Current Report

Table of Contents

 
 
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): April 1, 2009
  iROBOT CORPORATION  
(Exact Name of Registrant as Specified in its Charter)
           Delaware
(State or Other Jurisdiction of Incorporation)
     
      000-51598          77-0259335
     
(Commission File Number)   (IRS Employer Identification No.)
     
  8 Crosby Drive, Bedford, Massachusetts       01730 
     
(Address of Principal Executive Offices)   (Zip Code)
Registrant’s telephone number, including area code: (781) 430-3000
     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):
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))
 
 

 

TABLE OF CONTENTS

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 7.01 Regulation FD Disclosure
Item 9.01 Financial Statements and Exhibits
SIGNATURES
EXHIBIT INDEX
Ex-99.1 Press Release issued by the registrant on March 30, 2009

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Item 5.02   Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
     On April 1, 2009, iRobot Corporation (the “Company”) appointed Jeffrey A. Beck as president of its home robots division. Prior to joining the Company, Mr. Beck, age 46, served at AMETEK Corporation as Senior Vice President and General Manager, Aerospace & Defense from 2008 to 2009 and as Vice President & General Manager, Power Systems and Instruments Division from 2004 to 2008. From 1996 to 2004, Mr. Beck served in a number of positions at Danaher Corporation, including President, Danaher Precision Systems Division and Vice President of Sales, Kollmorgen I&C Division. Mr. Beck holds a B.S. in Mechanical Engineering from the New Jersey Institute of Technology and an M.B.A. from Boston University.
     In connection with his appointment, Mr. Beck and the Company have entered into an executive agreement and an indemnification agreement, the forms of which are attached as exhibits to the Company’s annual report on Form 10-K and are incorporated herein by reference. Mr. Beck will receive an annual base salary of approximately $325,000 and will receive a 2009 bonus under the Company’s Senior Executive Incentive Compensation Program equal to 65% of his total base compensation earned in 2009. In addition, subject to the approval of the Board of Directors, on April 24, 2009 (the “Grant Date”), Mr. Beck will be granted a stock option exercisable for 150,000 shares of the Company’s common stock at the closing price on the Grant Date and 35,000 restricted stock units. The stock option will vest 25% on the first anniversary of the Grant Date and quarterly over the following three years, and the restricted stock units will vest 25% on each anniversary of the Grant Date.
Item 7.01 Regulation FD Disclosure.
     On March 30, 2009, the Company issued a press release, a copy of which is being furnished as Exhibit 99.1 to this Current Report on Form 8-K.
     The information in this Item 7.01 and Exhibit 99.1 attached hereto is intended to be furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 (the “Exchange Act”) or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Exchange Act, except as expressly set forth by specific reference in such filing.
Item 9.01 Financial Statements and Exhibits.
  (d)   Exhibits:
 
  99.1   Press Release issued by the registrant on March 30, 2009, furnished herewith.

 

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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.
         
  iRobot Corporation
  		 
April 2, 2009  By:   /s/ Glen D. Weinstein    
    Name:   Glen D. Weinstein   
    Title:   General Counsel and Secretary   

 

Table of Contents

         
EXHIBIT INDEX
     
Exhibit Number   Description
 
   
99.1
  Press Release issued by the registrant on March 30, 2009, furnished herewith.

 

Exhibit 99.1
(IROBOT LOGO)
     
Contacts:
   
Elise Caffrey
  Nancy Smith
Investor Relations
  Media Relations
iRobot Corp.
  iRobot Corp.
(781) 430-3003
  (781) 430-3323
ecaffrey@irobot.com
  nsmith@irobot.com
iRobot Names Jeffrey Beck President and General Manager of its Home Robots Division
BEDFORD, Mass., March 30, 2009 – iRobot Corp. (Nasdaq: IRBT) today announced that Jeffrey A. Beck has joined the company as president and general manager of its Home Robots division. In this role, Beck will be responsible for all aspects of the division’s global strategy, product development and operations. He will report directly to Colin Angle, chairman and chief executive officer.
“Jeff’s experience as a general manager and passion for growing businesses has provided him with the tools to successfully lead our Home Robots division,” said Angle. “We are excited that Jeff is joining iRobot, as he and the team will continue to expand the company’s global portfolio of home products and deliver on our promise of creating practical robots that make a meaningful difference in people’s lives.”
iRobot’s acclaimed line of home robots includes the iRobot Roomba ® vacuum cleaning robot, iRobot Scooba ® floor washing robot, iRobot Dirt Dog ® shop sweeping robot, iRobot Verro ® pool cleaning robot and iRobot Looj™ gutter cleaning robot.
Beck brings more than 20 years of high-technology leadership to iRobot. Most recently, he served as senior vice president and general manager of the aerospace and defense division of AMETEK, Inc. This business serves the global aerospace and defense markets with highly differentiated products and services from over 20 operating sites in North America, Europe and Asia.
“I am very excited to join iRobot. This is the time when the development of consumer robotics and related technologies has advanced to the point where products can effectively and reliably execute tasks that were unthinkable just a few years ago,” said Beck. “Consumers are increasingly receptive to the delegation of tasks to robotic solutions. iRobot is well positioned to extend its leadership in this growing industry.”
Previously, Beck held senior management positions at Danaher Corporation and Emerson Electric Corporation. At Danaher, Beck oversaw the growth of the company’s Precision Systems division, which manufactured high-precision robotic, electromechanical systems used in a variety of high-tech manufacturing and laboratory environments. Beck holds a bachelor’s degree in mechanical engineering from the New Jersey Institute of Technology and a master’s degree in business administration from Boston University.
iRobot Corporation
8 Crosby Drive, Bedford, MA 01730-1402 Ÿ 781.430.3000 Ÿ Fax 781.430.3001 Ÿ www.irobot.com

 

 

(IROBOT LOGO)
About iRobot Corp.
iRobot designs and builds robots that make a difference. The company’s home robots help people find smarter ways to clean, and its government and industrial robots help protect those in harm’s way. iRobot’s consumer and military robots feature iRobot AWARE™ robot intelligence systems, proprietary technology incorporating advanced concepts in navigation, mobility, manipulation and artificial intelligence. For more information about iRobot, please visit www.irobot.com.
For iRobot Investors
Certain statements made in this press release that are not based on historical information are forward-looking statements which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.  This press release contains express or implied forward-looking statements relating to, among other things, iRobot Corp.’s expectations concerning product development and marketing plans.  These statements are neither promises nor guarantees, but are subject to a variety of risks and uncertainties, many of which are beyond our control, which could cause actual results to differ materially from those contemplated in these forward-looking statements.  In particular, the risks and uncertainties include, among other things: our ability to enhance our current consumer robots or develop new consumer robots, and our ability to expand our product offering beyond our current markets.  Existing and prospective investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof.  iRobot Corp. undertakes no obligation to update or revise the information contained in this press release, whether as a result of new information, future events or circumstances or otherwise.  For additional disclosure regarding these and other risks faced by iRobot Corp., see the disclosure contained in our public filings with the Securities and Exchange Commission including, without limitation, our most recent Annual Report on Form 10-K.
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iRobot Corporation
8 Crosby Drive, Bedford, MA 01730-1402 Ÿ 781.430.3000 Ÿ Fax 781.430.3001 Ÿ www.irobot.com