UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549
FORM 8-K CURRENT REPORT
Pursuant to Section 13 or 15(d) of the |
Date of Report: November 21, 2005
(Date of earliest event reported)
Vicor Corporation
(Exact name of registrant as specified in its charter)
Delaware
(State or other jurisdiction
of incorporation)
0-18277
(Commission File Number)
04-2742817
(IRS Employer
Identification Number)
25 Frontage Road, Andover, Massachusetts
(Address of principal executive offices)
01810
(Zip Code)
(978) 470-2900
(Registrant's telephone number, including area code)
Not Applicable
(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:
- 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))
- o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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Item 8.01. Other Events On November 21, 2005, Vicor Corporation issued a press release announcing that certain executive officers and directors have adopted a Rule 10b5-1 plan. The full text of that press release is attached as Exhibit 99.1 hereto and incorporated by reference herein.
Item 9.01. Financial Statements and Exhibits 99.1 Press Release of Vicor Corporation dated November 21, 2005
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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Dated: November 21, 2005 |
VICOR CORPORATION
By: /s/ Patrizio Vinciarelli |
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| Exhibit No. | Description |
| 99.1 | Press Release of Vicor Corporation dated November 21, 2005 |
ANDOVER, MA -- 11/21/2005 -- Vicor Corporation (NASDAQ: VICR) today announced that certain of its executive officers and directors have adopted prearranged stock trading plans in accordance with guidelines specified by Rule 10b5-1 under the Securities Exchange Act of 1934, as amended.
Rule 10b5-1 allows programs to be established that permit corporate insiders to prearrange sales of company securities at a time when they are not aware of any material non-public information. Such a program typically involves establishing a written plan to sell shares over a set period of time. These pre-planned trades will be executed at a later date, as set forth in the plan, without further action or oversight by the executive officer or director and without regard to any subsequent non-public information the individual might have received. A plan can provide for sales of stock on a particular date or at a particular price or a combination of both of these factors along with others. The rule allows insiders to diversify their investment portfolios and to avoid concerns about initiating stock transactions while in possession of material nonpublic information.
Under a 10b5-1 plan adopted by Patrizio Vinciarelli, chairman and CEO, an aggregate of up to 1,000,000 shares of common stock may be sold after December 5, 2005 and prior to December 31, 2006 in equal installments at $.50 increments of price ranging from a minimum of $18 to $37.50 per share. The maximum amount which may be sold under the plan represents less than 5% of the stock owned by Patrizio Vinciarelli. Estia J. Eichten, a director, has adopted a similar 10b5-1 plan providing for the sale of up to 100,000 shares, representing less than 10% of the stock owned by him. Because stock sales under the plan are dependent on common stock price increases, it is not possible to predict how many shares, if any, will actually be sold under the plan or the timing of any such sales.
Vicor Corporation designs, develops, manufactures and markets modular power components and complete power systems based upon a portfolio of patented technologies. Headquartered in Andover, Massachusetts, Vicor sells its products primarily to the communications, information technology, industrial control and military electronics markets.
For further information contact: Mark A. Glazer Chief Financial Officer Vicor Corporation Tel: 978-470-2900 Fax: 978-749-3439