<SEC-DOCUMENT>0000356037-14-000026.txt : 20141124
<SEC-HEADER>0000356037-14-000026.hdr.sgml : 20141124
<ACCEPTANCE-DATETIME>20141124145719
ACCESSION NUMBER:		0000356037-14-000026
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20141118
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
FILED AS OF DATE:		20141124
DATE AS OF CHANGE:		20141124

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CSP INC /MA/
		CENTRAL INDEX KEY:			0000356037
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-COMPUTER INTEGRATED SYSTEMS DESIGN [7373]
		IRS NUMBER:				042441294
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			1219

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-10843
		FILM NUMBER:		141246089

	BUSINESS ADDRESS:	
		STREET 1:		43 MANNING ROAD
		CITY:			BILLERICA
		STATE:			MA
		ZIP:			01821
		BUSINESS PHONE:		9786637598

	MAIL ADDRESS:	
		STREET 1:		43 MANNING ROAD
		CITY:			BILLERICA
		STATE:			MA
		ZIP:			01821
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>form8-k_item502johnleydonf.htm
<DESCRIPTION>8-K
<TEXT>
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		<title>Form8-K_item502JohnLeydonFINAL</title>
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<a name="s5DBFEDC6CD4571C71211E34635BF58D8"></a><div></div><br><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">UNITED STATES <br>SECURITIES AND EXCHANGE COMMISSION</font><font style="font-family:inherit;font-size:10pt;">&#32;<br></font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Washington, D.C. 20549</font></div><div style="line-height:120%;padding-top:13px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">FORM 8-K</font></div><div style="line-height:120%;padding-top:13px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">CURRENT REPORT <br>Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934</font></div><div style="line-height:120%;padding-top:13px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Date of Report (Date of earliest event reported):&#160; November 18, 2014</font></div><div style="line-height:120%;padding-top:13px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">CSP Inc.</font><font style="font-family:inherit;font-size:10pt;">&#32;<br> </font><font style="font-family:inherit;font-size:12pt;">(Exact Name of Registrant as Specified in its Charter)</font></div><div style="line-height:100%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;font-size:12pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="3"></td></tr><tr><td width="35%"></td><td width="30%"></td><td width="35%"></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Massachusetts</font><font style="font-family:inherit;font-size:10pt;">&#160;</font><font style="font-family:inherit;font-size:12pt;">&#160;<br>(State or Other Jurisdiction of Incorporation)</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">000-10843</font></div><div style="text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(Commission File Number)</font></div><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">04-2441294</font></div><div style="text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(IRS Employer</font><font style="font-family:inherit;font-size:10pt;">&#160;<br></font><font style="font-family:inherit;font-size:12pt;">Identification Number)</font></div></td></tr><tr><td colspan="3" style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">43 Manning Road</font><font style="font-family:inherit;font-size:10pt;">&#160;<br></font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Billerica, Massachusetts 01821</font><font style="font-family:inherit;font-size:10pt;">&#160;</font><font style="font-family:inherit;font-size:12pt;">&#160;<br>(Address of Principal Executive Offices) (Zip Code)</font></div></td></tr><tr><td colspan="3" style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div><div style="text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Registrant&#8217;s telephone number, including area code:</font><font style="font-family:inherit;font-size:10pt;">&#160;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">(978) 663-7598</font></div></td></tr><tr><td colspan="3" style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div><div style="text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Not Applicable</font></div><div style="text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(Former Name or Former Address, if Changed Since Last Report)</font></div></td></tr></table></div></div><div style="line-height:120%;text-align:left;text-indent:22px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div><div style="line-height:120%;padding-top:8px;text-align:left;text-indent:22px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">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 (</font><font style="font-family:inherit;font-size:10pt;">see </font><font style="font-family:inherit;font-size:12pt;">General Instruction A.2. below):</font></div><div style="line-height:120%;padding-top:8px;text-align:left;text-indent:22px;font-size:12pt;"><font style="font-family:Wingdings;font-size:12pt;">&#168;</font><font style="font-family:inherit;font-size:10pt;">&#32;</font><font style="font-family:inherit;font-size:12pt;">&#160;&#160; Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</font></div><div style="line-height:120%;padding-top:8px;text-align:left;text-indent:22px;font-size:12pt;"><font style="font-family:Wingdings;font-size:12pt;">&#168;</font><font style="font-family:inherit;font-size:10pt;">&#32;</font><font style="font-family:inherit;font-size:12pt;">&#160;&#160; Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</font></div><div style="line-height:120%;padding-top:8px;text-align:left;text-indent:22px;font-size:12pt;"><font