-----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, QX0T4wQPSeuHcQVsZjzBAb6sjLP44+Z6nwmyZIulLVXFxRNU2ZhSy+W7K3brYXQq JYloHS/FsoxW7or3CsHP5Q== 0000922907-08-000401.txt : 20080515 0000922907-08-000401.hdr.sgml : 20080515 20080515165625 ACCESSION NUMBER: 0000922907-08-000401 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20080513 ITEM INFORMATION: Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20080515 DATE AS OF CHANGE: 20080515 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ELECSYS CORP CENTRAL INDEX KEY: 0000914398 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRONIC COMPONENTS, NEC [3679] IRS NUMBER: 481099142 STATE OF INCORPORATION: KS FISCAL YEAR END: 430 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-15057 FILM NUMBER: 08838851 BUSINESS ADDRESS: STREET 1: 15301 W. 109TH STREET CITY: LENEXA STATE: KS ZIP: 66219 BUSINESS PHONE: 9136470158 MAIL ADDRESS: STREET 1: 15301 W. 109TH STREET CITY: LENEXA STATE: KS ZIP: 66219 FORMER COMPANY: FORMER CONFORMED NAME: AIRPORT SYSTEMS INTERNATIONAL INC DATE OF NAME CHANGE: 19931103 8-K 1 form8k_051508.htm Form 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)    May 13, 2008
                                                --------------------------------



                               ELECSYS CORPORATION
- --------------------------------------------------------------------------------
              (Exact name of registrant as specified in its charter)

      KANSAS                       0-22760                       48-1099142
- -------------------------------------------------------------------------------
(State or other jurisdiction      (Commission                (IRS Identification
   of incorporation)              File Number)                   Employer No.)



      846 N. Mart-Way Court, Olathe, Kansas                          66061
- --------------------------------------------------------------------------------
     (Address of principal executive offices)                      (Zip Code)


Registrant's telephone number, including area code         (913) 647-0158
                                                  ------------------------------


                                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:

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

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

[ ] 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

     Elecsys  Corporation (the "Company")  announced today that Phil Schoettlin,
Vice President of Sales of its DCI, Inc. subsidiary, left the Company on May 13,
2008. The Company also announced that Robert O'Conor will be joining the Company
as Executive Vice President of Business  Development of its DCI, Inc. subsidiary
effective May 27, 2008.

     The Company has  entered  into a letter  agreement  with Mr.  O'Conor,  the
principle terms of which include:

  (i)     annual compensation consisting of a base salary of $150,000, and until
          March 31, 2008, commissions equal to 0.1% of total sales (exclusive of
          sales to subsidiaries of the Company);
  (ii)    a grant of 2,500 shares of the Company's common stock;
  (iii)   a grant of 24,000 options to purchase the Company's common stock at an
          exercise  price equal to the  closing  market  price of the  Company's
          common stock on the date of grant (May 27, 2008) and vesting in equal
          parts on each of May 27, 2009, 2010 and 2011;
  (iv)    beginning  in  April  2009,   an  annual  bonus  based   primarily  on
          profitability goals approved by the Company's Board of Directors; and
  (v)     participation in all of the Company's employee benefit programs.

A press release  announcing  the hiring of Mr.  O'Conor and the departure of Mr.
Schoettlin is attached hereto as Exhibit 99.1.


Item 9.01  Financial Statements and Exhibits.


      (c) EXHIBITS. The following exhibits are filed herewith:


      99.1  Press Release dated May 15, 2008.






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.

 Date:  May 15, 2008                 ELECSYS CORPORATION


                                     By:   /s/ Todd A. Daniels
                                        --------------------------------------
                                        Todd A. Daniels
                                        Vice President and Chief Financial
                                        Officer



                                  EXHIBIT INDEX

Exhibit Number        Description

   99.1               Press release dated May 15, 2008



EX-99.1 2 form8kexh991_051508.htm Exhibit 99.1



                                               NEWS RELEASE

- --------------------------------------------------------------------------------
846 N. Mart-Way Court, Olathe, Kansas 66061            Phone: 913-647-0158
                                                       Fax:  913-647-0132

       investorrelations@elecsyscorp.com
FOR IMMEDIATE RELEASE:

Contact:          Todd A. Daniels
                  (913) 647-0158, Phone
                  (913) 647-0132, Fax
                  investorrelations@elecsyscorp.com

ELECSYS CORPORATION APPOINTS ROB O'CONOR NEW VICE
PRESIDENT OF BUSINESS DEVELOPMENT AT DCI SUBSIDIARY

Olathe, Kansas (May 15, 2008) - Elecsys Corporation (AMEX: ASY), announced today
that Robert  O'Conor will be joining the Company as Executive  Vice President of
Business  Development for its DCI, Inc. subsidiary at the end of this month. Mr.
O'Conor is currently the Global Sales Leader for GE Energy Filtration  Products.
The  business,  a  provider  of  custom  process  management  equipment  serving
industrial  customers  worldwide,  began in  Kansas  City as BHA  Group  and was
acquired by General  Electric in 2004. Mr. O'Conor held various  engineering and
sales positions with the  organization  over the last 23 years.  Since 1996, Mr.
O'Conor  managed global business  development  efforts and drove annual sales to
over $200 million.  Mr. O'Conor holds a bachelor's degree in business technology
from Pennsylvania State University.

Karl B. Gemperli, Chief Executive Officer, commented,  "During his time with BHA
and GE Energy,  Rob was  responsible  for meeting sales and margin goals and led
that organization  through  double-digit annual growth. His business development
expertise  and focus on a  value-based  sales  approach  for  custom  engineered
solutions make Rob an ideal fit for DCI's operating  model of forming  long-term
customer partnerships by providing premium products and unsurpassed service. His
broad experience building  high-performance sales teams will be invaluable as we
expand our business and market  penetration.  We look forward to Rob joining the
DCI team as we accelerate through our next phase of growth."

Phil Schoettlin,  DCI's former Vice President of Sales,  left the Company on May
13th, 2008.

Elecsys Corporation  operates three wholly owned  subsidiaries,  DCI, Inc., NTG,
Inc., and Radix  Corporation.  DCI provides  electronic design and manufacturing
services for original equipment manufacturers in the aerospace,  transportation,
communications,  safety,  security and other industrial product industries.  DCI
has  specialized  expertise  and  capabilities  to integrate  custom  electronic
assemblies with a variety of innovative display and interface technologies.  NTG
designs,  markets,  and provides remote monitoring solutions for the gas and oil
pipeline  industry as well as other  industries that require remote  monitoring.
Radix develops, designs and markets



ultra-rugged handheld computers,  peripherals and portable printers. The markets
served by its products include utilities,  transportation logistics, traffic and
parking   enforcement,   route   accounting/deliveries,   and   inspection   and
maintenance. For more information, visit our website at www.elecsyscorp.com.

Safe-Harbor  statement:  The  discussions  set forth in this press  release  may
contain  forward-looking  comments based on current  expectations that involve a
number of risks and  uncertainties.  Actual results could differ materially from
those  projected or suggested in the  forward-looking  comments.  The difference
could be  caused by a number  of  factors,  including,  but not  limited  to the
factors and conditions that are described in Elecsys  Corporation's SEC filings,
including  the Form  10-KSB for the year  ended  April 30,  2006.  The reader is
cautioned  that  Elecsys  Corporation  does  not have a policy  of  updating  or
revising  forward-looking  statements  and thus he or she should not assume that
silence by management of Elecsys  Corporation over time means that actual events
are bearing out as estimated in such forward-looking statements.

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-----END PRIVACY-ENHANCED MESSAGE-----