Enova Systems, Inc. (Form: 8-K)  

 

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):   December 18, 2009

Enova Systems, Inc.
__________________________________________
(Exact name of registrant as specified in its charter)

     
California 1-33001 95-3056150
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(State or other jurisdiction 		_____________
(Commission 		______________
(I.R.S. Employer
of incorporation) File Number) Identification No.)
      
1560 West 190th Street, Torrance, California   90501
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(Address of principal executive offices) 		  ___________
(Zip Code)
     
Registrant’s telephone number, including area code:   310-527-2800

Not Applicable
______________________________________________
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:

[  ]  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))

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Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On December 18, 2009, the Board of Directors (the "Board") of Enova Systems, Inc. ("Enova") approved stock option grants under the Company's 2006 Equity Compensation Plan to Michael Staran, Enova's Chief Executive Officer; Jarett Fenton, Enova's Chief Financial Officer; and John Mullins, Enova's Chief Operating Officer.

Mr. Staran was granted a ten year option to purchase 100,000 shares of Common Stock at an exercise price of $1.26 per share.

Mr. Fenton was granted a ten year option to purchase 50,000 shares of Common Stock at an exercise price of $1.26 per share.

Mr. Mullins was granted a ten year option to purchase 50,000 shares of Common Stock at an exercise price of $1.26 per share.

The options granted by the Board vest over three years of the grant amount on a quarterly basis on the last day of each calendar quarter provided the optionee is then an officer of Enova as of such date. The first 1/12 or 8.33% of the shares under each option will vest on January 1, 2010. In the event there is a change of control of Enova, the options will become fully vested.





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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.

         
    Enova Systems, Inc.
          
December 24, 2009   By:   Jarett Fenton
       
        Name: Jarett Fenton
        Title: Chief Financial Officer