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 14, 2008 (November 7, 2008)
CAPSTONE TURBINE CORPORATION
(Exact name of registrant as specified in its charter)
|
|
|
|
|
Delaware
|
|
001-15957
|
|
95-4180883 |
(State or other jurisdiction
|
|
(Commission File Number)
|
|
(I.R.S. Employer |
of incorporation)
|
|
|
|
Identification No.) |
21211 Nordhoff Street, Chatsworth, California 91311
(Address of principal executive offices)
(818) 734-5300
(Registrants 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))
|
1
|
|
|
Item 5.02 |
|
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain
Officers; Compensatory Arrangements of Certain Officers. |
Departure of Leigh L. Estus
On November 7, 2008, Leigh L. Estus resigned from his position as Senior Vice President of
Operations of Capstone Turbine Corporation (the Company) in order to pursue other opportunities.
The resignation of Mr. Estus will be effective as of December 1, 2008.
Appointment of Mark G. Gilbreth
Effective as of November 10, 2008, Mark G. Gilbreth, 36, assumed the responsibilities of
Executive Vice President of Operations and Chief Technology Officer. Mr. Gilbreth joined the
Company in August 1995 and has held positions in Engineering, Program Management and Customer
Service. He served as Vice President of Engineering Technologies from February 2005 until April
2006. Mr. Gilbreth served as Executive Vice President and Chief Operating Officer from April 2006
until February 2007. During that time, he held the position of Interim President and Chief
Executive Officer from July 2006 until December 2006. Mr. Gilbreth has served as Executive Vice
President and Chief Technology Officer since February 2007. Mr. Gilbreth received his Bachelor
degree in Computer Science from San Diego State University.
Mr. Gilbreth will receive an increase in annual salary from $247,400 to $275,000. In
addition, he will receive, pursuant to the Companys 2000 Equity Incentive Plan, a ten-year stock
option grant to purchase 150,000 shares of the common stock of the Company at a purchase price of
the fair market value of the Companys common stock at the close of market on November 7, 2008 with
25% vesting on the first anniversary date and the rest becoming vested pro rata each month over the
next 36 months and a restricted stock grant of 25,000 restricted stock units subject to four-year
annual vesting of 25%.
2