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): May 8, 2007
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Exact Name of Registrant as
Specified in Its Charter: CalAmp Corp.
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DELAWARE 0-12182 95-3647070
_____________________________ ____________ _____________
State or Other Jurisdiction of Commission I.R.S. Employer
Incorporation or Organization File Number Identification No.
Address of Principal Executive Offices: 1401 N. Rice Avenue
Oxnard, CA 93030
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Registrant's Telephone Number, Including
Area Code: (805) 987-9000
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Former Name or Former Address,
if Changed Since Last Report: Not applicable
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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 425 under the Exchange Act
(17 CFR 240.14.a-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 COMPENSATORY ARANGEMENTS OF CERTAIN OFFICERS
On May 8, 2007, the Board of Directors of CalAmp Corp. (the "Company"),
upon the recommendation of the Compensation Committee, established the target
and maximum bonuses and performance goals under the fiscal 2008 executive
officer incentive compensation plan. The individuals covered by the fiscal
2008 executive officer incentive compensation plan are:
* Fred Sturm President and Chief Executive Officer
* Michael Burdiek President, Wireless DataCom Division (1)
(formerly Executive Vice President - Wireless
Datacom Strategy and Integration)
* Patrick Hutchins President, Satellite Division (1)
(formerly President, Products Division)
* Garo Sarkissian Vice President Corporate Development
* Richard Vitelle Vice President Finance, Chief Financial Officer
and Corporate Secretary
Mr. Sturm is eligible for target and maximum bonuses of up to 80% and
150%, respectively, of his annual salary. Messrs. Burdiek, Hutchins and
Vitelle are each eligible for target bonuses of up to 50% of annual salary,
and maximum bonuses of up to 120% of annual salary. Mr. Sarkissian is
eligible for target and maximum bonuses of up to 40% and 80%, respectively,
of his annual salary.
The target and maximum bonus amounts for Messrs. Sturm and Vitelle are
based 70% on the Company attaining certain levels of consolidated revenue
and consolidated operating income for fiscal 2008 and 30% on these
individuals achieving certain other business goals.
The target and maximum bonus amounts for Mr. Hutchins are based 50% on
the Satellite Division attaining certain levels of revenue and operating
income for fiscal 2008, 30% on the Company attaining certain levels of
consolidated revenue and consolidated operating income for fiscal 2008, and
20% on Mr. Hutchins achieving certain other business goals.
The target and maximum bonus amounts for Mr. Burdiek are based 60% on
the Wireless DataCom Division attaining certain levels of revenue and
operating income for fiscal 2008, 20% on the Company attaining certain
levels of consolidated revenue and consolidated operating income for fiscal
2008, and 20% on Mr. Burdiek achieving certain other business goals.
The target and maximum bonus amounts for Mr. Sarkissian are based 60%
on the Company attaining certain levels of consolidated revenue and
consolidated operating income for fiscal 2008 and 40% on Mr. Sarkissian
achieving certain other business goals.
(1) Effective in March 2007, at the beginning of CalAmp Corp.'s fiscal 2008,
the Products Division was segregated into two new reporting segments, the
Satellite Division and the Wireless DataCom Division.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, as
amended, the Registrant has duly caused this report to be filed on its
behalf by the undersigned hereunto duly authorized.
CALAMP CORP.
May 14, 2007 By: /s/ Richard K. Vitelle
_________________ _________________________
Date Richard K. Vitelle,
Vice President-Finance
(Principal Financial Officer)