Current Report Filing (8-k)
November 23 2016 - 3:11PM
Edgar (US Regulatory)
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):
November 17, 2016
Crossroads Systems, Inc.
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(Exact Name of Registrant as Specified in Its Charter)
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Delaware
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001-15331
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74-2846643
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(State or other Jurisdiction of Incorporation)
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(Commission File Number)
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(IRS Employer Identification No.)
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11000 North MoPac Expressway #150, Austin, Texas
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78759
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(Address of Principal Executive Offices)
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(Zip Code)
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Registrant’s telephone number, including
area code:
(512) 928-7335
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(Former name or former address if changed since last report)
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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 follow provisions:
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¨
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Written communications pursuant to Rule 425 under the
Securities Act (17 CFR 230.425)
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¨
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Soliciting material pursuant to Rule 14a-12 under the
Exchange Act (17 CFR 240.14a-12)
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¨
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Pre-commencement communications pursuant to Rule 14d-2(b)
under the Exchange Act (17 CFR 240.14d-2(b))
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¨
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Pre-commencement communications pursuant to Rule 13e-4(c)
under the Exchange Act (17 CFR 240.13e-4(c))
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Item 5.02.
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Departure of Directors or Certain Officers; Election
of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
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On November 17, 2016, the Compensation
Committee of Crossroads Systems, Inc. (the “Company”) approved the award of cash bonus payments under the
Company’s 2016 Management Bonus Program for performance in the fiscal year ended October 31, 2016 for each of
Richard K. Coleman, Jr., the Company’s Chief Executive Officer, Jennifer Crane, the Company’s Chief Financial
Officer, and Mark Hood, the Company’s Executive Vice President of Corporate Development. Mr. Coleman was granted a
bonus of $150,000, Ms. Crane was granted a bonus of $40,500 and Mr. Hood was granted a bonus of $45,000. Each payment
represents a total payout of 50% of the executive’s 2016 bonus opportunity.
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.
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CROSSROADS SYSTEMS, INC.
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Dated: November 22, 2016
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By:
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/s/ Richard K. Coleman, Jr.
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Name:
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Richard K. Coleman, Jr.
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Title:
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President and Chief Executive Officer
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