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): February 23, 2012
KVH Industries, Inc.
(Exact Name of Registrant as Specified in Charter)
| Delaware | 0-28082 | |
| (State or Other Jurisdiction of Incorporation) | (Commission File Number) |
05-0420589
(IRS Employer Identification No.)
| 50 Enterprise Center Middletown, RI |
02842 | |
| (Address of Principal Executive Offices) | (Zip Code) |
Registrant’s telephone number, including area code: (401) 847-3327
(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):
¨ 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. | DEPARTURES OF DIRECTORS OR PRINCIPAL OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF PRINCIPAL OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS |
| (b) | Departures of Principal Officers |
On February 23, 2012, Pat Spratt, Chief Financial Officer, advised KVH Industries, Inc. (the “Company”) that he plans to retire from his position later this year. He turns 65 in November. Mr. Spratt intends to stay on until a suitable successor is found and has indicated his willingness to serve as a consultant during his retirement to facilitate a smooth transition.
A copy of the Company’s press release is attached hereto as Exhibit 99.1. The press release is incorporated by reference herein and the foregoing description of the press release is qualified in its entirety by reference to the attached exhibit.
| ITEM 9.01. | FINANCIAL STATEMENTS AND EXHIBITS |
| (d) | Exhibits |
| Exhibit No. |
Description | |
| 99.1 | February 23, 2012 press release entitled “KVH Announces Planned Retirement of CFO” (furnished pursuant to Item 5.02). | |
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.
| KVH INDUSTRIES, INC. | ||||||
| Date: February 23, 2012 | BY: | /s/ MARTIN A. KITS VAN HEYNINGEN | ||||
| Martin A. Kits van Heyningen President, Chief Executive Officer and Chairman of the Board of Directors | ||||||
EXHIBIT INDEX
| Exhibit No. |
Description | |
| 99.1 | February 23, 2012 press release entitled “KVH Announces Planned Retirement of CFO” | |
Exhibit 99.1
FOR IMMEDIATE RELEASE
| Contact: | Nicole Mongillo |
| KVH Industries, Inc. |
| 401-845-2443 |
| nmongillo@kvh.com |
KVH Announces Planned Retirement of CFO
MIDDLETOWN, RI—February 23, 2012—KVH Industries, Inc., (Nasdaq: KVHI) today announced that Chief Financial Officer, Patrick Spratt, plans to retire from his position later this year. He turns 65 in November. Mr. Spratt intends to stay on until a suitable successor is found and has indicated his willingness to serve as a consultant during his retirement to facilitate a smooth transition. He began his successful tenure as Chief Financial Officer of KVH in July 2002.
Martin Kits van Heyningen, KVH’s president and chief executive officer, stated, “Pat has made an incredible contribution to our success during his tenure. He has helped us grow the company profitably over the years and is leaving the company on a very strong financial footing. Pat has built a strong team and his successor will inherit a very capable organization.”
Mr. Spratt added, “I have thoroughly enjoyed everything about my experience at KVH. The people are the best. I am very proud of what we have accomplished together, and I look forward to seeing the company continue to grow and prosper.”
About KVH Industries, Inc.
KVH Industries is a leading manufacturer of solutions that provide global high-speed Internet, television and voice services via satellite to mobile users at sea, on land, and in the air. KVH is also a premier manufacturer of high performance sensors and integrated inertial systems for defense and commercial guidance and stabilization applications. The company is based in Middletown, RI, with facilities in Illinois, Denmark, Norway, and Singapore.
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