-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, VFl1w6gAVoSJ6lUoreL9m+W8Ryh236Bul6Sb0Jr1XKvv+logZu7a6YNcGztQoJdj pnpWGTJg9wMXOLR53+gkcw== 0001144204-10-040298.txt : 20100730 0001144204-10-040298.hdr.sgml : 20100730 20100730121134 ACCESSION NUMBER: 0001144204-10-040298 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20100729 ITEM INFORMATION: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20100730 DATE AS OF CHANGE: 20100730 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ACORN ENERGY, INC. CENTRAL INDEX KEY: 0000880984 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-ENGINEERING SERVICES [8711] IRS NUMBER: 222786081 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-33886 FILM NUMBER: 10980279 BUSINESS ADDRESS: STREET 1: 4 WEST ROCKLAND ROAD CITY: MONTCHANIN STATE: DE ZIP: 19710 BUSINESS PHONE: 3026561708 MAIL ADDRESS: STREET 1: 4 WEST ROCKLAND ROAD CITY: MONTCHANIN STATE: DE ZIP: 19710 FORMER COMPANY: FORMER CONFORMED NAME: ACORN FACTOR, INC. DATE OF NAME CHANGE: 20060920 FORMER COMPANY: FORMER CONFORMED NAME: DATA SYSTEMS & SOFTWARE INC DATE OF NAME CHANGE: 19931019 FORMER COMPANY: FORMER CONFORMED NAME: DEFENSE SOFTWARE & SYSTEMS INC DATE OF NAME CHANGE: 19930328 8-K 1 v192006_8k.htm
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) July 29, 2010

ACORN ENERGY, INC.
(Exact name of Registrant as Specified in its Charter)

Delaware
0-19771
22-2786081
(State or Other Jurisdiction
(Commission file Number)
(IRS Employer
of Incorporation)
 
Identification No.)

4 West Rockland Road, Montchanin, Delaware
19710
(Address of Principal Executive Offices)
(Zip Code)

Registrant’s telephone number, including area code (302) 656-1707

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:

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

¨  Soliciting material pursuant to Rule 14a-2 under the Exchange Act (17 CFR 240.14a-2)

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

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

 
 

 

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

On June 29, 2010, the Board of Directors of Acorn Energy, Inc. appointed Steven Ledger to serve as a director.

Mr. Ledger is the Managing Member of Tamalpais Partners, a privately-held investment company.

Upon his appointment to the board, pursuant to the company’s 2006 Stock Option Plan For Non-Employee Directors, Mr. Ledger was granted options to purchase 25,000 shares of the company’s common stock at an exercise price of $5.05 per share (the fair market value on the date of grant), which options shall vest one-third per year, the first third to vest one year following the date of grant, and be exercisable for seven years from the date of grant.

In accordance with the company’s director compensation policy, Mr. Ledger will receive an annual retainer of $40,000 payable quarterly in advance, as well as meeting fees for board and committee meetings of $1,000 per meeting.  The Board of Directors has not yet determined on which of its committees Mr. Ledger will serve.

There are no arrangements or understandings between Mr. Ledger and any other person pursuant to which Mr. Ledger was elected as a director.  There are no transactions in which Mr. Ledger has an interest requiring disclosure under Item 404(a) of Regulation S-K.

A press release announcing Mr. Ledger’s appointment is attached to this Current Report as Exhibit 99.1.

Item 9.01  Financial Statements and Exhibits.
 
Exhibits
 
99.1  Press release of Acorn Energy, Inc., dated July 30, 2010

 
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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 on this 30th day of July, 2010.

 
ACORN ENERGY, INC.
   
 
By:
/s/ Joe B. Cogdell, Jr.
 
Name:
Joe B. Cogdell, Jr.
 
Title:
Vice President, General Counsel and Secretary

 
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EX-99.1 2 v192006_ex99-1.htm
EXHIBIT 99.1

Steve Ledger Named to the Board of Directors of Acorn Energy
 
Montachanin, Del., July 30, 2010  - Acorn Energy Inc. (NASDAQ:ACFN), an energy technology holding company, announced today the appointment of Steven Ledger as a new member of its Board of Directors, bringing the total membership of the Board to seven.

Steven Ledger, 50, is Managing Member of Tamalpais Partners, which he founded, and was previously President of Merriman Asset Management and Chief Investment Officer of Merriman Focus Fund. He also previously served as co-founder and managing partner of eCompanies Venture Group where he managed an Internet focused, strategic venture capital fund with investors that included Sprint, Disney, Earthlink and Sun America.

Prior to founding eCompanies Venture Group, Ledger was managing partner and portfolio manager at San Francisco Investment Group and Kayne Anderson Investment Management. He began his career at Fidelity Management and Research as an equity research analyst and portfolio manager. Ledger is a graduate of the University of Connecticut.

"With over a quarter of a century of experience in the financial marketplace, Steve brings the critical perspective of financial institutional  analysis to Acorn as its portfolio companies enter the important growth phases of their development,” said John Moore, CEO of Acorn Energy. “He has extensive experience and understands the hurdles companies face as they introduce new technology-based solutions into the marketplace.”

 “I have been an investor in and advocate of Acorn’s pragmatic approach for solving critical energy infrastructure problems,” said Mr. Ledger. “Our country and the world are engaged in forging long-term energy policies and goals.  However, a critical near-term need will be to support, to sustain and to bring greater efficiencies to the energy marketplace...  Acorn is at the forefront of this challenge, bringing to bear 21st century technology for immediate results through practical solutions.”

About Acorn Energy

Acorn Energy, Inc. (NASDAQ: ACFN) is a publicly-traded holding company with equity interests in CoaLogix, Coreworx, DSIT, Gridsense and US Sensor Systems Inc. These companies leverage advanced technologies to transform and upgrade the energy infrastructure around the world. Acorn companies are focused on three problems in the energy sector: improving the efficiency of the energy grid, reducing the risk for owners of large energy assets, and reducing the environmental impact of the energy sector. Acorn's strategy is to take primarily controlling positions in companies led by great entrepreneurs. For more information visit http://www.acornenergy.com.

 
 

 

Safe Harbor Statement

This press release includes forward-looking statements, which are subject to risks and uncertainties.  These risks and uncertainties include competition in the market for catalyst and regeneration and possible adverse changes in governmental regulations affecting utilities’ need for catalyst.  For disclosure of additional risks and uncertainties which may affect CoaLogix' business and prospects and Acorn Energy, Inc.’s business generally, see the information under "Risk Factors" in Acorn Energy's most recent Quarterly Report on Form 10-Q and Annual Report on Form 10-K as filed with the Securities and Exchange Commission.

Investor Contact:
Paul G. Henning
Cameron Associates
(212) 554-5462
Paul@cameronassoc.com

 
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