Westell Technologies 8-K 2011
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): April 4, 2011
WESTELL TECHNOLOGIES, INC.
(Exact name of registrant as specified in charter)
Registrants telephone number, including area code (630) 898-2500
(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):
On April 4, 2011, the Compensation and Corporate Governance Committee of the Board of Directors of Westell Technologies, Inc. (the Company) granted restricted stock units (the RSU Grant) to each of Mr. Richard S. Gilbert (Chairman, President and CEO of the Company) and Mr. Brian S. Cooper (Senior Vice President, CFO, Treasurer and Secretary of the Company). Mr. Gilbert was awarded 300,000 restricted stock units and Mr. Cooper was awarded 100,000 restricted stock units. Twenty-five percent of the RSU Grant will vest on April 4, 2012, 25% will vest on April 4, 2013, 25% will vest on April 4, 2014 and the remaining 25% will vest on April 4, 2015. Upon vesting, the RSU Grant converts into shares of Class A Common Stock of the Company on a one-for-one basis.
A copy of the form of award relating to the RSU Grant is attached hereto as Exhibit 10.1 and is incorporated herein by reference.
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.