<SEC-DOCUMENT>0001513162-16-001035.txt : 20161021
<SEC-HEADER>0001513162-16-001035.hdr.sgml : 20161021
<ACCEPTANCE-DATETIME>20161021160628
ACCESSION NUMBER:		0001513162-16-001035
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20161017
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
FILED AS OF DATE:		20161021
DATE AS OF CHANGE:		20161021

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ITUS Corp
		CENTRAL INDEX KEY:			0000715446
		STANDARD INDUSTRIAL CLASSIFICATION:	PATENT OWNERS & LESSORS [6794]
		IRS NUMBER:				112622630
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1031

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-37492
		FILM NUMBER:		161946364

	BUSINESS ADDRESS:	
		STREET 1:		12100 WILSHIRE BOULEVARD
		CITY:			LOS ANGELES
		STATE:			CA
		ZIP:			90025
		BUSINESS PHONE:		31044845200

	MAIL ADDRESS:	
		STREET 1:		12100 WILSHIRE BOULEVARD
		CITY:			LOS ANGELES
		STATE:			CA
		ZIP:			90025

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	COPYTELE INC
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>form8k.htm
<DESCRIPTION>FORM 8-K
<TEXT>
<HTML>
<head><title>Form 8-K</title> </head> <body style="FONT-SIZE:10pt; FONT-FAMILY:'Times New Roman'; COLOR:#000000; MARGIN-TOP:0px"> <p style=MARGIN:0px><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center><b>UNITED STATES</b></p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center><b>SECURITIES AND EXCHANGE COMMISSION</b></p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center><b>Washington, D.C. 20549</b></p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center><b><u>&nbsp;&nbsp;&nbsp;</u></b></p> <p style=MARGIN:0px align=center><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center><b>FORM 8-K</b></p> <p style=MARGIN:0px align=center><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center><b>CURRENT REPORT</b></p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center><b>Pursuant to Section 13 or Section 15(d) of the Securities Exchange Act of 1934</b></p> <p style=MARGIN:0px><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>Date of Report (Date of earliest event reported): &nbsp;October 17, 2016</p> <p style=MARGIN:0px align=center><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center><b><u>ITUS CORPORATION</u></b></p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>(Exact name of registrant as specified in its charter)</p> <p style=MARGIN:0px align=center><br></p> <table bordercolor=transparent style="FONT-SIZE:10pt; MARGIN-TOP:0px" cellpadding=0 cellspacing=0 align=center> <tr style=FONT-SIZE:0px> <td width=194> <td width=174> <td width=169 /> </tr><tr> <td width=194 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=top> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center><b>Delaware</b></p></td> <td width=174 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=top> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center><b>000-11254</b></p></td> <td width=169 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=top> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center><b>11-2622630</b></p></td></tr> <tr> <td width=194 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=top> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>(State or other jurisdiction<br>of incorporation)</p></td> <td width=174 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=top> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>(Commission<br>File Number)</p></td> <td width=169 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=top> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>(IRS Employer</p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>Identification No.)</p></td></tr></table> <p style=MARGIN:0px><br></p> <p style=MARGIN:0px><br></p> <table bordercolor=transparent style="FONT-SIZE:10pt; MARGIN-TOP:0px" cellpadding=0 cellspacing=0 align=center> <tr style=FONT-SIZE:0px> <td width=349> <td width=337 /> </tr><tr> <td width=349 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center><b>12100 Wilshire Boulevard, Suite 1275</b></p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center><b>Los Angeles, CA</b></p></td> <td width=337 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center><b>90025</b></p></td></tr> <tr> <td width=349 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px"> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>(Address