-----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, Ic94Er/eVW8fvv/pgaQDx0/fjCdG1NmFB9vl4Z1RWkjA3S12CbQSjQC37JuuBXNw hZ2ZKhjxHKJm5croPncuqw== 0001104659-11-000194.txt : 20110104 0001104659-11-000194.hdr.sgml : 20110104 20110104113133 ACCESSION NUMBER: 0001104659-11-000194 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20100817 ITEM INFORMATION: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers ITEM INFORMATION: Other Events FILED AS OF DATE: 20110104 DATE AS OF CHANGE: 20110104 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: 11503891 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 a11-1081_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): December 28, 2010 (August 17, 2010)

 

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 or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

 

(c)                                  Effective December 28, 2010, Paul Comeau, the Company’s Executive Director of Operations since May 1, 2009, was named Chief Operating Officer of the Company.  Mr. Comeau has been with the Company since early 2007, initially serving as Director of Solutions Engineering.  He is an accomplished management leader with more than 25 years of achievement.  Prior to joining the Company, he held various senior operations management positions at Black Box Network Services, NextiraOne and Williams Communications.  Mr. Comeau attended the University of Quebec in M ontreal.  He is 55.

 

(e)                                  The Compensation Committee approved a salary adjustment on August 17, 2010 for the Company’s Chief Executive Officer and President, Greg D. Forrest, to an annual salary of $250,000 per year effective September 1, 2010.

 

Effective December 28, 2010, the following salary adjustments and/or compensation awards were granted to the Company’s principal executive officer, principal financial officer and other named executive officer after being conditionally approved by the Compensation Committee on December 9, 2010, subject to the Audit Committee’s receipt of the Company’s final audit results for fiscal 2010.

 

Name & Title

 

Salary
Adjustment

 

2010 Cash
Bonus

 

Restricted
Stock Award
(# of shares)

 

Stock Option
Award
(# of shares)

 

 

 

 

 

 

 

 

 

 

 

Greg Forrest, CEO

 

N/A

(1)

$

49,650

 

5,707

 

85,000

 

 

 

 

 

 

 

 

 

 

 

Robert Wagner, CFO

 

$

155,000

 

$

40,575

 

4,664

 

50,000

 

 

 

 

 

 

 

 

 

 

 

Paul R. Comeau, Chief Operating Officer

 

$

160,000

 

$

26,753

 

3,075

 

50,000

 

 

(1)  Mr. Forrest received a salary adjustment effective September 1, 2010 as reported above.

 

The cash awards to Messrs. Forrest and Wagner were made under the Company’s KEP Plan, and the award to Mr. Comeau was made pursuant to the Company’s agreement with Mr. Comeau as previously disclosed.   These awards will be paid with the Company’s normal payroll cycle on or about January 15, 2011.   The restricted stock and stock option awards were granted under the Company’s 2004 Omnibus Stock Incentive Plan.  The restricted stock will vest in three equal installments on January 15, 2012, 2013 and 2014.  The stock options have a term of six years and are exercisable in three equal annual installments in 2011, 2012 and 2013 on the anniversary date of the date of grant.

 

2


 

Item 8.01   Other Events.

 

On December 28, 2010, the Company named Donald E. Reigel Chief Sales Officer of the Company.  Mr. Reigel has been with the Company since 1993 and has served for the past seven years as an Executive Director of Sales.

 

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: January 3, 2011

By

/s/Robert B. Wagner

 

 

Robert B. Wagner, Chief Financial Officer

 

3

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