UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 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): November 16, 2007
PIXELWORKS, INC.
(Exact name of registrant as specified in its charter)
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| OREGON |
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000-30269 |
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91-1761992 |
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(Commission File Number)
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(I.R.S. Employer Identification No.) |
8100 SW Nyberg Road
Tualatin, Oregon 97062
(503) 454-1750
(Address, including zip code, and telephone number, including
area code, of registrant’s principal executive offices)
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:
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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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| 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. |
On November 16, 2007, the Board of Directors unanimously agreed to fully accelerate the vesting
of all 129,166 shares of a restricted stock award held by Hans Olsen, the Company’s Chief
Executive Officer, granted to him on May 3, 2007 (the “RSA”), which grant was previously
reported in a Current Report on Form 8-K filed with the SEC on May 9, 2007. Additionally, the
Company will pay Mr. Olsen a cash bonus equal to the estimated amount of his personal tax
liability incurred, plus taxes thereon, as a result of the accelerated vesting of the shares
subject to the RSA, in the amount of $98,580.