-----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, NjoBbZzfUaBFcEKNBWIJEnJ+lPB/50Cw+ELtsGJjM3ajJiJDLV2Qclt5QerrmjHB sX4Ys0GXz/CW8xNXadKfnQ== 0001104659-05-021213.txt : 20050506 0001104659-05-021213.hdr.sgml : 20050506 20050506160524 ACCESSION NUMBER: 0001104659-05-021213 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20050503 ITEM INFORMATION: Other Events FILED AS OF DATE: 20050506 DATE AS OF CHANGE: 20050506 FILER: COMPANY DATA: COMPANY CONFORMED NAME: INFOCUS CORP CENTRAL INDEX KEY: 0000845434 STANDARD INDUSTRIAL CLASSIFICATION: COMPUTER PERIPHERAL EQUIPMENT, NEC [3577] IRS NUMBER: 930932102 STATE OF INCORPORATION: OR FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-18908 FILM NUMBER: 05808059 BUSINESS ADDRESS: STREET 1: 27700B SW PARKWAY AVE CITY: WILSONVILLE STATE: OR ZIP: 97070 BUSINESS PHONE: 5036858888 MAIL ADDRESS: STREET 1: 27700B SW PARKWAY AVE CITY: WILSONVILLE STATE: OR ZIP: 97070 FORMER COMPANY: FORMER CONFORMED NAME: IN FOCUS SYSTEMS INC DATE OF NAME CHANGE: 19930328 8-K 1 a05-8905_18k.htm 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):  May 3, 2005

 

INFOCUS CORPORATION

(Exact name of registrant as specified in its charter)

 

Commission File Number: 000-18908

 

Oregon

 

93-0932102

(State or other jurisdiction of incorporation
or organization)

 

(I.R.S. Employer Identification No.)

 

 

 

27700B SW Parkway Avenue, Wilsonville, Oregon

 

97070

(Address of principal executive offices)

 

(Zip Code)

 

Registrant’s telephone number, including area code: 503-685-8888

 

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 (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 


 

INFOCUS CORPORATION

FORM 8-K
INDEX

 

Item

 

Description

 

 

 

 

 

Item 8.01

 

Other Events

 

 

 

 

 

Signatures

 

 

1


 

Item 8.01  Other Events

 

The Compensation Committee of the Board of Directors of InFocus Corporation (the “Company”) has approved an acceleration of vesting of certain employee stock options with an option price greater than $5.46 (the “Acceleration”). The Acceleration is effective for all employee stock options outstanding as of May 3, 2005, except stock options granted to executives in February 2005 totaling 460,000 options.  Options for 889,633 shares, or 17% of the total outstanding options with varying remaining vesting schedules, were subject to the Acceleration and became immediately exercisable.

 

As a result of the Acceleration, the Company expects to reduce its exposure to the effects of the Financial Accounting Standards Board (“FASB”) new standard requiring companies to recognize stock-based compensation expense associated with stock options based on the fair value method.  The recently issued FASB standard is effective beginning in fiscal 2006.  The Company currently estimates a reduction in stock-based compensation expense associated with the Acceleration of approximately $1.4 million for 2006 and $1.2 million for fiscal 2007.  The Acceleration was approved by the Compensation Committee of the Board of Directors in order to realize the expected reduction in future compensation expense.

 

2


 

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.

 

 

Date:

May 6, 2005

INFOCUS CORPORATION

 

 

By:

  /s/ C. Kyle Ranson

 

 

C. Kyle Ranson

 

Director, President and Chief Executive Officer

 

(Principal Executive Officer)

 

 

 

 

 

By:

  /s/ Michael D. Yonker

 

 

Michael D. Yonker

 

Executive Vice President,

 

Chief Financial Officer and Secretary

 

(Principal Financial Officer)

 

3

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