UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
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| Item 8.01 | Other Events. |
Effective March 11, 2021, Patrizio Vinciarelli, President, Chief Executive Officer and Chairman of the Board of Vicor Corporation (the “Company”), entered into a pre-arranged stock trading plan (the “10b5-1 Plan”) with a brokerage firm to sell a limited number of shares of the Company’s common stock, par value $0.01 per share (“Common Stock”).
Sales under the 10b5-1 Plan will begin no earlier than April 1, 2021. The 10b5-1 Plan allows for the sale of up to 10,000 shares of Common Stock for each incremental $1.00 increase in the market price of the Common Stock from $101 to $130 per share, subject to a total volume limitation of 300,000 shares.
Based on his current ownership of 10,014,454 shares of Common Stock and 11,023,648 shares of Vicor Corporation Class B Common Stock, if all of the 300,000 shares of Common Stock subject to the 10b5-1 Plan were sold, Mr. Vinciarelli’s beneficial ownership of Vicor Corporation’s capital stock would decrease by less than one percent of issued and outstanding shares of capital stock.
The 10b5-1 Plan was designed to comply with the Company’s insider trading policies and the guidelines specified in Rule 10b5-1 promulgated under the Securities Exchange Act of 1934, as amended, which permit an officer or director to enter into a pre-arranged plan for buying or selling Company stock at a time when the officer or director is not in possession of material, nonpublic information about the Company.
All sales of Common Stock under the 10b5-1 Plan will be disclosed publicly in accordance with applicable securities laws, rules, and regulations through appropriate filings with the U.S. Securities and Exchange Commission.
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.
Date: March 11, 2021
| VICOR CORPORATION |
| /s/ James A. Simms |
| James A. Simms |
| Chief Financial Officer |