SECURITIES AND EXCHANGE COMMISSION
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): January 18, 2005
Planet Technologies, Inc.
(State or other jurisdiction of incorporation)
|(Commission File No.)||(IRS Employer Identification No.)|
6835 Flanders Drive, Suite 100
San Diego, California 92121
(Address of principal executive offices and zip code)
Registrants telephone number, including area code: (858) 457-4742
o Written communications pursuant to Rule 425 under the Exchange Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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 Director; Election of Director.|
|Item 9.01. Exhibits.|
Item 5.02. Departure of Director; Election of Director.
On January 18, 2005, Dr. Robert J. Petcavich resigned his position as a director of the Company. Dr. Petcavichs resignation was not based upon any type of disagreement.
On that same date, at a meeting of the Board of Directors of the Company, Mr. Eric B. Freedus was elected as a director of the Company. As compensation for his providing services as a Director, Mr. Freedus was granted options for 500 common stock shares exercisable at $3.50 per share.
Mr. Freedus requested to be named a director and the Company agreed to appoint Mr. Freedus as a director based upon his and his familys share holdings in Planet and the Companys evaluation of Mr. Freedus background and qualification to serve as a a director.There are no arrangements or understandings between Mr. Freedus and any other persons regarding how long Mr. Freedus will continue to serve as a director.
Over the previous two year period, there has been no transaction or proposed transaction between the Company and Mr. Freedus.
Item 9.01. Exhibits.
|17.1||Resignation letter of Dr. Robert J. Petcavich dated January 18, 2005.|
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.
|Planet Technologies, Inc.
|Dated: January 21, 2005||By:||/s/ Scott L. Glenn|
|Scott L. Glenn|
|Chief Executive Officer and President|