- Current report filing (8-K)
January 20 2010 - 3:58PM
Edgar (US Regulatory)
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
DC 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 15, 2010
Procera
Networks, Inc.
(Exact
Name of Registrant as Specified in its Charter)
______________
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(State
or Other Jurisdiction
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(Commission
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(IRS
Employer
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of
Incorporation)
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File
Number)
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Identification
No.)
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100-C
Cooper Court, Los Gatos, CA
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95032
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(Address
of Principal Executive Offices)
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(Zip
Code)
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Registrant’s
telephone number, including area code:
(408) 354-7200
______________
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 (
see
General
Instruction A.2. below):
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
5.02 Departure of Directors or Principal Officers; Election of
Directors; Appointment of Principal Officers.
On
January 15, 2010, the board of directors (the “Board”) of Procera Networks, Inc.
(the “Company”) appointed Paul Stich to the Company’s Board of Directors.
Initially, Mr. Stich will not serve as a member of any committee of the
Board.
In
connection with his election to the Board, Mr. Stich will be entitled to receive
the standard compensation offered to non-employee directors as follows: an
annual retainer of $10,000 payable quarterly, $1,000 for attending each Board
meeting in person or $500 for attending telephonically, and a quarterly option
grant to purchase 3,750 shares of the Company’s common stock at the fair market
value on the first trading day of each quarter. Mr. Stich may make an annual
election to forego the cash compensation and to instead receive an additional
option grant, equivalent in value to such cash compensation. In
addition, Mr. Stitch will be awarded an initial stock grant exercisable for
50,000 shares of the Company’s common stock.
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.
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Procera
Networks, Inc.
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(Registrant)
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January
20, 2010
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By:
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/s/
Charles Constanti
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Charles
Constanti
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Chief
Financial Officer and Principal Accounting
Officer
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