SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
December 14, 2016
Date of Report (Date of earliest event reported)
Exact Name of Registrant as Specified in its Charter
State of Incorporation
Commission File Number
IRS Employer Identification Number
2015 W. Chestnut Street, Alhambra, CA 91803
Address of principal executive offices, including zip code
Registrant's telephone number, including area code
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))
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On December 14, 2016, the Compensation Committee of the Board of Directors (the “Compensation Committee”) of EMCORE Corporation (the “Company”) approved the EMCORE Corporation Fiscal 2017 Bonus Plan (the “2017 Bonus Plan”), which sets forth the terms of the fiscal 2017 annual incentive bonus opportunity for eligible employees of the Company. Under the 2017 Bonus Plan, the Company’s executive officers are eligible to receive cash bonus awards that are determined based on the achievement of a non-GAAP net income financial performance goal for the Company for the 2017 fiscal year and the participant’s individual performance during the 2017 fiscal year. For the Company’s executive officers, the amount, if any, of the annual cash bonus payable under the 2017 Bonus Plan will be based 80% on the Company’s achievement of a non-GAAP net income target established by the Compensation Committee for fiscal 2017 and 20% on an evaluation of each executive officer’s individual performance measured against pre-established identifiable individual performance goals for the fiscal year. Under the 2017 Bonus Plan, the target bonus opportunity for Jeffrey Rittichier, the Company’s Chief Executive Officer, is 80% of his annual base salary at the end of the fiscal year, and the target bonus opportunity for Jikun Kim, the Company’s Chief Financial Officer, is 50% of his annual base salary at the end of the fiscal year. The amount of cash bonus payable to each executive officer under the 2017 Bonus Plan will range from 0% to 120% of the executive’s target bonus opportunity based on achievement of the applicable Company and individual performance goals. Bonuses, if any, under the 2017 Bonus Plan will be payable in cash after the end of the 2017 fiscal year and no later than March 15, 2018.
The foregoing description of the 2017 Bonus Plan is not complete and is qualified in its entirety by reference to the full text of the 2017 Bonus Plan filed as Exhibit 10.1 to this Current Report on Form 8-K and incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
EMCORE Corporation Fiscal 2017 Bonus Plan
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.
Dated: December 16, 2016
By: /s/ Jikun Kim
Name: Jikun Kim
Title: Chief Financial Officer