ITEM 5.02. DEPARTURE OF DIRECTORS OR PRINCIPAL OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF PRINCIPAL OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS On January 19, 2007, the Board of Directors (“Board”) of Microfield Group, Inc. (the “Company”) approved a new Annual Incentive Bonus Plan (the “Plan”) for executive officers that will apply for the year beginning January 1, 2007 through December 31, 2007. The bonus targets for the executive officers and other eligible employees are recommended by the Compensation Committee and adopted by the Board. The bonus targets are based on performance measures tied to both revenue and operating income goals for the Company. Under the Plan, the Board approved annual revenue and operating income targets for the Company for 2007. If the Company exceeds its performance targets the executive officers will receive bonuses based on a sliding scale related to both revenue and operating income goals for the Company. These bonuses could be as high as 40% of the annual base compensation for the following executive employees: • A. Mark Walter, President, Microfield Group, Inc. and Christenson Electric, Inc.
• Gene Ameduri, President, EnergyConnect, Inc.
• Randall R. Reed, CFO, Microfield Group, Inc.
The bonus payable under the Plan to Rodney Boucher, CEO of Microfield Group, Inc. could be as high as 60% of his annual base compensation. The Compensation Committee of the Board will govern the Annual Incentive Bonus
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Commitments and contingencies Shareholders’ equity : Convertible Series 2 preferred stock, no par value, 10,000,000 shares authorized, 3,333,333 and 5,875,241 shares issued and outstanding at September 30, 2006 and December 31, 2005, respectively (Note 2) 1,400,000 2,367,699 Convertible Series 3 preferred stock, no par value, 10,000,000 shares authorized, 2,040 and 3,485 shares issued and outstanding at September 30, 2006 and December 31, 2005, respectively (Note 2) 856,670 1,463,658 Convertible Series 4 preferred stock, no par value, 10,000,000 shares authorized, 526 and 4,392 shares issued and outstanding at September 30, 2006 and December 31, 2005, respectively (Note 2) 200,000 1,643,423 Common stock, no par value, 225,000,000 and 125,000,000 shares authorized, at September 30, 2006 and December 31, 2005, respectively, 75,552,437 and 55,557,870 shares issued and outstanding at September 30, 2006 and December 31, 2005, respectively (Note 2) 110,912,176 91,532,139 Common stock warrants (Note 3) 36,374,570 38,391,161 Accumulated deficit (105,010,512 ) (107,494,133 )
posted
Microfield Group Inc filed on 01/29/2007 Company Filings
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FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940 OMB APPROVAL OMB Number: 3235-0287 Expires: January 31, 2008 Estimated average burden hours per response 0.5
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b). 1. Name and Address of Reporting Person*MCCORMICK WILLIAM C
-------------------------------------------------------------------------------- (Last) (First) (Middle) 111 SW COLUMBIA, SUITE 480
-------------------------------------------------------------------------------- (Street)PORTLAND OR 97201
-------------------------------------------------------------------------------- (City) (State) (Zip) 2. Issuer Name and Ticker or Trading Symbol MICROFIELD GROUP INC [MICG] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable)X Director 10% Owner Officer (give title below) Other (specify below)
3. Date of Earliest Transaction (Month/Day/Year) 01/04/2007 4. If Amendment, Date of Original Filed (Month/Day/Year) 6. Individual or Joint/Group Filing (Check Applicable Line)X Form filed by One Reporting Person Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned 1.Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Common Stock 01/04/2007 A 174,954 A $ 0.44 488,255 D
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities) 1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year) 7. Title and Amount of Underlying Securities (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4) Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares Common Stock Option $ 0.44 01/04/2007 C 174,954 01/04/2007 08/23/2010 Common Stock 174,954 (1) 3,175,046 D Explanation of Responses: 1. Mr. McCormick exercised an option to acquire 174,954 shares at $0.44 per share. /s/William C. McCormick 01/26/2007 ** Signature of Reporting Person Date Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. * If the form is filed by more than one reporting person, see Instruction 4(b)(v). ** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure. Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
quote:Originally posted by Repoman75: Word of advice - learn to summarize these cumbersome filings, instead of just reposting... will help other investors get through to the point.
