UNITED STATES
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): October 14, 2006

Cholestech Corporation

(Exact name of registrant as specified in its charter)

California		000-20198		94-3065493
(State or other jurisdiction of		(Commission File Number)		(IRS Employer
incorporation)				Identification No.)

3347 Investment Boulevard
Hayward, California 94545
(Address of principal executive offices, including zip code)

(510) 732-7200
(Registrant’s telephone number, including area code)

(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 (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))

 

 

Section 1 — Registrant’s Business and Operations

Item 1.01 Entry into a Material Definitive Agreement

The Compensation Committee of the Board of Directors of Cholestech Corporation (“Cholestech”) approved the modification of the cash compensation arrangements for Cholestech’s non-employee directors. The new arrangements are as follows:

		Prior				New
		Compensation				Compensation
Chairman of the Board
Annual Retainer		$	24,000			$	28,000
Per Meeting Fee		$	2,000			$	2,500
Per Telephonic Meeting Fee		$	1,000			$	1,250
Non-Chairman Director
Annual Retainer		$	12,000			$	16,000
Per Meeting Fee		$	1,000			$	1,500
Per Telephonic Meeting Fee		$	500			$	750
Committee Chair Retainer:
Audit Committee		$	6,000			$	6,000
Compensation Committee		$	3,000			$	3,000
Per Meeting Fee (if same day as regular board meeting)		$	1,000			$	1,250
Per Meeting Fee (if not same day as regular board meeting)		$	2,000			$	2,500
Per Telephonic Meeting Fee		$	1,000			$	1,250
Committee Member (non-chair):
Per Meeting Fee (if same day as regular board meeting)		$	500			$	750
Per Meeting Fee (if not same day as regular board meeting)		$	1,000			$	1,500
Per Telephonic Meeting Fee		$	500			$	750

The equity compensation program for the Board of Directors remained unchanged.

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.

Date: October 27, 2006