Current Report Filing (8-k)
April 09 2020 - 12:40PM
Edgar (US Regulatory)
UNITED
STATES SECURITIES
AND EXCHANGE COMMISSION
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the Securities Exchange Act of
1934
Date of Report (Date of earliest event
reported): April 7,
2020
Data
I/O Corporation
(Exact name of
registrant as specified in its charter)
Washington
|
0-10394
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91-0864123
|
(State or other
jurisdiction of incorporation)
|
(Commission File
Number)
|
(IRS Employer
Identification No.)
|
6645
185th Ave. N.E., Suite 100, Redmond, WA 98052
(Address of
principal executive offices, including zip code)
(425)
881-6444
(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))
Securities
registered pursuant to Section 12(b) of the Act:
Title of each
class
|
Trading Symbol(s)
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Name of each
exchange on which registered
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Common
Stock
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DAIO
|
NASDAQ
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Indicate
by check mark whether the registrant is an emerging growth company
as defined in Rule 405 of the Securities Act of 1933 (§230.405
of this chapter) or Rule 12b-2 of the Securities Exchange Act of
1934 (§240.12b-2 of this chapter).
Emerging growth
company □
If an
emerging growth company, indicate by check mark if the registrant
has elected not to use the extended transition period for complying
with any new or revised financial accounting standards provided
pursuant to Section 13(a) of the
Exchange
Act □
Items
reported in this filing:
Item
5.02 Departure of Directors or Certain Officers; Election of
Directors; Appointment of Certain Officers; Compensatory
Arrangements of Certain Officers
Data I/O Corporation’s Board of Directors, with officer
agreement, made changes in Director and Officer compensation in
response to the impact on our business, customers and industry
resulting from the novel coronavirus or COVID-19
worldwide.
Director
cash compensation has been reduced by 20% for six months and the
remaining 80% deferred for six months starting in
April.
Executive
Officer base salary compensation has been reduced by 20% for six
months starting in April. Other compensation elements will be
unaffected by this change.
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.
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Data
I/O Corporation
|
|
|
|
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Date:
April 9, 2020
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By:
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/s/ Joel S.
Hatlen
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|
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Joel S.
Hatlen
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|
|
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Vice PresidentChief
Operating and Financial Officer
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|
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