UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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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 30, 2007
KEY TECHNOLOGY, INC.
(Exact name of registrant as specified in its charter)
OREGON 0-21820 93-0822509
(State or other jurisdiction (Commission File Number) (IRS Employer
of incorporation) Identification No.)
150 Avery Street
Walla Walla, Washington 99362
(Address of principal executive offices) (Zip Code)
(509) 529-2161
(Registrant's 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):
|_| 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 CERTAIN OFFICERS; ELECTION OF
DIRECTORS; APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY
ARRANGEMENTS OF CERTAIN OFFICERS.
Key Technology, Inc. (the "Company") accepted on January 30,
2007 the resignation of Ronald W. Burgess, Sr. Vice President
and Chief Financial Officer. Mr. Burgess will resign from all of
his positions with the Company and its subsidiaries effective
February 23, 2007. Pursuant to the terms of his previously
disclosed Interim Severance Agreement with the Company, Mr.
Burgess will receive six-months severance compensation. In
addition, in recognition of his service to the Company, the
Board of Directors of the Company will permit the restrictions
on 8,267 shares of continuous employment restricted stock
previously awarded under the Company's 2003 Restated Employees'
Stock Incentive Plan to lapse upon the date of resignation. Mr.
Burgess will continue to assist the Company until his
resignation becomes effective.
The full text of the press release disclosing the resignation of
Mr. Burgess is attached hereto as Exhibit 99.1.
Item 9.01. FINANCIAL STATEMENTS AND EXHIBITS
(d) Exhibits
The following exhibit is furnished with this Current Report on
Form 8-K:
99.1 Press release of Key Technology, Inc. dated January 31,
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 thereunto duly authorized.
KEY TECHNOLOGY, INC.
/s/DAVID M. CAMP
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David M. Camp
President and Chief Executive Officer
Dated: January 31, 2007
EXHIBIT INDEX
Exhibit No. Description
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99.1 Press release of Key Technology, Inc. dated January 31, 2007