Unassociated Document
 
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 AND EXCHANGE ACT OF 1934
 
Date of Report (Date of Earliest Event Reported): May 29, 2008
 
CHINA BAK BATTERY, INC.
(Exact name of registrant as specified in its charter)

Nevada
 
000-49712
 
86-0442833
(State or other jurisdiction
of incorporation)
 
(Commission File No.)
 
(IRS Employer
Identification No.)

BAK Industrial Park, No. 1 BAK Street
Kuichong Town, Longgang District
Shenzhen, 518119
People’s Republic of China
(Address, including zip code, of principal executive offices)
 
(86-755) 8977-0093
(Registrant’s telephone number, including area code)
 
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
Written communications pursuant to Rule 425 under the Securities 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 14d-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 Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

(e) On May 29, 2008, the Compensation Committee of the Board of Directors of China BAK Battery, Inc. (the “Company”) recommended and approved the grant of an option to purchase an aggregate of 1,080,000 shares of the Company’s common stock, par value $0.001, to its Chief Executive Officer, Mr. Xiangqian Li, under the China BAK Battery, Inc. Stock Option Plan (the “Plan”). The exercise price, vesting schedule and term of the option are described below. Issuance of the option to Mr. Li is subject to shareholder approval of the amendment of the Plan to increase the number of shares available for issuance thereunder.

The option exercise price is $4.18, which is the average closing price of the five trading days preceding March 29, 2008, the date the grant was approved. The option is subject to a three-year vesting schedule, with the first 1/12 vesting on the last day of the full fiscal quarter following the date of grant (September 30, 2008), and the remaining 11/12 vesting in eleven equal installments on the last day of each following fiscal quarter. The option will expire on May 28, 2013.


 
 
 

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.
 
 
CHINA BAK BATTERY, INC.
 
 
 
 
 
 
          Date: June 3, 2008
By:
/s/ Tony Shen
 
 
Tony Shen
 
 
Chief Financial Officer and Secretary