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SOLAR3D, INC. FILES (8-K) Disclosing Change in Directors or Principal Officers

August 29, 2014



Item 5.02. Departure of Directors or Certain Officers, Appointment of

Certain Officers, Compensatory Arrangements of Certain Officers.



On August 26, 2014, Solar3D, Inc., a Delaware corporation (the "Company"), entered into an amendment (the "Amendment") to its Restricted Stock Grant Agreement (the "RSGA") with its Chief Executive Officer, James B. Nelson, originally dated September 23, 2013 and amended on May 1, 2014, having the effect of reverting back to the original schedule for issuing shares earned by Mr. Nelson and vested under the Agreement to within five (5) business days after the last day of the month during which the restricted shares vest.

The Company proposed to Mr. Nelson that the RSGA revert back to the original schedule for issuing shares earned by Mr. Nelson under the RSGA based on its determination that under the original RSGA the Company would recognize the compensation expense in 2014 rather than in 2015. The Company believes that this expense will be less under the original RSGA than under the first amendment to the RSGA because the Company believes its stock price will be higher in 2015 than in 2014. There is no assurance regarding the Company's share price at any time. Mr. Nelson agreed to revert back to the original terms of his RSGA even though he will personally recognize income in 2014 rather than in 2015.

A copy of the Amendment to the Restricted Stock Grant Agreement is attached to this Report as Exhibit 10.1.


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Source: Edgar Glimpses


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