<SEC-DOCUMENT>0001178913-20-000297.txt : 20200206
<SEC-HEADER>0001178913-20-000297.hdr.sgml : 20200206
<ACCEPTANCE-DATETIME>20200206112519
ACCESSION NUMBER:		0001178913-20-000297
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20200206
FILED AS OF DATE:		20200206
DATE AS OF CHANGE:		20200206

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Perion Network Ltd.
		CENTRAL INDEX KEY:			0001338940
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-COMPUTER PROGRAMMING SERVICES [7371]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			L3
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-51694
		FILM NUMBER:		20581761

	BUSINESS ADDRESS:	
		STREET 1:		AZRIELI CENTER 1, BUILDING A, 4TH FLOOR
		STREET 2:		26 HAROKMIM ST.
		CITY:			HOLON
		STATE:			L3
		ZIP:			5885849
		BUSINESS PHONE:		972-73-398-1572

	MAIL ADDRESS:	
		STREET 1:		AZRIELI CENTER 1, BUILDING A, 4TH FLOOR
		STREET 2:		26 HAROKMIM ST.
		CITY:			HOLON
		STATE:			L3
		ZIP:			5885849

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Perion Networks Ltd.
		DATE OF NAME CHANGE:	20111108

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	IncrediMail Ltd.
		DATE OF NAME CHANGE:	20050916
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>zk2023928.htm
<DESCRIPTION>6-K
<TEXT>
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      <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-size: 14pt; font-weight: bold; background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-style: normal; font-variant: normal; text-transform: none;">UNITED STATES</div>
      <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-size: 14pt; font-weight: bold; background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-style: normal; font-variant: normal; text-transform: none;">SECURITIES AND EXCHANGE COMMISSION</div>
      <div style="text-align: center; line-height: 1.25; font-weight: bold;">Washington, D.C. 20549</div>
      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
      </div>
      <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-size: 14pt; font-weight: bold; background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-style: normal; font-variant: normal; text-transform: none;">FORM 6-K</div>
      <div style="text-align: center; line-height: 1.25; font-weight: bold;">Report of Foreign Private Issuer</div>
      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
      </div>
      <div style="text-align: center; line-height: 1.25; font-weight: bold;">Pursuant to Rule 13a-16 or 15d-16</div>
      <div style="text-align: center; line-height: 1.25; font-weight: bold;">under the Securities Exchange Act of 1934</div>
      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
      </div>
      <div style="text-align: center; line-height: 1.25;">For the month of February 2020 (Report No. 1)</div>
      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
      </div>
      <div style="text-align: center; line-height: 1.25;">Commission File Number: 000-51694</div>
      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
      </div>
      <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-size: 16pt; font-weight: bold; background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-style: normal; font-variant: normal; text-transform: none;"><u>Perion Network Ltd.</u></div>
      <div style="text-align: center; line-height: 1.25;">(Translation of registrant's name into English)</div>
      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
      </div>
      <div style="text-align: center; line-height: 1.25; font-weight: bold;">1 Azrieli Center, Building A, 4th Floor</div>
      <div style="text-align: center; line-height: 1.25; font-weight: bold;">26 HaRokmim Street, Holon, Israel 5885849</div>
      <div style="text-align: center; line-height: 1.25;">(Address of principal executive offices)</div>
      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
      </div>
      <div style="line-height: 1.25;">Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.</div>
      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
      </div>
      <div style="text-align: center; line-height: 1.25;">Form 20-F &#9746;&#160;&#160; Form 40-F &#9744;</div>
      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
      </div>
      <div style="line-height: 1.25;">Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): <u>N/A</u></div>
      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
      </div>
      <div style="line-height: 1.25;">Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): <u>N/A</u></div>
      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
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      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
      </div>
      <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: bold; background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-style: normal; font-variant: normal; text-transform: none;">Explanatory Note</div>
      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
      </div>
      <div style="text-align: justify; line-height: 1.25;"><font style="background-color: #FFFFFF;">Perion Network Ltd. (</font>the <font style="background-color: #FFFFFF;">&#8220;</font><font style="background-color: #FFFFFF; font-weight: bold;">Registrant</font><font style="background-color: #FFFFFF;">&#8221; or the &#8220;</font><font style="background-color: #FFFFFF; font-weight: bold;">Company</font><font style="background-color: #FFFFFF;">&#8221;) hereby announces that the shareholders of the Company approved Proposals 1-4
          and 6 brought before the annual general meeting of shareholders held on February 6, 2020 (the &#8220;</font><font style="background-color: #FFFFFF; font-weight: bold;">Meeting</font><font style="background-color: #FFFFFF;">&#8221;), by the respective
          requisite majority in accordance with the Israeli Companies Law, 5759-1999 (the &#8220;</font><font style="background-color: #FFFFFF; font-weight: bold;">Companies Law</font><font style="background-color: #FFFFFF;">&#8221;), and the Company&#8217;s articles of
          association, as described in the </font>Proxy Statement which was attached as Exhibit 99.1 to the Company&#8217;s Report of Foreign Private Issuer on Form 6-K, furnished to the Securities and Exchange Commission, or SEC, on December 26, 2019 (the &#8220;<font style="font-weight: bold;">Proxy Statement</font>&#8221;)<font style="background-color: #FFFFFF;">, and sent in connection with the Meeting.</font></div>
      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
      </div>
      <div style="text-align: justify; line-height: 1.25;"><font style="background-color: #FFFFFF;">12,871,514 ordinary shares, representing approximately 49.05% of the issued and outstanding ordinary shares as of the record date, were present or
          represented by proxy at the Meeting.</font></div>
      <div style="text-align: justify; line-height: 1.25;"><font style="background-color: #FFFFFF;"> <br>
        </font></div>
      <div style="text-align: justify; line-height: 1.25;">With Respect to Proposal 5, at<font style="background-color: #FFFFFF;"> the Meeting it was clarified</font> that subject to the shareholders&#8217; approval, and in accordance with and subject to the
        terms of the Compensation Policy as approved at the Meeting (the &#8220;<font style="font-weight: bold;">Amended Compensation Policy</font>&#8221;), that: (i) the monthly salary of our CEO, Mr. Doron Gerstel, shall be adjusted to NIS 120,000, effective April
        12, 2020 as outlined in the Proxy Statement; (ii) the target annual cash bonus of Mr. Gerstel will be 100% of Mr. Gerstel&#8217;s annual base salary and the maximum annual cash bonus including for overachievement performance will be 150% of Mr. Gerstel&#8217;s
        annual base salary for any given calendar year; and (iii) the compensation committee and the board of directors of the Company (the &#8220;<font style="font-weight: bold;">Compensation Committee</font>&#8221; and the &#8220;<font style="font-weight: bold;">Board</font>,&#8221;

