form8-k.htm
UNITED
STATES
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): November 16, 2009
FIRST SOLAR, INC.
(Exact
name of registrant as specified in its charter)
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Delaware
(State
or other jurisdiction
of
incorporation)
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001-33156
(Commission
File
Number)
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20-4623678
(I.R.S.
Employer
Identification
No.)
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350
West Washington Street
Suite 600
Tempe,
Arizona 85281
(Address
of Principal Executive Offices) (Zip Code)
Registrant’s
telephone number, including area code: (602) 414-9300
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))
Item
5.02. Departure of Directors or Certain Officers; Election of
Directors; Appointment of Certain Officers; Compensation Arrangements of Certain
Officers.
Effective
December 1, 2009, First Solar, Inc. (the “Company”) and John T. Gaffney,
Executive Vice President and Corporate Secretary of the Company, mutually agreed
to end Mr. Gaffney’s employment with the Company. Mr. Gaffney will
receive certain compensation and benefits in accordance with the terms of his
employment agreement, as well as an annual bonus for 2009, with the amount of
such bonus to be determined consistent with the Company’s bonus program
currently in effect for all employees. Mr. Gaffney entered into a
non-competition and non-solicitation agreement and a confidentiality and
intellectual property agreement upon his employment, both of which shall
continue to apply in accordance with their terms. The aforementioned
severance arrangements (which were not reflected in the guidance given on the
Company’s October 28, 2009 earnings call) will impact net income by
approximately $6.9 million in the fourth quarter of 2009.
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.
FIRST SOLAR, INC.
Date: November
17,
2009 By:/s/ Mary Beth
Gustafsson
Name: Mary
Beth Gustafsson
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Title:
Executive Vice President, General
Counsel
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