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) - January 23, 2008
IEC
ELECTRONICS CORP.
(Exact
Name of Registrant as Specified in its Charter)
Delaware
(State
or
Other Jurisdiction of Incorporation)
|
0-6508
|
13-3458955
|
|
(Commission
File Number)
|
(IRS
Employer Identification
No.)
|
105
Norton Street, Newark, New York 14513
(Address
of principal executive offices)(Zipcode)
(315)
331-7742
(Registrant’s
Telephone Number, Including Area Code)
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:
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 Certain Officers; Election of Directors;
Appointment
of Certain Officers; Compensatory Arrangements of Certain
Officers
|
(e)
In
order
to provide additional retention incentives, the Board of Directors, on January
23, 2008, approved an amendment to the Challenge Award options granted to the
Company's executive officers in Fiscal 2005. The options were amended to delete
vesting and exercise based on the attainment of certain performance goals for
the fiscal years ending September 30, 2008, September 30, 2009 and September
30,
1010 and to provide instead that the options remaining unvested on September
30,
2007 would vest and be exercisable in two equal amounts on May 11, 2009 (or
July
13, 2009 in the case of one executive) and on May 11, 2010 (or July 13, 2010
in
the case of one executive). No options will vest in Fiscal 2008.
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.
| |
|
|
| |
IEC
Electronics
Corp.
(Registrant)
|
|
|
|
| Date:
January 28, 2008 |
By: |
/s/
W.
Barry Gilbert |
| |
W.
Barry Gilbert |
| |
Chairman,
Chief Executive Officer
|