SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): March 16, 2005
ACTIVE POWER, INC.
(Exact Name of Registrant as Specified in Its Charter)
000-30939
(Commission File Number)
| Delaware | 74-2961657 | |
| (State of Other Jurisdiction of Incorporation) | (IRS Employer Identification No.) |
| 2128 W. Braker Lane, BK12, Austin, Texas | 78758 | |
| (Address of Principal Executive Offices) | (Zip Code) |
(512) 836-6464
(Registrant’s Telephone Number, Including Area Code)
N/A
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registration under any of the following provisions (see General Instruction A.2. below):
| ¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Item 5.02. Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers.
(d) On March 16, 2005 Active Power, Inc. elected Brad Boston to its Board of Directors. Mr. Boston will serve as a Class III director with a term which will expire at Active Power’s 2006 Annual Meeting of Stockholders.
Mr. Boston has served as Senior Vice President and CIO of Cisco Systems, Inc. since August 2001. From June 2000 to July 2001, Mr. Boston served as the Executive Vice President of Operations at Corio, an enterprise-focused Internet application service provider. Prior to joining Corio, Mr. Boston was Executive Vice President of product development and delivery at the Sabre Group. He also held executive positions at American Express, Visa, United Airlines/Covia and at American National Bank and Trust Company of Chicago. Mr. Boston serves on the Board of Directors of Mercury Interactive Corporation as well as one private company. Mr. Boston also serves on the Harvard Group Board of Advisors and on the E-business Advisory Board for Texas Christian University M.J. Neeley School of Business. Mr. Boston holds a B.S. in Computer Science from University of Illinois.
Item 9.01. Exhibits and Financial Statements.
| (c) | Exhibits |
Exhibit 99.1 Press Release dated March 18, 2005
2
SIGNATURE
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.
| ACTIVE POWER, INC. | ||||
| Dated: March 21, 2005 | By: | /s/ Joseph F. Pinkerton III | ||
| Joseph F. Pinkerton III Chairman of the Board, President and Chief Executive Officer | ||||
Exhibit 99.1
Active Power Elects Cisco Senior VP and CIO Brad Boston to Its Board
Austin, Texas (March 18, 2005) — Active Power, Inc. (NASDAQ: ACPW) today announced the election of Brad Boston, Senior Vice President and CIO of Cisco Systems, Inc., to its board of directors effective March 16, 2005.
“I look forward to working with Active Power’s board,” said Brad Boston. “I’m quite familiar with the drawbacks of using batteries in high-end data centers and think this small company is focused on solving the right problem with its new technology.”
“We are pleased to have Brad join our board,” said Joe Pinkerton, Chairman and CEO of Active Power. “Brad brings a tremendous amount of knowledge and experience in the data center market where a large fraction of backup power products are sold. We think Brad will provide Active Power with invaluable guidance as we begin selling our new extended runtime product into this market.”
Before joining Cisco in August of 2001, Boston was the Executive Vice President of Operations at Corio, an enterprise-focused Internet application service provider. Prior to Corio, Boston was Executive Vice President of product development and delivery at the Sabre Group (NYSE:TSG) in Dallas, Texas. While at Sabre, Boston strengthened the executive team in preparation for their spinout from American Airlines (AMR), the historic transaction that created a leading IT firm. He also held executive positions at American Express, Visa, United Airlines/Covia and at American National Bank and Trust Company of Chicago, where he began his career.
Boston holds a B.S. in Computer Science from University of Illinois, College of Engineering, Champaign-Urbana, Illinois.
Boston has been appointed by the board as a Class III director and will stand for election at the company’s 2006 annual meeting.
About Active Power:
Active Power, Inc. (www.activepower.com) designs, manufactures and markets battery-free power quality products that provide the consistent, reliable electric power required by today’s digital economy. An ISO 9001-registered company, Active Power is the first to commercialize a flywheel energy storage system that provides a highly reliable, low-cost and non-toxic replacement for lead-acid batteries used in conventional power quality installations.
Cautionary Note Regarding Forward-Looking Statements:
This release may contain forward-looking statements that involve risks and uncertainties. Any forward looking statements and all other statements that may be made in this news release that are not historical facts are subject to a number of risks and uncertainties, and actual results may differ materially. Please refer to Active Power filings with the Securities and Exchange Commission for more information on the risk factors that could cause actual results to differ.
Active Power and our Active Power logo are registered trademarks of Active Power, Inc. All other trademarks are the properties of their respective companies.
Active Power Contacts:
Michael Chibib, Investors, 512.744.9453, mchibib@activepower.com
Derek Jones, Corporate Communications, 512.744.9210, djones@activepower.com