Unassociated Document
SECURITIES
AND EXCHANGE COMMISSION
Washington,
DC 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
7, 2010
DIGIRAD
CORPORATION
(Exact
name of registrant as specified in its charter)
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Delaware
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000-50789
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33-0145723
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(State
or other jurisdiction of incorporation)
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(Commission
File Number)
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(IRS
Employer
Identification
No.)
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13950
Stowe Drive
Poway,
California 92064
(Address
of principal executive offices, including zip code)
(858)
726-1600
(Registrant’s
telephone number, including area code)
N/A
(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:
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o
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Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
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o
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
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o
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
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o
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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 Principal Officers; Election of Directors;
Appointment of Principal Officers.
On
January 7, 2010, the compensation committee of the board of directors of Digirad
Corporation, or the Company, modified the compensation and title of Randy L.
Weatherhead, Senior
Vice President, Marketing and Business Development, in connection with
a change in the
management structure of the Company’s product division.
In 2009,
Mr. Weatherhead was paid an annual base salary of $225,000. In
addition, Mr. Weatherhead’s performance bonus for 2009 had a target amount equal
to at least 40% of his annual base salary. Mr. Weatherhead’s
eligibility for such bonus was conditioned upon the achievement of certain
corporate and personal goals, as previously disclosed.
In
connection with the modifications to his compensation, Mr. Weatherhead’s annual
base salary will be reduced to $200,000. In addition, Mr.
Weatherhead’s performance bonus for 2010 will have a target amount equal to 65%
of his annual base salary, 85% of which will be tied to the Company’s
achievement of camera sales targets and 15% of which will be based upon
consolidated profit and cash targets, to be determined.
In
addition to the modification in compensation, the compensation committee
approved a modification to Mr. Weatherhead’s title from Senior Vice President,
Marketing and Business Development to Senior Vice President, Sales and
Marketing. In connection with the modification of his title, Mr.
Weatherhead’s duties and responsibilities were amended to focus on the Company’s
sales and marketing efforts for the Company’s product division. He
will continue to oversee the marketing efforts for the corporation as a
whole.
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.
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DIGIRAD
CORPORATION
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By:
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/s/
Todd Clyde
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Todd
Clyde
Chief
Executive Officer
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Date: January
8, 2010