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UNITED STATES
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: February 12, 2007
Simtek Corporation
(Exact Name of Registrant as Specified in Charter)
Delaware 0-19027 84-1057605
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification #)
4250 Buckingham Dr. #100, Colorado Springs, CO 80907
(Address of Principal Executive Office)
(719) 531-9444
(Registrant's telephone number, including area code)
[ ] 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))
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Item 5.02: Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of
Certain Officers.
Executive Bonuses
On February 12, 2007, in accordance with the 2006 Executive Incentive
Compensation Plan previously approved by the Board of Directors, Simtek
Corporation (the "Company") issued cash performance bonuses for the calendar
year ending December 31, 2006 to the executive officers of the Company. The
Compensation Committee of the Board of Directors approved these bonuses. The
Company's Executive Incentive Compensation Plan contemplates performance of the
officers and the Company relating to the Company's financial and operating
results, cash balances, progress on key engineering metrics, and other strategic
matters. The 2006 cash performance bonuses for the Company's executive officers
were as follows: (a) Harold Blomquist, Chairman, Chief Executive Officer and
President: $261,383; and (b) Brian Alleman, Vice President and Chief Financial
Officer, Corporate Secretary: $135,449.
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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.
SIMTEK CORPORATION
By: /s/Brian Alleman
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Brian Alleman, Chief Financial Officer
February 13, 2007
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