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): | July 6, 2011 |
Energy Focus, Inc.
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(Exact name of registrant as specified in its charter)
| Delaware | 0-24230 | 94-3021850 |
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_____________________ (State or other jurisdiction |
_____________ (Commission |
______________ (I.R.S. Employer |
| of incorporation) | File Number) | Identification No.) |
| 32000 Aurora Road, Solon, Ohio | 44139 | |
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_________________________________ (Address of principal executive offices) |
___________ (Zip Code) |
| Registrant’s telephone number, including area code: | 440-715-1300 |
Not Applicable
______________________________________________
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:
[ ] 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.
On July 6, 2011, Energy Focus, Inc. (the "Company") announced the appointment of Mark J. Plush, age 62, as its Vice President of Finance and Chief Financial Officer. Mr. Plush brings over 28 years of financial management experience with Keithley Instruments, the last twelve years as Vice President and Chief Financial Officer.
Under an offer letter dated June 22, 2011, Mr. Plush will receive an annual salary of $175,000 and will be entitled to the Company’s standard employee benefit package. Mr. Plush’s employment will be "at will", so that either party may terminate the relationship at any time for any reason.
The Board of Directors has granted Mr. Plush the option to purchase 200,000 shares of the Company’s common stock through the Company’s Incentive Stock Option Plan. The options will vest over four years.
Other than the June offer letter as described above, there have been no arrangements or understandings between Mr. Plush and any other person relating to his appointment. There have been no transactions since the beginning of the Company’s 2011 fiscal year, or before, and none are currently proposed, between Mr. Plush and us or any of our directors or executive officers. There is no family relationship between Mr. Plush and any of our directors or executive officers.
Item 7.01 Regulation FD Disclosure.
On July 6, 2011, the Company issued a press release announcing the change in our chief financial officer. A copy of that press release is furnished as Exhibit 99.1 to this report.
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.
| Energy Focus, Inc. | ||||
| July 6, 2011 | By: |
Joseph G. Kaveski
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| Name: Joseph G. Kaveski | ||||
| Title: Chief Executive Officer | ||||
Exhibit Index
| Exhibit No. | Description | |
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99.1
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Press Release dated July 6, 2011 |
Energy Focus Names Mark Plush Chief Financial Officer
Former CFO of Keithley Instruments, Inc. brings broad financial expertise to EFOI
SOLON, Ohio— SOLON, Ohio July 6, 2011 — Energy Focus, Inc. (NASDAQ: EFOI), a global leader in energy efficient lighting, today announced the appointment of Mark J. Plush as Vice President of Finance and Chief Financial Officer. Mr. Plush brings over 28 years of financial management experience with Keithley Instruments, the last twelve years as Vice President and Chief Financial Officer. Prior to his role as CFO for Keithley Instruments, Mr. Plush served as Corporate Controller for sixteen years.
Under Mr. Plush’s financial guidance, Keithley grew to be a highly profitable business reporting $25 million in income on $127 million of revenue in 2010. On December 8, 2010, Danaher Corporation (NYSE:DHR) acquired Keithley for $21.60 per share in cash or an enterprise value of approximately $300 million.
“We are extremely pleased to have an executive with Mark’s credentials join our team”, said Joe Kaveski, CEO of Energy Focus. “His demonstrated financial skills in growing a high technology business coupled with his proven record of successfully growing shareholder value will prove highly valuable to Energy Focus and its shareholders.”
Mr. Plush commented, “I am very excited to be joining the Energy Focus team and look forward to contributing to its success.”
About Energy Focus, Inc.
Energy Focus, Inc. is a leading provider of energy efficient lighting products and turnkey energy efficient lighting solutions, holding 74 relevant lighting patents. Our solutions provide energy savings, aesthetics, safety and maintenance cost benefits over conventional lighting. Our long-standing relationship with the U.S. Government includes numerous research and development projects for the DOE and DARPA, creating energy efficient LED lighting systems for the U.S. Navy fleet. Customers include supermarket chains, the U.S. government, state and local governmental agencies, retail stores, museums, theme parks and casinos, hotels, swimming pool builders and many others. Company headquarters are located in Solon, OH, with additional offices in Nashville, TN, Pleasanton, CA, and the United Kingdom. For more information, see www.energyfocusinc.com.
Forward-looking statements in this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. For more information about potential factors that could affect Energy Focus please refer to the Company’s SEC reports, including its Annual Reports on Form 10-K and its quarterly reports on Form 10-Q. These forward-looking statements speak only as of the date hereof. Energy Focus disclaims any intention or obligation to update or revise any forward-looking statements.
Energy Focus Inc. Media Contact:
Public Relations Office
(440) 715-1295
pr@energyfocusinc.com