Divx Inc - Amended Current report filing (8-K/A)
November 14 2007 - 4:17PM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K/A
Amendment No. 1
Current Report Pursuant to Section 13 or 15(d) of
The Securities
Exchange Act of 1934
Date of Report (Date of earliest event reported): October 31, 2007
DivX, Inc.
(Exact name of registrant as specified in its charter)
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Delaware
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001-33029
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33-0921758
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(State or other jurisdiction of
incorporation)
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(Commission File Number)
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(I.R.S. Employer
Identification No.)
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4780 Eastgate Mall
San Diego, California
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92121
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(Address of principal executive offices)
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(Zip Code)
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Registrants telephone number, including area code: (858) 882-0600
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):
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Explanatory Note
On November 5, 2007, DivX, Inc. (the Company) filed a Current Report on Form 8-K (the Original 8-K) announcing, among other things, the promotion of Kevin Hell from Acting Chief Executive
Officer of the Company to Chief Executive Officer and Mr. Hells appointment as a member of the Board of Directors of the Company. Details regarding any amendment to Mr. Hells compensation arrangements or any equity awards to be
made in connection with his promotion to Chief Executive Officer and appointment to serve as a member of the Companys Board of Directors were unavailable at the time the Original 8-K was filed. Such information is now available and the Company
is filing this Amendment No. 1 to the Original 8-K to provide such information in Item 5.02 of the Original 8-K.
Item 5.02
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Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
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On October 31, 2007, the Board of Directors of the Company promoted Kevin Hell from Acting Chief Executive Officer of the Company to Chief Executive Officer and
appointed Mr. Hell to serve as a member of the Board of Directors of the Company. Mr. Hell joins the class of directors to be nominated for election at the 2008 annual stockholders meeting, to serve until the 2011 annual
stockholders meeting. A copy of the press release announcing the promotion of Mr. Hell to Chief Executive Officer and appointment of Mr. Hell to the Board of Directors of the Company is attached as Exhibit 99.2 to the Original 8-K
and incorporated herein by reference.
Mr. Hell, 43, has served as the Companys Acting Chief Executive Officer since July 2007. Between 2002 and
2007, Mr. Hell held a number of management positions within the Company including Chief Marketing Officer and Managing Director, Chief Operating Officer, the Companys CXO for Partners and Licensing, and President. Before joining the
Company in 2002, Mr. Hell served as Senior Vice President of Product Management for Palm Solutions Group, a handheld solutions company, as well as Vice President of the Connected Home Division and Vice President of Corporate Strategy at
Gateway, a personal computer manufacturing company. Prior to Gateway, Mr. Hell worked with the Boston Consulting Group in Los Angeles focused on high-technology and entertainment. Mr. Hell received an M.B.A. from The Wharton School, and a
masters degree in Aeronautics and Astronautics and a B.S. in Mechanical Engineering from Stanford University.
On November 8, 2007, in
connection with Mr. Hells promotion to Chief Executive Officer and appointment to serve as a member of the Companys Board of Directors, the Company and Mr. Hell amended his existing offer of employment letter. Under the
amendment, Mr. Hells base salary has been increased to $350,000 per year and Mr. Hell will be granted, under the Companys 2006 Equity Incentive Plan, an option to purchase 475,000 shares of the Companys Common Stock. The
option will vest on a ratable basis over a four year period from the date of grant.
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, thereunto duly authorized.
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DIVX, INC.
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Dated:
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November 14, 2007
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By:
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/s/ Dan Halvorson
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Name:
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Dan Halvorson
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Title:
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Executive Vice President and Chief Financial Officer
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