Business Context and Reporting Period
This Form 8-K/A is an amendment filed by Harris Stratex Networks, Inc. (noting the metadata reference to Aviat Networks, Inc. appears to be a discrepancy with the filing text) on August 24, 2007, regarding events dated August 14, 2007. The filing corrects disclosures in a previous August 20, 2007 report concerning the 2008 Annual Incentive Plan and the timing of the 2007 Annual Meeting of Stockholders.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. The document focuses exclusively on executive compensation terms and corporate governance events.
Material Changes and Compensation Plan Details
The Board of Directors approved the 2008 Annual Incentive Plan on August 14, 2007. Payouts are weighted 60% on revenue targets and 40% on non-GAAP operating income targets. The following table outlines the potential payments for Named Executive Officers:
| Named Executive Officer | Minimum Payment | Payment if Targets Met | Maximum Payment (Targets Exceeded) |
|---|---|---|---|
| Guy M. Campbell, CEO | $0 | $500,000 | $1,000,000 |
| Sarah A. Dudash, CFO | $0 | $132,000 | $264,000 |
| John W. Koenig, VP Product Line Management | $0 | $105,750 | $211,500 |
| Paul A. Kennard, CTO | $0 | $188,400 | $376,800 |
| Steve J. Gilmore, VP Human Resources | $0 | $84,600 | $169,200 |
Outlook, Risks, and Corporate Events
- Annual Meeting: The 2007 Annual Meeting of Stockholders is scheduled for November 14, 2007, at 12:30 p.m. local time at the company's San Jose, California offices.
- Record Date: Stockholders of record as of September 21, 2007, are entitled to vote.
- Regulation FD: The meeting details are furnished under Regulation FD and are not deemed filed for purposes of the Securities Exchange Act of 1934.
Investor Verification Checklist
- Verify the correct registrant name (Harris Stratex Networks, Inc. vs. Aviat Networks, Inc.) in relation to the metadata provided.
- Confirm the specific revenue and non-GAAP operating income targets required to trigger the 2008 incentive payouts.
- Review the original Form 8-K filed on August 20, 2007, to understand the full context of the corrections made in this 8-K/A.
- Check subsequent filings to confirm if the November 14, 2007, Annual Meeting occurred as scheduled.