        respectively) are authorized to grant Mr. Gerstel, from time to time, a special bonus in accordance with and subject to the terms of the Amended Compensation Policy. The terms of employment of Mr. Gerstel, as proposed to be amended, are consistent
        with the Amended Compensation Policy.</div>
      <div style="background-color: #FFFFFF; line-height: 1.25;">
        <div style="line-height: 1.25;"><br style="line-height: 1.25;">
        </div>
      </div>
      <div style="text-align: justify; line-height: 1.25;">All other employment terms will remain unchanged.&#160;For further information on the compensation terms of Mr. Gerstel, please see the Company&#8217;s annual report on Form 20-F for the year ended December
        31, 2018.</div>
      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
      </div>
      <div style="text-align: justify; line-height: 1.25;">In light of clarifications approved by the Compensation Committee and the Board, at the Meeting, it was resolved to adjourn the vote on Proposal 5, in accordance with Section 74 of the Companies
        Law to the following week at the same day, time and place.</div>
      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
      </div>
      <div style="text-align: justify; line-height: 1.25;">Accordingly, solely for Proposal 5, the shareholders of record at the close of business on December 31, 2019 can further vote, change their vote or withdraw their vote, following the procedures as
        further described in the Proxy Statement, until no later than the close of business on February 12, 2020, or in person at the meeting, that will be held at the offices of the Company located at 1 Azrieli Center, Building A, 4th Floor, 26 HaRokmim
        Street, Holon, Israel 5885849 on Thursday, February 13, 2020, at 4:00 p.m. (Israel time), or at any adjournment thereof.<font style="background-color: #FFFFFF;">&#160;</font></div>
      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
      </div>
      <div style="text-align: justify; line-height: 1.25;"><font style="background-color: #FFFFFF;">This Report on Form 6-K is incorporated by reference into the Registrant&#8217;s registration statements on Form S-8 (File Nos. 333-208278, 333-203641,
          333-193145, 333-192376, 333-188714, 333-171781, 333-152010, 333-133968 and 333-216494).</font></div>
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      <div style="text-align: center; line-height: 1.25; font-weight: bold;">Signature</div>
      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
      </div>
      <div style="text-align: justify; line-height: 1.25;">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, thereunto duly authorized.</div>
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      <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="z6874838191c04e5f9cefc5995d89e6e2">

          <tr>
            <td style="width: 50%; vertical-align: top;">&#160;</td>
            <td colspan="2" style="vertical-align: top;">
              <div style="line-height: 1.25;">PERION NETWORK LTD.</div>
            </td>
            <td style="width: 23%; vertical-align: top;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 50%; vertical-align: top;">&#160;</td>
            <td style="width: 4%; vertical-align: top;">&#160;</td>
            <td style="width: 23%; vertical-align: top;">&#160;</td>
            <td style="width: 23%; vertical-align: top;">&#160;</td>
          </tr>
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            <td style="width: 50%; vertical-align: top;">&#160;</td>
            <td style="width: 4%; vertical-align: top;">
              <div style="line-height: 1.25;">By:</div>
            </td>
            <td style="width: 23%; vertical-align: top; border-bottom: 2px solid black;">
              <div style="line-height: 1.25;">/s/ <font style="font-style: italic;">Maoz Sigron</font></div>
            </td>
            <td style="width: 23%; vertical-align: top;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 50%; vertical-align: top;">&#160;</td>
            <td style="width: 4%; vertical-align: top;">
              <div style="line-height: 1.25;">Name:</div>
            </td>
            <td style="width: 23%; vertical-align: top;">
              <div style="line-height: 1.25;"><font style="background-color: #FFFFFF;">Maoz Sigron</font></div>
            </td>
            <td style="width: 23%; vertical-align: top;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 50%; vertical-align: top;">&#160;</td>
            <td style="width: 4%; vertical-align: top;">
              <div style="line-height: 1.25;">Title:</div>
            </td>
            <td style="width: 23%; vertical-align: top;">
              <div style="line-height: 1.25;">Chief Financial Officer</div>
            </td>
            <td style="width: 23%; vertical-align: top;">&#160;</td>
          </tr>

      </table>
      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
      </div>
      <div style="line-height: 1.25;">Date: February 6, 2020</div>
    </div>
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