of principal executive offices)</p></td> <td width=337 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px"> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>(Zip Code)</p></td></tr></table> <p style=MARGIN:0px><br></p> <p style=MARGIN:0px><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>Registrant<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#146;</font>s telephone number, including area code: &nbsp;<b>(310) 484-5200</b></p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:336px">&nbsp;&nbsp;</p> <p style=MARGIN:0px align=center><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>(Former name or former address, if changed since last report)</p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center><b><u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;</u></b></p> <p style=MARGIN:0px align=center><br></p> <p style="MARGIN-BOTTOM:6px; FONT-SIZE:11pt; MARGIN-TOP:6px" align=justify>Check the appropriate box below if the Form&nbsp;8-K filing is intended to simultaneously satisfy the filing obligation to the registrant under any of the following provisions: </p> <p style="MARGIN-BOTTOM:6px; FONT-SIZE:11pt; PADDING-LEFT:0px; MARGIN-LEFT:0px; MARGIN-TOP:6px"><font face=Wingdings>o</font>&nbsp;&nbsp;&nbsp; Written communications pursuant to Rule&nbsp;425 under the Securities Act (17&nbsp;CFR&nbsp;230.425)</p> <p style="MARGIN-BOTTOM:6px; FONT-SIZE:11pt; PADDING-LEFT:0px; MARGIN-LEFT:0px; MARGIN-TOP:6px"><font face=Wingdings>o </font>Soliciting material pursuant to Rule&nbsp;14a-12 under the Exchange Act (17&nbsp;CFR&nbsp;240.14a-12)</p> <p style="MARGIN-BOTTOM:6px; FONT-SIZE:11pt; PADDING-LEFT:0px; MARGIN-LEFT:0px; MARGIN-TOP:6px"><font face=Wingdings>o </font>Pre-commencement communications pursuant to Rule&nbsp;14d-2(b) under the Exchange Act (17&nbsp;CFR&nbsp;240.14d-2(b))</p> <p style="MARGIN-BOTTOM:6px; FONT-SIZE:11pt; PADDING-LEFT:0px; MARGIN-LEFT:0px; MARGIN-TOP:6px"><font face=Wingdings>o </font>Pre-commencement communications pursuant to Rule&nbsp;13e-4(c) under the Exchange Act (17&nbsp;CFR&nbsp;240.13e-4(c))</p> <p style=MARGIN:6px><br></p> <p style=MARGIN:0px><br><br></p> <p style=MARGIN:0px><br></p> <hr size=1 noshade style="MARGIN-BOTTOM:9px; PADDING-TOP:9px"> <p style="PAGE-BREAK-BEFORE:always; MARGIN:0px"><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px"><font style=BACKGROUND-COLOR:#ffffff><b>Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory</font><font style=BACKGROUND-COLOR:#ffffff> </font><font style=BACKGROUND-COLOR:#ffffff>Arrangements of Certain Officers.</b></font></p> <p style="FONT-SIZE:11pt; MARGIN:0px">&nbsp;</p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style=BACKGROUND-COLOR:#ffffff>On October 17, 2016, ITUS Corporation (the <font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#147;</font>Company<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#148;</font>) appointed Mike </font><font style=BACKGROUND-COLOR:#ffffff>Catelani</font><font style=BACKGROUND-COLOR:#ffffff> as Chief Financial Officer of the Company</font><font style=BACKGROUND-COLOR:#ffffff> effective </font><font style=BACKGROUND-COLOR:#ffffff>as of</font><font style=BACKGROUND-COLOR:#ffffff> November 1, 2016</font><font style=BACKGROUND-COLOR:#ffffff>. &nbsp;</font></p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>Mr. Catelani, age&nbsp;49, is a seasoned executive with over 25 years of experience in finance, auditing, and operations. Previously, Mr. Catelani co-founded Tacere Therapeutics, Inc., a privately held biotechnology company, and served as its Chairman, President and Chief Financial Officer until its sale. Prior to Tacere, Mr. Catelani served on the Board of Directors and was the Chief Financial Officer of Benitec Biopharma Limited, an Australian Stock Exchange-listed biotechnology company. Prior to Benitec, Mr. Catelani served as Vice President and Chief Financial Officer at Axon Instruments, a U.S. corporation publicly traded on the Australian Stock Exchange that is a leading designer and manufacturer of instrumentation and software systems for biotechnology and diagnostics research. Prior to Axom, Mr. Catelani served as the Vice President of Finance for Media Arts Group, Inc., an NYSE-listed company. Mr. Catelani has also worked with several early stage start-up companies in a variety of industries, including biotechnology, retail, waste water recovery, and distributed power generation, in both advisory and management roles and has served as a contract Chief Financial Officer to a number of established businesses in the biotechnology field. Mr. Catelani began his professional career at Ernst &amp; Young and is a CPA. He received his B.S. degree in business administration, with a concentration in accountancy, from Sacramento State University and earned his MBA from the University of California, Davis.