8-KOther EventsExhibits & Filings

MICRON TECHNOLOGY INC 8-K Report, Corporate Update (Nov 20, 2007)

Filed November 20, 2007For Securities:MU

Summary

This 8-K filing from Micron Technology, Inc. (MU) on November 20, 2007, primarily concerns an amendment to the company's proposed 2007 Equity Incentive Plan (the "2007 Plan"). The Compensation Committee approved a modification to delete a specific subsection within Section 5.2 of the plan. This deleted language clarified that only shares actually issued upon exercise of an option or stock appreciation right would count towards the total shares available for issuance under the plan. The amended 2007 Plan is scheduled for shareholder approval at the Annual Meeting on December 4, 2007. The plan will only become effective if shareholders grant their approval. This amendment appears to be a technical adjustment aimed at clarifying the share pool management for equity awards.

Key Highlights

  • 1Micron Technology amended its proposed 2007 Equity Incentive Plan.
  • 2The amendment involves deleting a subsection of Section 5.2 related to share reissuance.
  • 3The deleted language clarified the counting of shares for option or SAR exercises (e.g., net settlements).
  • 4The amended 2007 Plan requires shareholder approval.
  • 5Shareholder approval is scheduled for the Annual Meeting on December 4, 2007.
  • 6The 2007 Plan will become effective only upon shareholder ratification.

Frequently Asked Questions

The main purpose of this 8-K filing is to report an amendment made by Micron Technology's Compensation Committee to its proposed 2007 Equity Incentive Plan. This amendment clarifies how shares are accounted for when options or stock appreciation rights are exercised.

A subsection of Section 5.2 was deleted. This subsection previously stated that only shares actually issued upon the exercise of an option or stock appreciation right would be counted towards the total number of shares available for issuance under the plan.

The 2007 Equity Incentive Plan will become effective only after it is approved by the company's shareholders. The shareholder vote is scheduled to take place at the 2007 Annual Meeting on December 4, 2007.

No, this filing (Item 8.01 - Other Events) solely pertains to an amendment of the company's equity incentive plan and the process for its shareholder approval. It does not disclose any financial statements or report on other material business events.