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) July 29,
2010
ACORN
ENERGY, INC.
(Exact
name of Registrant as Specified in its Charter)
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Delaware
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0-19771
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22-2786081
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(State
or Other Jurisdiction
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(Commission
file Number)
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(IRS
Employer
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of
Incorporation)
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Identification
No.)
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4 West Rockland Road, Montchanin,
Delaware
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19710
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(Address
of Principal Executive Offices)
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(Zip
Code)
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Registrant’s
telephone number, including area code (302)
656-1707
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-2 under the Exchange Act (17 CFR
240.14a-2)
¨ 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.
On June
29, 2010, the Board of Directors of Acorn Energy, Inc. appointed Steven Ledger
to serve as a director.
Mr.
Ledger is the Managing Member of Tamalpais Partners, a privately-held investment
company.
Upon his
appointment to the board, pursuant to the company’s 2006 Stock Option Plan For
Non-Employee Directors, Mr. Ledger was granted options to purchase 25,000 shares
of the company’s common stock at an exercise price of $5.05 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.
In
accordance with the company’s director compensation policy, Mr. Ledger will
receive an annual retainer of $40,000 payable quarterly in advance, as well as
meeting fees for board and committee meetings of $1,000 per
meeting. The Board of Directors has not yet determined on which of
its committees Mr. Ledger will serve.
There are
no arrangements or understandings between Mr. Ledger and any other person
pursuant to which Mr. Ledger was elected as a director. There are no
transactions in which Mr. Ledger has an interest requiring disclosure under Item
404(a) of Regulation S-K.
A press
release announcing Mr. Ledger’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 Energy, Inc., dated July 30, 2010
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 30th day of
July, 2010.
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ACORN
ENERGY, INC.
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By:
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/s/ Joe B. Cogdell, Jr.
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Name:
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Joe
B. Cogdell, Jr.
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Title:
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Vice
President, General Counsel and
Secretary
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