MIPS » Topics » Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

This excerpt taken from the MIPS 8-K filed Aug 18, 2009.
Item 5.02.   Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
 
Grant to Arthur L. Swift; Form of Stock Unit Award Agreement
 
On August 13, 2009 (the “Grant Date”), the Compensation Committee (“Compensation Committee”) of the Board of Directors of MIPS Technologies, Inc. (the “Company”) approved the entry into a stock unit award agreement with Arthur L. Swift, the Company’s Vice President of Marketing.   Mr. Swift was granted ten thousand (10,000) restricted stock units, to vest over a three (3) year period with one third (1/3rd) of the restricted stock units vesting on the first three annual anniversaries of the Grant Date.  Within thirty (30) days after each annual vesting date, Mr. Swift will receive one share of the Company’s Common Stock for each vested restricted stock unit that has vested on such vesting date (subject to certain exceptions).  The restricted stock units are granted under the Company’s Amended and Restated 1998 Long-Term Incentive Plan.
 
On the Grant Date, the Compensation Committee approved the form of stock unit award agreement for time vesting awards, for use by the Company from time to time in connection with awards of stock units to executive officers, employees or directors, including the grant to Mr. Swift discussed above.  The Company’s form of stock unit award agreement for time vesting awards is attached hereto as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated by reference herein.

This excerpt taken from the MIPS 8-K filed Jul 13, 2009.
Item 5.02(b).   Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
 
On July 9, 2009, registrant’s President and Chief Executive Officer, John Bourgoin, informed the Board of Directors that he intends to retire as an employee of registrant effective December 31, 2009, and that he intends to resign as registrant’s President and Chief Executive Officer at that time, or at such earlier time as registrant may appoint his replacement as principal executive officer.  Mr. Bourgoin continues to serve as a member of registrant’s board of directors.
 
A copy of the press release announcing Mr. Bourgoin's departure is attached as Exhibit 99.01 to this Current Report.
 
This excerpt taken from the MIPS 8-K filed Aug 28, 2007.

Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangement of Certain Officers.

Under the Purchase Agreement, MIPS has agreed to appoint José Epifânio Da Franca, a former shareholder of Chipidea, to the Board of Directors of MIPS (the “Board”) promptly after the Closing.

On August 23, 2007, at a special meeting of the Board, the Board authorized an increase in size of the Board from six (6) members to seven (7) members and to appoint José Epifânio Da Franca as a Class III director of the Company to fill the vacancy. Such appointment became effective as of the Closing.

This excerpt taken from the MIPS 8-K filed May 11, 2007.

Item 5.02.   Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

(b)      On May 7, 2007, Benjamin A. Horowitz informed the Company that he will not stand for re-election to the Board of Directors of the Company at the end of his current term, which expires at the Company's 2006 annual meeting of stockholders. The holding of the 2006 annual meeting has been delayed pending the Company's filing of its Annual Report on Form 10-K for fiscal 2006.


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.

Dated: May 10, 2007

MIPS TECHNOLOGIES, INC.
(Registrant)
 
 
 
By: /s/ MERVIN S. KATO
       Mervin S. Kato
      Chief Financial Officer and Treasurer



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