<SEC-DOCUMENT>0001171843-11-002613.txt : 20110829
<SEC-HEADER>0001171843-11-002613.hdr.sgml : 20110829
<ACCEPTANCE-DATETIME>20110829113102
ACCESSION NUMBER:		0001171843-11-002613
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20110825
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
FILED AS OF DATE:		20110829
DATE AS OF CHANGE:		20110829

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Clearfield, Inc.
		CENTRAL INDEX KEY:			0000796505
		STANDARD INDUSTRIAL CLASSIFICATION:	TELEPHONE & TELEGRAPH APPARATUS [3661]
		IRS NUMBER:				411347235
		STATE OF INCORPORATION:			MN
		FISCAL YEAR END:			0930

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-16106
		FILM NUMBER:		111061916

	BUSINESS ADDRESS:	
		STREET 1:		5480 NATHAN LANE NORTH
		STREET 2:		SUITE 120
		CITY:			PLYMOUTH
		STATE:			MN
		ZIP:			55442
		BUSINESS PHONE:		763-476-6866

	MAIL ADDRESS:	
		STREET 1:		5480 NATHAN LANE NORTH
		STREET 2:		SUITE 120
		CITY:			PLYMOUTH
		STATE:			MN
		ZIP:			55442

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	APA Enterprises, Inc.
		DATE OF NAME CHANGE:	20041116

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	APA OPTICS INC /MN/
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
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<TYPE>8-K
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<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt; FONT-WEIGHT: bold">UNITED STATES</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">On August 25, 2011, Clearfield, Inc. (the &#8220;Company&#8221;) appointed Daniel Herzog, who is currently serving as Interim Chief Financial Officer, as Chief Financial Officer. Mr. Herzog, 47,&#160;&#160;has been serving in this role since February, 2011 since the passing of the Company&#8217;s former CFO. Mr. Herzog has been an employee of Clearfield since June, 2009 as its Vice President of Administration and previously served as the Company&#8217;s Comptroller and principal accounting officer from September, 2003 through February, 2006. Previously, Mr. Herzog held positions of Controller and Chief Financial Officer at Americable, which was acquired by the firm in 2003. (Mr. Herzog was the Controller at Schwing America, Inc., a manufacturer of concrete pumping equipment, from 2006-2009.) Mr. Herzog received his Bachelors of Arts degree in Accounting in 1986 from Gustavus Adolphus College in St. Peter, Minnesota.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The Compensation Committee of the Board of Directors of the Company (the &#8220;Committee&#8221;) set compensation for Mr. Herzog at a rate of $140,000 a year with bonus potential consistent with that documented on his original offer of employment which is 20% to 50% of salary achieved through obtainment of goals established in the Company&#8217;s Bonus program in which he participates.&#160;&#160;The Committee further awarded a discretionary bonus of $9,500 as recognition for performance in the interim period. He will also continue to participate in the Company&#8217;s health, dental, and life insurance benefit plans on the same basis as other employees of the Company.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Officer Stock Option Awards</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">On August 25, 2011, the Compensation Committee granted options to purchase the Company&#8217;s common stock to certain of the Company&#8217;s executive officers for the Company&#8217;s fiscal year ended September 30, 2011.&#160;&#160;Pursuant to this action, Cheryl P. Beranek, Chief Executive Officer, was granted an option to purchase 30,000 shares of common stock; Johnny Hill, Executive Vice President and Chief Operating Officer, was granted an option to purchase 30,000 shares of common stock; and Daniel Herzog, Chief Financial Officer, was granted an option to purchase 20,000 shares of common stock.&#160;&#160;The stock options were granted as incentive stock options pursuant to the Company&#8217;s 2007 Stock Compensation Plan, as amended, have a term of five years, vest and become exercisable as to one-fifth of the shares beginning the date of grant and on the first four anniversaries of the date of grant thereafter, and have an exercise price equal to the fair market value of the Company&#8217;s common stock on the date of grant.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">By:</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">/s/ Daniel Herzog</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Daniel Herzog, Chief Financial Officer</font></div>
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