8-K 1 a05-1267_18k.htm 8-K

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C.  20549

 

FORM 8-K

 

CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported):  January 4, 2005

 

SILICON IMAGE, INC.

(Exact name of Registrant as specified in its charter)

 

Delaware

(State or other jurisdiction of incorporation)

 

000-26887

 

77-0396307

(Commission
File Number)

 

(IRS Employer
Identification No.)

 

 

 

1060 East Arques Ave., Sunnyvale, CA

 

94085

(Address of principal executive offices)

 

(Zip Code)

 

 

 

(408) 616-4000

(Registrant’s telephone number)

 

Not Applicable

(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:

 

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 


 

ITEM 1.01.            Entry into a Material Definitive Agreement.

 

Effective January 4, 2005, the Compensation Committee of the Board of Directors of Silicon Image, Inc. (“Silicon Image”) granted option grants to purchase shares of common stock of Silicon Image for certain of its executive officers (the “Executive Option Grants”).  The Executive Option Grants are made pursuant to Silicon Image’s 1999 Equity Incentive Plan, which has been approved by Silicon Image’s stockholders.

 

Pursuant to the Executive Option Grants Silicon Image granted options to purchase an aggregate of 465,000 shares of Silicon Image common stock.  All shares being issued pursuant to the Executive Option Grants have an exercise price of $15.48, the closing price of Silicon Image’s common stock on the Nasdaq National Market on the effective date of the grants.

 

Information on the Executive Option Grants is as follows:

 

Named Executive
Officer/Position

 

Shares

 

Vesting Schedule*

 

Exercise Price

 

Expiration of
Option

 

Robert Bagheri
Executive Vice
President,
Operations

 

75,000

 

 

13.3% by January 4, 2006;
13.3% by January 4, 2007;
40.0% by January 4, 2008;
13.3% by January 4, 2009; and
20.0% by January 4, 2010

 

$15.48

 

01/03/2015

 

John LeMoncheck
Vice President,
Consumer
Electronics Products
and PC/Display
Businesses

 

150,000

 

 

20.0% by January 4, 2006;
10.0% by January 4, 2007;
33.3% by January 4, 2008;
16.7% by January 4, 2009; and
20.0% by January 4, 2010

 

$15.48

 

01/03/2015

 

J. Duane Northcutt
Chief Technology
Officer

 

120,000

 

 

25.0% by January 4, 2006;
25.0% by January 4, 2007;
16.7% by January 4, 2008;
16.7% by January 4, 2009; and
16.7% by January 4, 2010

 

$15.48

 

01/03/2015

 

Steve Tirado
Division President,
Storage Group

 

120,000

 

 

Vesting for this grant begins
January 5, 2007; 8.3% by
January 4, 2008; 58.3% by
January 4, 2009; and 33.3% by
January 4, 2010

 

$15.48

 

01/03/2015

 

TOTAL

 

465,000

 

 

 

 

 

 

 

 

 

*            Except as otherwise noted, a percentage of the total shares granted to each individual vests month anniversary following the effective date of the grant, January 4, 2005.  Percentages are approximate.

 

The form of notice of option grant and stock option agreement that the executive officers received for their respective Executive Option Grants pursuant to Silicon Image’s 1999 Equity Incentive Plan is attached hereto as Exhibits 10.1.

 

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Item 9.01.                                          Financial Statements and Exhibits.

 

(c)                                        Exhibits.

 

The following exhibits are filed herewith:

 

Exhibit No.

 

Description

 

 

 

10.1

 

Form of Notice of Option Grant and Stock Option Agreement pursuant to Silicon Image, Inc.’s 1999 Equity Incentive Plan.

 

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SIGNATURE

 

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.

 

 

Date:  January 10, 2005

 

SILICON IMAGE, INC.

 

 

 

 

 

 

 

By:

/s/ Patrick Reutens

 

 

Patrick Reutens

 

 

Chief Legal Officer

 

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EXHIBIT INDEX

 

 

Exhibit No.

 

Description

 

 

 

10.1

 

Form of Notice of Option Grant and Stock Option Agreement pursuant to Silicon Image, Inc.’s 1999 Equity Incentive Plan.

 

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