-----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, Aw/HpuHHZpXFT9hcpQQk2lsRqQouJsBx5XmgcWZvbPBFSXTXMHetlaJl9440hWLK /dmmwrPbIDD4KbuL2sbraQ== 0001140361-07-014619.txt : 20070724 0001140361-07-014619.hdr.sgml : 20070724 20070724145603 ACCESSION NUMBER: 0001140361-07-014619 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20070724 ITEM INFORMATION: Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers FILED AS OF DATE: 20070724 DATE AS OF CHANGE: 20070724 FILER: COMPANY DATA: COMPANY CONFORMED NAME: APA Enterprises, Inc. CENTRAL INDEX KEY: 0000796505 STANDARD INDUSTRIAL CLASSIFICATION: OPTICAL INSTRUMENTS & LENSES [3827] IRS NUMBER: 411347235 STATE OF INCORPORATION: MN FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-16106 FILM NUMBER: 07995921 BUSINESS ADDRESS: STREET 1: 2950 NE 84TH LN CITY: BLAINE STATE: MN ZIP: 55449 BUSINESS PHONE: 6127844995 MAIL ADDRESS: STREET 1: 2950 NE 84TH LN CITY: BLAINE STATE: MN ZIP: 55449 FORMER COMPANY: FORMER CONFORMED NAME: APA OPTICS INC /MN/ DATE OF NAME CHANGE: 19920703 8-K 1 form8k.htm APA ENTERPRISES 8-K 7-24-2007 form8k.htm
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 Event Reported:  July 24, 2007
 
APA ENTERPRISES, INC.
(Exact name of registrant as specified in its charter)

Minnesota
  
0-16106
  
41-1347235
(State of other jurisdiction of incorporation)
  
(Commission File No.)
  
(IRS Employer Identification Number)
 
2950 NE 84th Lane, Blaine, MN  55449
(Address of principal executive offices) (Zip Code)
 
Registrant's telephone number, including area code: (763) 784-4995
 
(Former name, former address and former fiscal year, if changed since last report): N/A
 
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

Item 5.02(e)                Compensatory Arrangements of Certain Officers
 
On July 24, 2007, our Board of Directors adopted the recommendations of the Compensation Committee compensation for the fiscal year beginning April 1, 2007 for Cheryl Beranek Podzimek,  the president and chief executive officer of the Company.
 
Ms. Podzimek's salary has been set at $150,000 (a 25% increase over her salary for the fiscal year 2007).  The Board also approved a quarterly bonus plan for Ms. Podzimek for the first two quarters of fiscal 2008 up to a maximum total of $10,000 based on attaining certain levels of revenue and/or earnings before interest, taxes, depreciation and amortization (EBITDA).  Metrics for subsequent quarterly and annual bonus plans to be established on or before October 1, 2007. Subsequent quarters’ bonus plans provide for an additional maximum of $10,000 and the annual bonus plan provides for a maximum of $75,000 in addition to the quarterly bonuses.
 
 
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: July 24, 2007
  
APA ENTERPRISES, INC. 
  
         
         
   
By
    /s/ Cheryl Beranek Podzimek     
 
     
Cheryl Beranek Podzimek, Chief Executive Officer (Principal Executive Officer) and authorized signatory
  
 
 
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