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): December 14, 2011

 

 

INFINERA CORPORATION

(Exact name of registrant as specified in its charter)

 

 

 

 

Delaware   001-33486   77-0560433

(State or other jurisdiction of

incorporation)

 

(Commission

File Number)

 

(IRS Employer

Identification No.)

140 Caspian Court

Sunnyvale, CA 94089

(Address of principal executive offices, including zip code)

(408) 572-5200

(Registrant’s telephone number, including area code)

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.

(e) Named Executive Officer Compensation. On December 14, 2011, the Compensation Committee (the “Committee”) of the Board of Directors (the “Board”) of Infinera Corporation (the “Company”) approved the fiscal 2012 compensation for the Company’s named executive officers.

Base Salaries. The Committee approved the following base salary changes for the named executive officers, effective January 1, 2012:

 

Named Executive Officer

  

Position

   FY11
Base Salary
     FY12
Base Salary
 

Thomas J. Fallon

   President and Chief Executive Officer    $ 300,000       $ 300,000   

Ita M. Brennan

   Chief Financial Officer    $ 300,000       $ 300,000   

Michael O. McCarthy III

   Chief Legal and Administrative Officer    $ 300,000       $ 315,000   

Ronald D. Martin

   Sr. Vice President, Worldwide Sales    $ 350,000       $ 350,000   

David F. Welch, Ph.D.

   Executive Vice President, Chief Strategy Officer    $ 300,000       $ 350,000   

Target Bonus Percentages. The Committee approved the following target bonus percentages, as a percentage of base salary, for the named executive officers for 100% achievement under the Company’s fiscal 2012 Bonus Plan, effective January 1, 2012:

 

Named Executive Officer

  

Position

   FY11 Target
Bonus

(as a  percentage
of Base Salary)
  FY12 Target
Bonus

(as a  percentage
of Base Salary)

Thomas J. Fallon

   President and Chief Executive Officer    125%   125%

Ita M. Brennan

   Chief Financial Officer    65%   65%

Michael O. McCarthy III

   Chief Legal and Administrative Officer    65%   65%

Ronald D. Martin

   Sr. Vice President, Worldwide Sales    100%   100%

David F. Welch, Ph.D.

   Executive Vice President, Chief Strategy Officer    80%   80%


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.

 

    INFINERA CORPORATION
    Date: December 20, 2011   By:  

/s/ Michael O. McCarthy III

   

Michael O. McCarthy III

Chief Legal and Administrative Officer