Unassociated Document
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)
October 10, 2007
ACORN
FACTOR, INC.
(Exact
name of Registrant as Specified in its Charter)
|
Delaware
|
0-19771
|
22-2786081
|
|
(State
or Other Jurisdiction
|
(Commission
file Number)
|
(IRS
Employer
|
|
of
Incorporation)
|
|
Identification
No.)
|
|
4
West Rockland Road, Montchanin, DE
|
19710
|
|
(Address
of Principal Executive Offices)
|
(Zip
Code)
|
Registrant’s
telephone number, including area code (302)
656-1708
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:
o
Written communications
pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting
material pursuant to
Rule 14a-2 under the Exchange Act (17 CFR 240.14a-2)
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 Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain
Officers.
On
October 10, 2007, the Board of Directors of Acorn Factor, Inc appointed Scott
B.
Ungerer to serve as a director.
Mr.
Ungerer is the Managing Member of EnerTech Capital, which is the manager of
EnerTech Capital Partners III, LP, an alternative energy, energy technology
and
cleantech venture capital fund in which Acorn Factor, Inc. has previously
made a commitment to invest $5 million, to be funded over the ten-year life
of
the fund.
Upon
his
appointment to the board, pursuant to the company’s 2006 Stock Option Plan For
Non-Employee Directors, Mr. Ungerer was granted options to purchase 25,000
shares of the company’s common stock at an exercise price of $4.60 per share
(the fair market value on the date of grant), which options shall vest one
third
per year, the first third to vest one year following the date of grant, and
be
exercisable for seven years from the date of grant.
A
press
release announcing Mr. Ungerer’s appointment is attached to this Current Report
as Exhibit 99.1.
Item
9.01 Financial Statements and Exhibits.
Exhibits
99.1 Press
release of Acorn Factor, Inc., dated October 11, 2007
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 on this 15th day of October 2007.
| |
ACORN
FACTOR, INC.
|
| |
|
|
| |
|
|
| |
By:
|
/s/
Sheldon Krause
|
| |
Name:
Sheldon Krause
|
| |
Title:
Secretary and General Counsel
|