLASSIFICATION: TELEPHONE & TELEGRAPH APPARATUS [3661] IRS NUMBER: 731130045 STATE OF INCORPORATION: OK FISCAL YEAR END: 1031 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-16231 FILM NUMBER: 07974268 BUSINESS ADDRESS: STREET 1: 1814 WEST TACOMA CITY: BROKEN ARROW STATE: OK ZIP: 74012 BUSINESS PHONE: 9186648200 MAIL ADDRESS: STREET 1: 1814 WEST TACOMA CITY: BROKEN ARROW STATE: OK ZIP: 74012 FORMER COMPANY: FORMER CONFORMED NAME: XETA CORP DATE OF NAME CHANGE: 19920703 8-K 1 a07-18548_18k.htm CURRENT REPORT OF MATERIAL EVENTS OR CORPORATE CHANGES

 

 

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 and Exchange Act of 1934

Date of Report (Date of earliest event reported):   July 5, 2007

XETA Technologies, Inc.

(Exact name of registrant as specified in its charter)

 

 

 

 

 

Oklahoma

 

0-16231

 

73-1130045

(State or other jurisdiction

 

(Commission

 

(IRS Employer

of Incorporation)

 

File Number)

 

Identification No.)

 

 

 

 

 

1814 West Tacoma, Broken Arrow, Oklahoma

 

74012

(Address of principal executive offices)

 

(Zip Code)

 

 

 

 

 

Registrant’s telephone number, including area code:          918-664-8200

 

 

 

 

 

(Former name or 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:

o Written communications pursuant to Rule 425 under the Securities Act

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act

 



Item 5.02    Departure of Directors of Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On July 5, 2007, the Company’s Compensation Committee approved the grant of stock options under the Company’s 2004 Omnibus Stock Incentive Plan (the “Plan”) to the following executive officers:

·                  Greg D. Forrest, President                                  – 40,000 shares

·                  Robert B. Wagner, Chief Financial Officer       – 25,000 shares

Each of these options vest on January 5, 2011 (3 ½ years after the date of grant) and have a term of seven (7) years from the date of grant.  The exercise price is $3.25 per share, the Fair Market Value (as defined in the Plan) of the Company’s stock on the date of grant.

Also on July 5, 2007, the Compensation Committee approved a $1,000 per month increase in salary for Greg Forrest, the Company’s newly appointed Chief Executive Officer and President, bringing his annual salary to $197,000.

Item 8.01   Other Events.

On July 5, 2007, the Company’s Compensation Committee also approved the grant of a stock option under the Plan to purchase 25,000 shares of the Company’s Common Stock to Don Duke, the Company’s new non-executive Chairman of the Board of Directors.  The exercise price is $3.25 per share.  The option vests over a two-year period on the following schedule:  12,500 shares are exercisable on July 5, 2008 (the first anniversary of the date of grant), and the balance are exercisable on July 5, 2009.  The option expiration date is July 5, 2014 (seven years from the date of grant).

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.

XETA Technologies, Inc.

 

 

  (Registrant)

 

 

 

 

 

 

 

 

 

Dated:   July 11, 2007

By

     /s/ Robert B. Wagner

 

 

 

Robert B. Wagner, Chief Financial Officer

 

 

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