Unassociated Document
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)
January
25,
2007
iCAD,
INC.
(Exact
Name of Registrant as Specified in Its Charter)
Delaware
(State
or
Other Jurisdiction of
Incorporation)
|
1-9341
|
|
02-0377419
|
|
(Commission
File Number)
|
|
(IRS
Employer Identification No.)
|
| |
|
|
|
98
Spit Brook Road, Suite 100, Nashua, New Hampshire
|
|
03062
|
|
(Address
of Principal Executive Offices)
|
|
(Zip
Code)
|
(603)
882-5200
(Registrant’s
Telephone Number, Including Area Code)
4
Townsend West, Suite 17, Nashua, New Hampshire 03063
(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):
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
5.02. Departure of Directors or Principal Officers; Election of Directors;
Appointment of Principal Officers;
Compensatory
Arrangements of Certain Officers.
On
January 25, 2007, our Board of Directors, upon the recommendation of the
Compensation Committee of our Board, approved the payment of the following
fiscal year 2006 cash bonuses to our executive officers: Kenneth Ferry, our
Chief Executive Officer - $175,000; Jeffrey Barnes, our Senior Vice President
of
Sales - $90,000; Stacey Stevens, our Senior Vice President of Marketing and
Strategy - $70,000; Darlene Deptula-Hicks, our Executive Vice President of
Finance and Chief Financial Officer - $35,000 and Jonathan Go, our Senior Vice
President of Research and Development - $15,000. These cash bonuses will be
paid
after the filing of our Form 10-K for the fiscal year ended December 31, 2006.
In
addition, the amount of the Incentive Bonus that Ms. Stevens is eligible
to
receive under her employment agreement during the year ending December 31,
2007
was increased to an amount equal to 40% of her annual base salary for that
year.