prlb20200429_8k.htm
false 0001443669 0001443669 2020-04-30 2020-04-30
 
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): April 30, 2020
 
 
 
Proto Labs, Inc.
 
(Exact name of registrant as specified in its charter)
 
 
 
Minnesota
 
001-35435
 
41-1939628
(State or other jurisdiction
of incorporation)
 
(Commission File Number)
 
(IRS Employer
Identification Number)
  
 
5540 Pioneer Creek Drive
 Maple Plain, Minnesota
 
55359
(Address of principal executive offices)
 
(Zip Code)
 
 
 
Registrant’s telephone number, including area code:
 
(763) 479-3680
  
 
Not Applicable
(Former name or former address, if changed since last report)
 
 
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, Par Value $0.001 Per Share
PRLB
New York Stock Exchange
 
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))
 
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 or Rule 12b-2 of the Securities Exchange Act of 1934.
 
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.  ☐
 
 
 
 
Item 7.01.
Regulation FD Disclosure.
 
On April 30, 2020, the Compensation Committee (the “Committee”) of the Board of Directors (the “Board”) of Proto Labs, Inc. (the “Company”) approved reductions to the base salaries of the Company’s executive leadership team (including all of its executive officers) as follows:
 
•     20% for the Company’s President and Chief Executive Officer; and
•     10% for all other members of the Company’s executive leadership team.
 
In addition, the Board approved a 20% reduction in the annual cash retainer paid to non-employee directors.
 
The reductions described above will take effect on May 4, 2020, and will stay in effect until June 30, 2020, unless extended by further action of the Committee.
 
 
 
 
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.
 
 
 
 
 
Proto Labs, Inc.
 
 
 
 
 
 
 
 
 
 
Date:
April 30, 2020
By:
/s/ John A. Way
 
 
 
 
John A. Way
 
 
 
 
Chief Financial Officer