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)
July 3, 2016
Lattice Semiconductor Corporation
(Exact name of registrant as specified in its charter)
Delaware | 000-18032 | 93-0835214 | ||
(State or other jurisdiction of incorporation) | (Commission File Number) | (IRS Employer Identification No.) | ||
111 SW Fifth, Ste 700
Portland, Oregon 97204
(Address of principal executive offices, including zip code)
(503) 268-8000
(Registrant's telephone number, including area code)
(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 (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))
Item 5.02. Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers; Compensatory Arrangements of Certain Officers.
On July 3, 2016, the Board of Directors (the "Board") of Lattice Semiconductor Corporation (the "Company") acted to enlarge the Board of Directors from seven to eight members and appointed Brian M. Beattie to the Board effective July 3, 2016. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K. Mr. Beattie will also serve as a member of the Audit Committee.
In connection with Mr. Beattie's service as a director, he will be entitled to the Company's customary compensatory arrangement for outside directors, including an annual retainer of $45,000 for Board service and an annual retainer of $10,000 for service on the Audit Committee. In addition, on the date of appointment, Mr. Beattie was granted options to purchase the Company's common stock valued at $150,000 pursuant to the terms of the Company's 2011 Non-Employee Director Equity Incentive Plan, with 33 1/3% of the option vesting on the first anniversary of the date of grant and an additional 33 1/3% of the option vesting each anniversary thereafter, subject to his continued service to the Company. In addition, as a non-employee director Mr. Beattie will be entitled to receive an annual award of restricted stock with a value of $105,000 under the Company's 2011 Non-Employee Director Equity Incentive Plan on the day after each of the Company's annual meeting of stockholders. Mr. Beattie will receive the first award of restricted stock on the day after the Company's next annual meeting of stockholders with a value based on a prorated portion of the $105,000 standard annual award adjusted as appropriate to reflect the fact that he was appointed subsequent to the previous annual meeting of stockholders. The restricted stock grants vest on the first year anniversary of the date of grant.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
The following exhibit is being furnished herewith:
Exhibit No. | Description | |
99.1 | Press Release dated July 7, 2016 (furnished herewith). | |
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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.
LATTICE SEMICONDUCTOR CORPORATION | |||
By: | /s/ Byron W. Milstead | ||
Date: | July 7, 2016 | Byron W. Milstead Corporate Vice President and General Counsel | |
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EXHIBIT INDEX
Exhibit No. | Description | |
99.1 | Press Release dated July 7, 2016 (furnished herewith) | |
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Exhibit 99.1
News Release
FOR MORE INFORMATION CONTACT:
David Pasquale
Global IR Partners
914-337-8801
lscc@globalirpartners.com
LATTICE SEMICONDUCTOR ANNOUNCES APPOINTMENT OF BRIAN BEATTIE TO BOARD OF DIRECTORS
PORTLAND, OR - July 7, 2016 - Lattice Semiconductor Corporation (NASDAQ: LSCC) today announced that its Board of Directors has appointed Brian Beattie to the Company’s Board of Directors and Audit Committee. Mr. Beattie brings to the Board more than 35 years’ experience in finance, business operations, information technology, corporate development and strategy.
Mr. Beattie, 62 years old, is currently Executive Vice President, Business Operations, and Chief Administrative Officer of Synopys, Inc. (NASDAQ: SNPS), where he served as Chief Financial Officer from January 2006 to December 2014. Prior to joining Synopsys, Mr. Beattie was Chief Financial Officer and Executive Vice President of Finance and Administration at SupportSoft for 6 years. He was instrumental in growing the business and helped lead the company from the start-up phase through its successful IPO in 2000. Mr. Beattie began his career at Nortel Networks where over a 19 year period he took on increasing corporate, financial and operational responsibilities, and rose to become the finance executive responsible for the company's merger and acquisition strategy. He earned both his Bachelor of Commerce degree and MBA in International Finance and Management from Concordia University in Montreal, Canada.
John Bourgoin, Lattice’s Chairman of the Board, commented, “We are very pleased to have Brian join our Board of Directors given his proven track record. He brings substantial additional financial and operations expertise to our Board, which will be helpful as the Company continues to execute on its business strategy and lays the groundwork for its longer-term growth.”
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About Lattice Semiconductor
Lattice Semiconductor (NASDAQ: LSCC) provides smart connectivity solutions powered by our low power FPGA, video ASSP, 60 GHz millimeter wave, and IP products to the consumer, communications, industrial, computing, and automotive markets worldwide. Our unwavering commitment to our customers enables them to accelerate their innovation, creating an ever better and more connected world. For more information, visit www.latticesemi.com. You can also follow us via LinkedIn, Twitter, Facebook or RSS.
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Lattice Semiconductor Corporation, Lattice Semiconductor (& design), L (& design) and specific product designations are either registered trademarks or trademarks of Lattice Semiconductor Corporation or its subsidiaries in the United States and/or other countries.
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