-----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, CDHj27FenACIbVmiHC0ay9Vgl7G9XLYl//42WH/rf1VmTCAB+Kzotg+kz0CewmSE nDqz4goHpSVrD0UdRIS2/Q== 0000896841-09-000033.txt : 20090803 0000896841-09-000033.hdr.sgml : 20090801 20090803163304 ACCESSION NUMBER: 0000896841-09-000033 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20090728 ITEM INFORMATION: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20090803 DATE AS OF CHANGE: 20090803 FILER: COMPANY DATA: COMPANY CONFORMED NAME: AVID TECHNOLOGY, INC. CENTRAL INDEX KEY: 0000896841 STANDARD INDUSTRIAL CLASSIFICATION: PHOTOGRAPHIC EQUIPMENT & SUPPLIES [3861] IRS NUMBER: 042977748 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-21174 FILM NUMBER: 09980594 BUSINESS ADDRESS: STREET 1: ONE PARK WEST CITY: TEWKSBURY STATE: MA ZIP: 01876 BUSINESS PHONE: 9786406789 MAIL ADDRESS: STREET 1: ONE PARK WEST CITY: TEWKSBURY STATE: MA ZIP: 01876 FORMER COMPANY: FORMER CONFORMED NAME: AVID TECHNOLOGY INC DATE OF NAME CHANGE: 19930203 8-K 1 f8k_080309.htm FORM 8K, DTD AUGUST 3, 2009

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

___________

 

FORM 8-K

 

CURRENT REPORT

 

PURSUANT TO SECTIONS 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

 

Date of report (Date of earliest event reported): July 28, 2009

 

AVID TECHNOLOGY, INC.

(Exact Name of Registrant as Specified in Its Charter)

 

Delaware
(State or Other Jurisdiction of
Incorporation or Organization)

0-21174  
(Commission File Number) 

04-2977748
(I.R.S. Employer
 Identification No.)

 


One Park West, Tewksbury, MA
(Address of Principal Executive Offices)


01876
(Zip Code)


Registrant’s telephone number, including area code: (978) 640-6789


                                                                                                               
(Former Name or Former 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 (see General Instruction A.2. below):

 

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))

 


Item 5.02.

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

 

(d)          On July 28, 2009, the Board of Directors (the “Board”) of Avid Technology, Inc. (the “Company”), based upon a recommendation from the Nominating and Governance Committee of the Board, elected David B. Mullen as a Class III Director of the Company to fill the existing vacancy on the Board with a term expiring at the Company’s 2011 Annual Meeting of Stockholders. Mr. Mullen will serve on the Audit Committee of the Board.

 

In accordance with the Company’s director compensation program, Mr. Mullen will receive an annual retainer of $45,000 for his service on the Board and an annual retainer of $7,500 for his service on the Audit Committee. He will also receive $3,000 for each Board and Audit Committee meeting that he attends. In addition, Mr. Mullen, upon his election to the Board, was granted 2,000 restricted stock units, with each unit representing the right to receive one share of the Company’s common stock, $.01 par value per share (“Common Stock”), and an option to purchase 7,000 shares of the Company’s Common Stock at an exercise price per share of $12.45. The restricted stock units and the option will vest in full on the first anniversary of the date of grant. As an outside director, Mr. Mullen will also be entitled to receive an option to purchase shares of the Company’s Common Stock, restricted stock awards and/or restricted stock unit awards on the date of each annual meeting of the Company’s stockholders, provided that he has then served a minimum of six months on the Board, pursuant to the terms of the Company’s Amended and Restated 2005 Stock Incentive Plan.

 

The full text of the press release announcing the election of Mr. Mullen to the Board is furnished as Exhibit 99.1 to this Current Report on Form 8-K.

 

Item 9.01.

Financial Statements and Exhibits

 

(d)

Exhibits.

 

 

99.1

Press Release issued by the Company on August 3, 2009.

 

2

 


SIGNATURE

 

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: August 3, 2009

AVID TECHNOLOGY, INC.
(Registrant)

 


By:


/s/ Paige Parisi                                         
Paige Parisi
Vice President and General Counsel

 

 

 

 

 

3

 


EXHIBIT INDEX

 

 

Exhibit No.

 

Description

 

 

 

99.1

 

Press release issued by the Company dated August 3, 2009.

 

 

 

 

 

 

 

4

 

 

EX-99 2 exhibit_99-1.htm EXHIBIT 99.1, PRESS RELEASE DTD AUGUST 3, 2009

Exhibit 99.1


 

PR Contact:

Christi Dean, Avid, 978-640-5147, christi.dean@avid.com

IR Contact:

Tom Fitzsimmons, Avid, 978-640-3346, tom.fitzsimmons@avid.com

 

For Immediate Release

Avid Announces the Election of David Mullen to its Board of Directors

Tewksbury, MA, August 3, 2009 – Avid® (NASDAQ: AVID) today announced that its board of directors has elected David Mullen as a Class III director of the company to fill an existing vacancy on the board. His term will expire at the company's 2011 annual meeting of stockholders.

 

Mr. Mullen is executive vice president and chief financial officer of NAVTEQ, a leading global provider of digital map, traffic and location data for in-vehicle, portable, wireless and enterprise solutions. Mr. Mullen has served as CFO for NAVTEQ, previously Navigation Technologies, since 2002. NAVTEQ was acquired by Nokia Corporation in July 2008. Prior to joining NAVTEQ, Mr. Mullen served as CFO for Allscripts Healthcare Solutions, Inc. and Enterprise Systems, Inc., both technology-based businesses. He began his career at Arthur Young & Company, which is now Ernst & Young.

 

"We are pleased to welcome David to our board," said Gary Greenfield, Avid's chairman and CEO. “With an accomplished history of working with global, public companies in the technology domain, he brings experience and perspective that will be of great value to Avid."

 

Currently, Mr. Mullen also serves as a director of eLoyalty Corporation, a provider of integrated contact solutions and behavioral analytics services and solutions. He holds a M.B.A. from the Wharton School at the University of Pennsylvania and a bachelor’s degree from Princeton University.

 

About Avid

Avid creates the digital audio and video technology used to make the most listened to, most watched and most loved media in the world – from the most prestigious and award-winning feature films, music recordings, television shows, live concert tours and news broadcasts, to music and movies made at home.  Some of Avid’s most influential and pioneering solutions include Media Composer®, Pro Tools®, Avid Unity™, Interplay®, Oxygen 8, Sibelius® and Pinnacle Studio™. For more information about Avid solutions and services, visit www.avid.com, del.icio.us, Flickr, Twitter and YouTube; connect with Avid on Facebook; or subscribe to Avid Industry Buzz.

 

© 2009 Avid Technology, Inc. All rights reserved. Avid, the Avid Logo, Pinnacle Studio, Avid Unity, Interplay, Media Composer, Pro Tools and Sibelius are trademarks or registered trademarks of Avid Technology, Inc. or its subsidiaries in the United States and/or other countries. The Interplay name is used with the permission of Interplay Entertainment Corp., which bears no responsibility for Avid products. All other trademarks are the property of their respective owners.

 

 

 

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