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CVD EQUIPMENT CORP FILES (8-K) Disclosing Change in Directors or Principal Officers(Edgar Glimpses Via Acquire Media NewsEdge) Item 5.02 Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers Effective October 20, 2014, the Board of Directors of CVD Equipment Corp. (the "Company") appointed Dr. Steven Aragon, 53 as Chief Operating Officer of the Company. Dr. Aragon has over 25 years of thin-film process, materials, and system expertise applied to photovoltaic, optical, electronic, and magnetic device fabrication. He received his Ph.D. in Physical Chemistry from the University of California, Santa Cruz, in 1990 and his MBA from Santa Clara University in 1996. Dr. Aragon is the holder of five process equipment design patents. He was a co-founder of Optimus Energy Systems International Inc. and served as its Chief Technical Officer & Senior-Vice President - Engineering from November 2011 to October 2014. From June 2008 to October 2011, Dr. Aragon served as Vice President - Engineering at Stion Corp of San Jose, CA, a maker of nanostructure-based CIGSS (copper indium gallium sulphur-diselenide) thin-film photovoltaic panels. Dr. Aragon also served as the Vice President- Engineering at Day Star Technologies Inc. from June 2001 to June 2008. There are no family relationships between Dr. Aragon and any executive officer or director of the Company or any person nominated to become an executive officer or director. Dr. Aragon will receive a base salary which is payable at the rate of $175,000 per year. In addition, he has been granted options to purchase 100,000 shares of the Company's common stock at a price per share equal to the closing price of a share of the Company's common stock on the business date prior to the commencement of his employment. The options vest in five equal annual installments beginning October 20, 2015, provided that Dr. Aragon is still employed by the Company. In addition, commencing on October 20, 2015, and on each anniversary thereafter, (provided that he is still employed by the Company), Dr. Aragon shall be entitled to receive shares of the Company's restricted common stock valued at $25,000 based upon the CVD share price on the business day prior. There are no other arrangements or understandings between Dr. Aragon and any other person pursuant to which Dr. Aragon was appointed as Chief Operating Officer of the Company. Dr. Aragon has not entered into any transactions with the Company that are required to be disclosed pursuant to Item 404(a) of Regulation S-K. |