0000922423-11-000341.txt : 20110822 0000922423-11-000341.hdr.sgml : 20110822 20110822161600 ACCESSION NUMBER: 0000922423-11-000341 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20110816 ITEM INFORMATION: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers FILED AS OF DATE: 20110822 DATE AS OF CHANGE: 20110822 FILER: COMPANY DATA: COMPANY CONFORMED NAME: DIRECT INSITE CORP CENTRAL INDEX KEY: 0000879703 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-COMPUTER INTEGRATED SYSTEMS DESIGN [7373] IRS NUMBER: 112895590 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-20660 FILM NUMBER: 111050053 BUSINESS ADDRESS: STREET 1: 13450 WEST SUNRISE BOULEVARD STREET 2: SUITE 510 CITY: SUNRISE STATE: FL ZIP: 33323 BUSINESS PHONE: 631-873-2900 MAIL ADDRESS: STREET 1: 13450 WEST SUNRISE BOULEVARD STREET 2: SUITE 510 CITY: SUNRISE STATE: FL ZIP: 33323 FORMER COMPANY: FORMER CONFORMED NAME: COMPUTER CONCEPTS CORP /DE DATE OF NAME CHANGE: 19930328 8-K 1 kl08015.htm CURRENT REPORT kl08015.htm

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 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):  August 16, 2011
 
               
 
DIRECT INSITE CORP.
(Exact Name of Registrant as Specified in Charter)

Delaware
0-20660
11-2895590
(State or Other Jurisdiction
of Incorporation)
(Commission File Number)
(I.R.S. Employer
Identification No.)

13450 West Sunrise Boulevard, Suite 510, Sunrise, Florida
(Address of Principal Executive Offices)
  
 
33323
(Zip Code)

Registrant’s telephone number, including area code:  (631) 873-2900
 

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 Instruction A.2. below):

r
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
r
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 
r
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 
r
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.
 
On August 16, 2011, the Compensation Committee of the Board of Directors of the Registrant determined to increase the annual base of Matthew E. Oakes, Chief Executive Officer, to $250,000 per annum, effective August 16, 2011 and continuing through December 31, 2011. The Compensation Committee also determined to grant to Mr. Oakes options to purchase an aggregate of 22,500 shares of the Registrant’s common stock, at an exercise price equal to the price of the Registrant’s common stock at the close of trading on the date of grant, 2,500 of such options to vest on the date of grant and the remaining 20,000 options to vest in four equal installments on September 1, October 1, November 1 and December 1, 2011.
 


 
 
 

SIGNATURE
 
Pursuant to the requirements of the Securities Exchange Act of 1934, Direct Insite Corp. has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 

 
DIRECT INSITE CORP
 
 
 
/s/ Michael J. Beecher              
Michael J. Beecher
Chief Financial Officer
 
Dated:  August 22, 2011