ZipRealty 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): March 8, 2012
Item 1.01. Entry into a Material Definitive Agreement.
On March 8,2012, the Board of Directors of ZipRealty, Inc. (the “Company”) adopted an amendment under Section 10(f) of the Company’s 2004 Equity Incentive Plan and revised the Company’s Director Compensation Policy to increase the annual automatic stock option grant for the Company’s Chairman of the Board from 6,666 shares to 10,000 shares. Copies of the amendment and the revised Director Compensation Policy are filed as exhibits to this report.
Item 8.01. Other Events.
On March 8, 2012, the Company’s Board of Directors approved a stock option grant to each non-employee director for 50,000 shares at an exercise price of $1.25 per share, which was the closing price of the Company’s common stock on the NASDAQ Stock Market on the date of grant. Each option vests in full on the first anniversary of the date of grant, subject to the director’s continued service to the Company on that date. Each option was granted under and is governed by the terms of the Company’s 2004 Equity Incentive Plan.
Item 9.01 Financial Statements and Exhibits.
10.3(b) First Amendment under 2004 Equity Incentive Plan
10.5(a) Director Compensation Policy, revised March 8, 2012
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
INDEX TO EXHIBITS