style="font-family:Wingdings;font-size:12pt;">&#168;</font><font style="font-family:inherit;font-size:10pt;">&#32;</font><font style="font-family:inherit;font-size:12pt;">&#160;&#160; Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</font></div><div style="line-height:120%;padding-top:8px;text-align:left;text-indent:22px;font-size:12pt;"><font style="font-family:Wingdings;font-size:12pt;">&#168;</font><font style="font-family:inherit;font-size:10pt;">&#32;</font><font style="font-family:inherit;font-size:12pt;">&#160;&#160; Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</font></div><div style="line-height:120%;padding-top:8px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div><div style="line-height:100%;padding-top:12px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:100%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:138%;padding-bottom:13px;padding-top:12px;text-align:left;padding-left:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Item 5.02.&#160; Departure of Directors or Certain Officers: Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.</font></div><div style="line-height:120%;padding-bottom:13px;text-align:left;padding-left:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(b) and (c)&#160;&#160;&#160;&#160;On November 18, 2014, the Board of Directors appointed Mr. John M. Leydon Chief Accounting Officer and Vice President of Finance.&#160; Mr. Leydon mostly recently served for six months as the Vice President of Financial Planning and Accounting for Direct Capital Corporation, a high growth financial technology company specializing in financing solutions for small businesses.  Prior to that, he served from 2010 to 2013 as Director of Finance and Accounting for Beacon Roofing Supply, Inc., a $ 2 billion public company in distribution roofing and building products.  Mr. Leydon served as Senior Manager of Financial Reporting and Manager of Financial Reporting from 2006 to 2010 for Vicor Corporation, a $200 million public company that develops and manufacture power conversion components and systems.  He also served in other senior financial accounting positions for the prior seventeen years with NextQuarter LLC, Syratech Corp., Cerplex Inc. and International Paper Co.  Mr. Leydon is a Certified Public Accountant and he was employed as a tax specialist and auditor for Pricewaterhouse Coopers LLP and  Ernst &amp; Young LLP for three years.</font></div><div style="line-height:120%;padding-bottom:13px;text-align:left;padding-left:48px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Mr. Leydon will receive an annual base salary of $142,000 and he will participate in the non-equity executive compensation plan.  He will be awarded 5,000 shares of the Company&#8217;s restricted common stock that will vest in four annual installments beginning on the first anniversary of the award.</font></div><div style="line-height:120%;padding-bottom:13px;text-align:left;padding-left:48px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">There are no family relationships between Mr. Leydon and any director or officer of the Company, or any person chosen by the Company to become a director or executive officer.  There are no related party transactions of the kind described in Item 404(a) of Regulation S-K in which Mr. Leydon was a participant.  There is no material plan, contract or arrangement for Mr. Leydon of the type described in Item 5.02(c)(3) of Form 8-K.</font></div><div style="line-height:120%;padding-bottom:13px;text-align:left;padding-left:48px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Mr. Robert Stellato has resigned his position as Chief Accounting Officer and Vice President of Finance and will be available to assist in the transition until February 7, 2015.  He will be entitled to certain severance benefits in accordance the Company&#8217;s standard severance policy.  Mr. Stellato&#8217;s departure is not related to any disagreement with CSP Inc.  regarding any financial, accounting or other matters.</font></div><div style="line-height:120%;text-align:left;font-size:11.5pt;"><font style="font-family:inherit;font-size:11.5pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:192px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">SIGNATURES</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div><div style="line-height:120%;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">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 hereunto duly authorized.</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div><div style="line-height:120%;text-align:left;padding-left:288px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">CSP Inc.</font></div><div style="line-height:120%;text-align:left;padding-left:288px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div><div style="line-height:120%;text-align:left;padding-left:288px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div><div style="line-height:120%;text-align:left;padding-left:288px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">By:&#160;&#160;__</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">&#160;/s/ Gary W. Levine&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div><div style="line-height:120%;text-align:left;padding-left:288px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Name:&#160;&#160; Gary W. Levine</font></div><div style="line-height:120%;text-align:left;padding-left:288px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Title:&#160;&#160;&#160;&#160;  Secretary</font></div><div style="line-height:120%;text-align:left;padding-left:288px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Dated: November 24, 2014</font></div><br><div></div>	</body>
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