Current Report Filing (8-k)
07 June 2017 - 6:31AM
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):
May 31, 2017
PERCEPTRON,
INC.
(Exact name of registrant as specified in its charter)
Michigan
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0-20206
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38-2381442
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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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47827 Halyard Drive, Plymouth, MI 48170-2461
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code
(734) 414-6100
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Not applicable
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(Former name or former address, if changed since last report)
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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):
[ ] 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))
Indicate by check mark whether the registrant is an emerging
growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities
Exchange Act of 1934 (17 CFR §240.12b-2).
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. ☐
Item 1.01. ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT
On May 31, 2017, Perceptron, Inc. (the “Company”) entered into the Second Amendment to Standstill Agreement (the “Standstill
Agreement Amendment”) with Harbert Discovery Fund LP, Harbert Discovery Fund GP, LLC, Harbert Fund Advisors Inc. and Harbert
Management Corporation (collectively, “Harbert”), which amended the Standstill Agreement, dated August 9, 2016, between
the Company and Harbert. The Company also entered into the Second Amendment to Voting Agreement (the “Voting Agreement Amendment”)
with Moab Partners, L.P. and Moab Capital Partners, LLC (collectively, the “Moab”) on May 31, 2017, which amended
the Voting Agreement, dated August 9, 2016, between the Company and Moab. The Standstill Agreement Amendment and the Voting Agreement
Amendment (i) provide that by December 31, 2017, David L. Watza, as President and Chief Executive Officer of the Company, will
be appointed to the Board of Directors of the Company to fill a vacancy left by the resignation of either Robert S. Oswald or
Terryll R. Smith, who will resign from the Board at that time to facilitate the appointment and (ii) extend the term of the Standstill
Agreement and Voting Agreement until thirty days prior to the deadline for a shareholder to submit nominations at the 2018 Annual
Meeting of Shareholders of the Company.
The foregoing description of the Standstill Agreement Amendment and the Voting Agreement
Amendment is not complete and is qualified in its entirety by reference to the Standstill Agreement Amendment and the Voting Agreement
Amendment, copies of which are attached hereto as Exhibits 10.1 and 10.2 and incorporated by reference.
Item 8.01. OTHER ITEMS
The Board of Directors approved a six month $25,000 additional retainer
fee to be paid to W. Richard Marz, as Board Chair, to be paid one-half on September 1, 2017 and one-half on December 1, 2017.
Item 9.01.
Financial
Statements and Exhibits
Exhibit No.
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Description
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Exhibit 10.1
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Second Amendment to Standstill Agreement, dated May 31, 2017, between the Company, Harbert Discovery Fund LP, Harbert Discovery Fund GP, LLC, Harbert Fund Advisors Inc. and Harbert Management Corporation.
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Exhibit 10.2
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Second Amendment to Voting Agreement, dated May 31, 2017, between the Company, Moab Partners, L.P. and Moab Capital Partners, LLC
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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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PERCEPTRON, INC.
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Date: June 6, 2017
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/s/ David L. Watza
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By: David L. Watza
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Its: President, Chief Executive Officer and Chief Financial Officer
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EXHIBIT INDEX
Exhibit
Number
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Description
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10.1
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Second Amendment to Standstill Agreement, dated May 31, 2017, between the Company, Harbert Discovery Fund LP, Harbert Discovery Fund GP, LLC, Harbert Fund Advisors Inc. and Harbert Management Corporation.
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10.2
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Second Amendment to Voting Agreement, dated May 31, 2017, between the Company, Moab Partners, L.P. and Moab Capital Partners, LLC
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