Executive Change

8-K 1 daio_8k.htm CURRENT REPORT   UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549   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 7, 2020   Data I/O Corporation (Exact name of registrant as specified in its charter)     Washington   0-10394   91-0864123   (State or other jurisdiction of incorporation)   (Commission File Number)   (IRS Employer Identification No.)        6645 185th Ave. N.E., Suite 100, Redmond, WA 98052 (Address of principal executive offices, including zip code)   (425) 881-6444 (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:   □ Written communications pursuant to Rule 425 under the 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))   Securities registered pursuant to Section 12(b) of the Act:     Title of each class Trading Symbol(s)   Name of each exchange on which registered   Common Stock   DAIO   NASDAQ   Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).   Emerging growth company   □   If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the   Exchange Act □         Items reported in this filing:   Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers   Data I/O Corporation’s Board of Directors, with officer agreement, made changes in Director and Officer compensation in response to the impact on our business, customers and industry resulting from the novel coronavirus or COVID-19 worldwide .   Director cash compensation has been reduced by 20% for six months and the remaining 80% deferred for six months starting in April.   Executive Officer base salary compensation has been reduced by 20% for six months starting in April. Other compensation elements will be unaffected by this change.           SIGNATURE   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.     Data I/O Corporation           Date : April 9, 2020 By:   /s/ Joel S. Hatlen         Joel S. Hatlen         Vice PresidentChief Operating and Financial Officer