WASHINGTON, D.C. 20549
Date of Report (Date of earliest event reported): December 22, 2010
(Exact name of registrant as specified in charter)
1612 East Cape Coral Parkway, Cape Coral Florida
(Address of principal executive offices)
(Registrants telephone number, including area code)
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 5.05 DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS.
On December 22, 2010, the Compensation Committee of the Board of Directors of Tigrent Inc. (the Company) approved restricted stock award grants (the Officer Grants) pursuant to the Companys 2009 Incentive Plan (the 2009 Plan) to the following executive officers of the Company:
Each of the Officer Grants fully vest on the 4th anniversary of the date of grant. However, in the event of a Change in Control (as defined in the 2009 Plan), the Officer Grants will immediately become fully vested.
A copy of the 2009 Plan was previously filed as Appendix A to the Companys definitive proxy statement filed with the Securities and Exchange Commission on July 24, 2009 (File No. 000-27403), and is incorporated herein by reference. A copy of the standard form of restricted stock award agreement under the 2009 Plan will be filed as an exhibit to the Companys Annual Report on Form 10-K for the year ending December 31, 2010.
ITEM 8.01 OTHER EVENTS.
On December 23, 2010, the Company announced that it has appointed Steven C. Barre to serve as its Chief Executive Officer effective December 22, 2010. Mr. Barre has served as Interim Chief Executive Officer of the Company since March 2010. Mr. Barre has been on the Board of Directors of the Company since February 2008, and was the Companys Lead Independent Director from June 2008 to March 2010. Prior to his appointment as Interim Chief Executive Officer, Mr. Barre also served on the Companys Audit and Compensation Committees.
A copy of the Companys press release announcing Mr. Barres appointment is attached Exhibit 99.1 to this filing.
Pursuant to the requirements of the Securities Exchange Act of 1934, the Company has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.