<SEC-DOCUMENT>0001140361-16-057696.txt : 20160314
<SEC-HEADER>0001140361-16-057696.hdr.sgml : 20160314
<ACCEPTANCE-DATETIME>20160314172024
ACCESSION NUMBER:		0001140361-16-057696
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20160308
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
FILED AS OF DATE:		20160314
DATE AS OF CHANGE:		20160314

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			USA TECHNOLOGIES INC
		CENTRAL INDEX KEY:			0000896429
		STANDARD INDUSTRIAL CLASSIFICATION:	CALCULATING & ACCOUNTING MACHINES (NO ELECTRONIC COMPUTERS) [3578]
		IRS NUMBER:				232679963
		STATE OF INCORPORATION:			PA
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-33365
		FILM NUMBER:		161504797

	BUSINESS ADDRESS:	
		STREET 1:		100 DEERFIELD LANE
		STREET 2:		SUITE 140
		CITY:			MALVERN
		STATE:			PA
		ZIP:			19355
		BUSINESS PHONE:		6109890340

	MAIL ADDRESS:	
		STREET 1:		100 DEERFIELD LANE
		STREET 2:		SUITE 140
		CITY:			MALVERN
		STATE:			PA
		ZIP:			19355

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	USA ENTERTAINMENT CENTER INC
		DATE OF NAME CHANGE:	19931029
</SEC-HEADER>
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<DESCRIPTION>USA TECHNOLOGIES, INC. 8-K 3-8-2016
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<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 14pt">SECURITIES AND EXCHANGE COMMISSION</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 12pt">Washington, D.C. 20549</div>

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<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 18pt">FORM 8-K</div>

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<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Current Report Pursuant to Section 13 or 15(d) of</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">The Securities Exchange Act of 1934</div>

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<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Date of report (Date of earliest event reported): March 8, 2016</div>

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<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 24pt">USA TECHNOLOGIES, INC.</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(Exact name of registrant as specified in its charter)</div>

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<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">100 Deerfield Lane, Suite 140</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Malvern, Pennsylvania 19355</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(Address of principal executive offices and zip code)</div>

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<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Registrant&#8217;s telephone number, including area code: 610-989-0340</div>

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<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">n/a</div>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">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:</div>

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<td style="WIDTH: 54pt; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; FONT-WEIGHT: bold; align: right">Item 5.02.</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; FONT-WEIGHT: bold">Departure of Directors or Principal Officers; Appointment of Principal Officers</td>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(c) On March 8, 2016, USA Technologies, Inc. (the &#8220;Company&#8221;) appointed Michael K. Lawlor, age 54, as Chief Services Officer (&#8220;CSO&#8221;). Mr. Lawlor had previously served as the Company&#8217;s Senior Vice President of Sales and Business Development since June 2010 pursuant to which he had been responsible for the Company&#8217;s sales and business development efforts. In his new role as CSO, Mr. Lawlor will be responsible for overseeing the Company&#8217;s ePort Connect Service, including delivery to customers of the ePort Connect suite of cashless payment, consumer engagement, loyalty and telemetry services, customer service and support, premium support services,&#160;Knowledge Base, and strategic partner development.</div>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Mr. Lawlor&#8217;s annual base salary is $235,000. He is eligible to participate in the Company&#8217;s Fiscal Year 2016 Short-Term Incentive Plan (the &#8220;2016 STI Plan&#8221;) and Fiscal Year 2016 Long-Term Stock Incentive Plan (the &#8220;2016 LTI Stock Plan&#8221;) established for the executive officers of the Company. If all of Mr. Lawlor&#8217;s target goals are achieved under the 2016 STI Plan, he would earn a cash bonus of 20% of base salary, and if all of the maximum distinguished target goals are achieved, he would earn a cash bonus of 40% of base salary. If all of the year-over-year percentage target goals are achieved under the 2016 LTI Stock Plan, Mr. Lawlor would be awarded shares having a value of 75% of base salary, and if all of the maximum distinguished year-over-year percentage target goals are achieved, Mr. Lawlor would be awarded shares having a value of 150% of base salary. On January 12, 2016, Mr. Lawlor was granted incentive stock options intended to qualify under Section 422 of the Internal Revenue Code of 1986, as amended, to purchase up to 75,000 shares of common stock of the Company at an exercise price of $2.94 per share. The options vest as follows: one-third on January 12, 2017; one-third on January 12, 2018; and one-third on January 12, 2019. The options expire if not exercised prior to January 12, 2023. Except for Mr. Lawlor&#8217;s new role as CSO, and the foregoing compensation arrangements, the terms of Mr. Lawlor&#8217;s employment with the Company will remain the same as previously reported.</div>

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<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">SIGNATURES</div>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Pursuant to the Securities Exchange Act of 1934, the Company has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</div>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">USA TECHNOLOGIES, INC.</div>
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<td style="WIDTH: 50%; VERTICAL-ALIGN: top">Dated:&#160; March 14, 2016</td>
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<div style="TEXT-ALIGN: left"><u>/s/ Stephen P. Herbert</u></div>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Stephen P. Herbert,</div>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Chairman and Chief Executive Officer</div>
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