Zhone Technologies 8-K 2006
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): June 29, 2006
ZHONE TECHNOLOGIES, INC.
(Exact Name of Registrant as Specified in its Charter)
7001 Oakport Street
Oakland, California 94621
(Address of Principal Executive Offices, Including Zip Code)
(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:
On June 29, 2006, the Compensation Committee of Zhone Technologies, Inc. (Zhone), which is composed entirely of independent directors, declared a discretionary cash bonus in the amount of $435,000 payable to Zhones Chief Executive Officer, Morteza Ejabat. In light of the recent successful achievement of business goals and other factors, including the individual performance of Mr. Ejabat relative to Zhones key strategic objectives, Mr. Ejabats role in the sale of Zhones non-strategic patents, and Mr. Ejabats role in expanding Zhones customer base, the Compensation Committee determined that a cash bonus was consistent with its objective to attract, retain and motivate Zhones Chief Executive Officer.
On June 29, 2006, Zhones Chief Executive Officer, Morteza Ejabat, made a charitable donation of 100,000 shares of Zhone common stock personally owned by him to The California State University, Northridge Foundation.
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.