Cymer 8-K 2012
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of report (Date of earliest event reported): February 29, 2012
(Exact name of registrant as specified in its charter)
17075 THORNMINT COURT
SAN DIEGO, CALIFORNIA 92127
(Address of principal executive offices)
(Registrants telephone number, including area code)
(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):
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
(e) On February 29, 2012, the Compensation Committee of our Board of Directors (Compensation Committee) approved individual equity awards under our Long-Term Incentive Bonus Program for 2012. The equity awards are comprised of performance restricted stock unit (PRSU) awards and restricted stock unit (RSU) awards. The shares subject to the PRSU awards are subject to adjustment based on the level of our achievement of several financial and operational performance measures during 2012. The adjusted number of shares, if any, vest and become issuable in three equal installments with the initial installment vesting upon the later of the determination of our level of achievement or the first anniversary of the grant date and the second and third installments vesting on March 1, 2014 and 2015, respectively. The shares subject to the RSU awards vest and become issuable in three equal annual installments beginning March 1, 2013.
The awards granted to our named executive officers are as follows:
On February 29, 2012, the Compensation Committee also approved an amendment to our Short-Term Incentive Bonus Plan (STIP), to provide that the aggregate STIP bonus pool, combined with amounts under our Profit Sharing Plan for a fiscal year, together may not exceed 20% of such fiscal years adjusted EBITDA (earnings, before interest, taxes, depreciation, amortization, stock-based compensation expense and cash bonus expenses).
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.