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): November 8, 2012
Sono-Tek Corporation
(Exact name of registrant as specified in its charter)
Commission File Number: 0-16035
| New York | 14-1568099 |
| (State of Incorporation) | (I.R.S. Employer ID No.) |
| 2012 Route 9W, Milton, New York | 12547 |
| (Address of Principal Executive Offices) | (Zip Code) |
Registrant’s telephone number, including area code (845) 795-2020
Check appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligations of the registrant under any of the following provisions:
[ ] Written communications pursuant to Rule 425 under 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: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On November 8, 2012, Sono-Tek Corporation’s Board of Directors granted options to the officers named in the table below at an exercise price of $0.61. These options vest as follows: 33.33% on the date of grant, 33.33% one year from the date of grant and 33.33% two years from the date of grant. The options expire ten years from the date of grant.
In exchange for the newly issued options, the Officers surrendered their outstanding options and these were cancelled. The surrendered options were set to expire at various dates from 2014 to 2021.
| Options | Average | Options | New | |||||||||||||
| Surrendered | Strike Price | Issued | Strike Price | |||||||||||||
| Christopher L. Coccio, CEO | 486,893 | $ | 0.95 | 486,893 | $ | 0.61 | ||||||||||
| R. Stephen Harshbarger, Pres. | 10,000 | $ | 0.95 | 10,000 | $ | 0.61 | ||||||||||
| Joseph Riemer, VP | 264,975 | $ | 1.02 | 264,975 | $ | 0.61 | ||||||||||
| Stephen J. Bagley, CFO | 48,850 | $ | 0.81 | 48,850 | $ | 0.61 | ||||||||||
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.
SONO-TEK CORPORATION
By: /s/ Stephen J. Bagley
Stephen J. Bagley
Chief Financial Officer
November 15, 2012