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): September 19, 2007
AKEENA
SOLAR, INC.
(Exact
name of registrant as specified in its charter)
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DELAWARE
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000-52385
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20-5132054
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(State
or other jurisdiction of incorporation)
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(Commission
File Number)
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(I.R.S.
Employer Identification No.)
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16005
LOS GATOS BOULEVARD
LOS
GATOS, CALIFORNIA
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95032
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(Address
of principal executive offices)
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(Zip
Code)
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Registrant's
telephone number, including area code: (408) 395-7774
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):
o
o
Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o
o
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o
o
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
o
o
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.
(b)
Resignation of Chief Financial Officer.
David
“Lad” Wallace, the Chief Financial Officer of Akeena Solar, Inc. (“Akeena” or
the “Company”) will resign from the Company effective
September 30, 2007. In connection with the resignation, Mr. Wallace and the
Company have entered into a Severance Agreement dated September 19, 2007. Under
the Severance Agreement, the vesting is accelerated to September 21, 2007 for
the 50,000 shares of Akeena restricted stock previously granted to Mr. Wallace,
and he has received a further grant of 25,000 shares of Akeena restricted stock
that is fully vested on September 21, 2007. The Severance Agreement also
provides that Mr. Wallace will receive a lump sum payment equal to $108,750.00
less withholding on the separation date.
(c)
Barry
Cinnamon, the Company’s Chief Executive Officer, President, Secretary and
Treasurer, will also serve as Chief Financial Officer of the Company beginning
on October 1, 2007, for the interim period following Mr. Wallace’s departure.
Information regarding Mr. Cinnamon’s background is incorporated by reference to
the information under the caption “Directors and Executive Officers” in the
Company’s proxy statement on Schedule 14A, filed with the SEC on August 3, 2007
(the “Proxy Statement”). Information regarding Mr. Cinnamon’s compensation
can be found in the Proxy Statement and in the Company’s current report on Form
8-K filed with the SEC on September 14, 2007.
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 thereunto
duly authorized.
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Akeena
Solar, Inc.
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By:
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/s/ Barry
Cinnamon
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Name:
Barry Cinnamon
Title:
Chief Executive Officer
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Dated
September 21, 2007