Form 8-K

 

 

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 (Date of earliest event reported): November 15, 2012

 

 

CISCO SYSTEMS, INC.

(Exact name of registrant as specified in its charter)

 

 

California

(State or other jurisdiction of incorporation)

 

0-18225   77-0059951
(Commission File Number)   (IRS Employer Identification No.)
170 West Tasman Drive, San Jose, California   95134-1706
(Address of principal executive offices)   (Zip Code)

(408) 526-4000

(Registrant’s telephone number, including area code)

Not Applicable

(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 registrant 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 Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

Amendment and Restatement of the Executive Incentive Plan

At the Annual Meeting of Shareholders (the “Meeting”) of Cisco Systems, Inc. (“Cisco”) held on November 15, 2012, Cisco’s shareholders approved the amendment and restatement of the Cisco Executive Incentive Plan (the “EIP”). Under Section 162(m) of the Internal Revenue Code of 1986, as amended (“Section 162(m)”), shareholders must approve the material terms of the EIP at least every five years. The amendment and restatement of the EIP was approved by the Compensation & Management Development Committee of Cisco’s Board of Directors on August 1, 2012, subject to the approval of Cisco’s shareholders in accordance with Section 162(m). The amendment and restatement of the EIP became effective commencing with fiscal 2013 with such shareholder approval on November 15, 2012.

The EIP is an incentive compensation plan which motivates and rewards eligible employees, including each of Cisco’s named executive officers, by making a portion of such eligible employees’ cash compensation dependent on the achievement of certain objective performance goals related to the performance of Cisco and its affiliates. Previously, the EIP was approved by shareholders at the 2007 annual meeting. As a result of the approval by shareholders at the Meeting, the amended and restated EIP is substantially the same as the version approved by shareholders in 2007 with the exception of three new performance conditions (operating cash flow, operating expenses and total shareholder return).

A more complete description of the terms of the amended and restated EIP can be found in “Proposal No. 2—Approval of the Amendment and Restatement of the Executive Incentive Plan” (pages 19 through 21) in Cisco’s definitive proxy statement dated September 24, 2012, and filed with the Securities and Exchange Commission on September 26, 2012, which description is incorporated by reference herein. The foregoing descriptions and the description incorporated by reference from Cisco’s definitive proxy statement are qualified in their entirety by reference to the EIP, a copy of which is filed as Exhibit 10.1 to this report.

Item 5.07. Submission of Matters to a Vote of Security Holders.

The Annual Meeting of Shareholders of Cisco was held on November 15, 2012. At the Meeting, the shareholders voted on the following six proposals and cast their votes as follows:

 

Proposal 1: To elect thirteen members of Cisco’s Board of Directors:

 

Nominee

    For      Against      Abstained      Broker Non-Votes  

Carol A. Bartz

      3,277,764,145         59,840,899         13,193,149         893,019,476   

Marc Benioff

      3,305,989,751         34,961,193         9,847,249         893,019,476   

M. Michele Burns

      3,313,358,876         24,333,878         13,105,439         893,019,476   

Michael D. Capellas

      3,280,137,834         60,896,122         9,764,237         893,019,476   

Larry R. Carter

      3,277,352,021         63,572,354         9,873,818         893,019,476   

John T. Chambers

      3,195,990,061         143,576,998         11,231,134         893,019,476   

Brian L. Halla

      3,304,498,374         36,438,139         9,861,680         893,019,476   

Dr. John L. Hennessy

      2,885,823,384         455,143,531         9,831,278         893,019,476   

Dr. Kristina M. Johnson

      3,301,977,932         39,106,922         9,713,339         893,019,476   

Richard M. Kovacevich

      3,312,526,021         24,862,841         13,409,331         893,019,476   

Roderick C. McGeary

      3,300,413,117         36,985,322         13,399,754         893,019,476   

Arun Sarin

      3,316,803,451         24,082,419         9,912,323         893,019,476   

Steven M. West

      3,259,865,324         80,993,041         9,939,828         893,019,476   

Proposal 2: To approve the amendment and restatement of the Cisco Executive Incentive Plan:

 

For

   

Against

   

Abstained

   

Broker Non-Votes

3,204,714,452

    131,636,560    14,447,181    893,019,476

 

Proposal 3: To approve, on an advisory basis, executive compensation:

 

For

   

Against

   

Abstained

   

Broker Non-Votes

3,204,507,495

    128,592,006    17,698,692    893,019,476

 

Proposal 4: To ratify the appointment of PricewaterhouseCoopers LLP as Cisco’s independent registered public accounting firm for the fiscal year ending July 27, 2013:

 

For

   

Against

   

Abstained

   

Broker Non-Votes

4,158,346,364

    70,650,655    14,820,650    0

 

Proposal 5: A shareholder proposal to have Cisco’s Board of Directors adopt a policy to have an independent Board chairman whenever possible:

 

For

   

Against

   

Abstained

   

Broker Non-Votes

926,622,851

    2,409,480,871    14,694,471    893,019,476

 

Proposal 6: A shareholder proposal requesting that Cisco management prepare a report on “conflict minerals” in Cisco’s supply chain:

 

For

   

Against

   

Abstained

   

Broker Non-Votes

247,320,138

    2,864,005,812    239,472,243    893,019,476

Item 9.01. Financial Statement and Exhibits.

 

(d) Exhibits

 

Exhibit No.

   

Description of Document

10.1    Cisco Systems, Inc. Executive Incentive Plan

SIGNATURES

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.

 

            CISCO SYSTEMS, INC.
Dated: November 16, 2012     By:  

/s/ Evan Sloves

    Name:   Evan Sloves
    Title:   Assistant Secretary

EXHIBIT INDEX

 

Exhibit Number

   

Description of Document

10.1    Cisco Systems, Inc. Executive Incentive Plan