</p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>In connection with Mr. Catelani<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#146;</font>s appointment as Chief Financial Officer he will receive an annual base salary of $150,000 per year. The Company will also grant Mr. Catelani options to purchase an aggregate of 50,000 shares of the Company<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#146;</font>s common stock with an exercise price to be determined based upon the closing sales price of our common stock on the trading day of the approval of such options by the Company<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#146;</font>s Compensation Committee. The options will vest over a three year period, with one third of the options vesting on the first anniversary of Mr. Catelani<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#146;</font>s employment and the remaining two thirds of the options vesting quarterly over the remaining two year period. The options otherwise have the same terms and conditions as options granted under the Company<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#146;</font>s 2010 Share Incentive Plan. &nbsp;The full text of the 2010 Share Incentive Plan is filed as Exhibit 10.1 to the Company<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#146;</font>s Current Report on Form 8-K, filed on July 20, 2010.</p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>Mr. Catelani has not been involved in any transaction with the Company that would require disclosure under Item 404(a) of the Regulation S-K. There is no family relationship between Mr. Catelani and any other director, executive officer, or person nominated or chosen by the Company to become a director or executive officer of the Company.</p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=justify>&nbsp;</p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style=BACKGROUND-COLOR:#ffffff>Mr. </font><font style=BACKGROUND-COLOR:#ffffff>Catelani</font><font style=BACKGROUND-COLOR:#ffffff> will be replacing Henry Herms, the current </font><font style=BACKGROUND-COLOR:#ffffff>Vice President <font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#150;</font> Finance and Chief Financial Officer</font><font style=BACKGROUND-COLOR:#ffffff>, who will retire on December 31, 2016.</font><font style=BACKGROUND-COLOR:#ffffff> Mr. Herms will step down as Vice President <font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#150;</font> Finance and Chief Financial Officer on November 1, 2016.</font></p> <p style="MARGIN-BOTTOM:9px; MARGIN-TOP:0px"><br></p> <p style=MARGIN:0px align=center><br><br></p> <p style="FONT-SIZE:8pt; MARGIN:0px">&nbsp;</p> <hr size=1 noshade style="MARGIN-BOTTOM:9px; PADDING-TOP:9px"> <p style="PAGE-BREAK-BEFORE:always; MARGIN:0px"><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center><b>SIGNATURES</b></p> <p style=MARGIN:0px><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px">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. </p> <p style=MARGIN:0px><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px">Dated: October 21, 2016</p> <p style=MARGIN:0px><br></p> <p style="FONT-SIZE:11pt; PADDING-LEFT:336px; MARGIN:0px">ITUS CORPORATION</p> <p style=MARGIN:0px><br></p> <p style="FONT-SIZE:11pt; PADDING-LEFT:336px; MARGIN:0px">By<u>:/s/ Robert A. Berman</u></p> <p style="FONT-SIZE:11pt; PADDING-LEFT:336px; MARGIN:0px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Name: Robert A. Berman</p> <p style="FONT-SIZE:11pt; PADDING-LEFT:336px; MARGIN:0px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Title: President and Chief Executive Officer</p> <p style=MARGIN:0px><br></p> <p style="MARGIN-BOTTOM:10px; MARGIN-TOP:0px"><br></p> <p style="MARGIN-BOTTOM:10px; MARGIN-TOP:0px"><br><br></p> <p style="FONT-SIZE:8pt; MARGIN:0px">&nbsp;</p></body>
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