Ok, let me check out some of my sources.. will be back.
quote:Originally posted by Repoman75: Word of advice - learn to summarize these cumbersome filings, instead of just reposting... will help other investors get through to the point.
Ok, let me check out some of my sources.. will be back.
LOL....
What's so funny? I'm being serious.. newbies can't read this things... if you want to be a leader, need to summarize.
Check HSM.. I'm banned there. Nothing on RB either.
-------------------- Stick with Repo's plan in '07 - FRPT/DKAM! Posts: 6379 | From: PA | Registered: Dec 2004
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Microfield's EnergyConnect Continues to Expand Demand Response Services to Additional Hospitals in the Thomas Jefferson Health System Thursday January 25, 8:30 am ET
PORTLAND, Ore.--(BUSINESS WIRE)--Microfield Group, Inc. ("Microfield") (OTCBB:MICG - News) today announced that its subsidiary EnergyConnect, Inc. ("EnergyConnect"), has signed agreements with four additional Main Line Health Systems hospitals as part of the Jefferson Health System network of hospitals. This includes Lankenau Hospital, Paoli Hospital, Bryn Mahr Hospital, and Bryn Mahr Rehabilitation Hospital. Additionally, four other Jefferson Health Systems Hospitals have agreed to be part of the EnergyConnect, Inc. program. They are the Frankford hospitals in Frankford, Bucks County, Torresdale, and Wellington. These hospitals, combined with the previously contracted Main TJU campus and Methodist Hospitals, represent the largest single network of hospitals participating in the PJM Demand Response program. Collectively, this group of facilities has a peak load of over sixty megawatts.
Randy Haines, TJU's Energy Manager, said "The success that we experienced this past year on our main campus has proven the value of EnergyConnect's E'Services to maximize the revenue that we have received from the PJM program. We now are utilizing this program throughout our entire hospital network."
Liz Kimmel, EnergyConnect's Director of Business Development said,"The confidence that Randy has demonstrated in EnergyConnect in enrolling these hospitals in our program continues to validate the excellent value that we bring to participants. This will help TJU in holding down health care costs."
EnergyConnect, Inc. is the leading provider of Energy Automation services. More than just demand response, EnergyConnect's Energy Automation solutions proactively engage energy market participants, Independent System Operators, Regional Transmission Organizations and Electric Utilities. EnergyConnect is on the web at www.EnergyConnectInc.com.
About Microfield Group, Inc.
Microfield Group combines selling wholesale services to regional power grids with traditional electrical contracting and design and integration of infrastructure for wind, solar and other distributed power systems. This combination provides the platform to be a contributor to the growing alternative energy industry and to provide business processes and software capabilities that link the adjustment of consumer energy consumption to the wholesale electric market. Microfield utilizes consumers of electricity to generate revenue from the regional grids and serves this market through proprietary software and models that enable consumers to adjust use, provide prices to determine beneficial actions, and automate all aspects of the process. Microfield is headquartered in Portland, Oregon, and its common stock is traded on the OTC Bulletin Board under the symbol "MICG." Additional information about Microfield is available at www.microfield.com.
-------------------- Stick with Repo's plan in '07 - FRPT/DKAM! Posts: 6379 | From: PA | Registered: Dec 2004
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Seems to me that 2 things hurt this stock - insider selling by Vince Cushing (now gone from the company) and poor performance.
However, revenues have turned around positively, and if the insider is done dumping, good be good for a ride to $1 - $1.50. And insider bought $170K shares at .44 ... soo
I'll radar.
-------------------- Stick with Repo's plan in '07 - FRPT/DKAM! Posts: 6379 | From: PA | Registered: Dec 2004
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quote:Originally posted by Jenna: Damn!!!! Stupid Scottrade has this as a CR1...what are they doing lately....every time I try to buy I have to call it in!!!
They SUCK!!!!!
Its gotten to the point where I call 3 times a day at least.
I am opening another acct. tomorrow w/choice trade.
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quote:Originally posted by Repoman75: Very nice... but I don't like the buying restrictions.
HOWEVER, it shouldn't matter.. this should not be played as a momo.
Repo Scottrade has become useless.
I know the restrictions throw up red flags for you...BUT they have literally thrown CR1's on legitimate stocks for increases in volume....WTF
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posted
one thing that caught my eye looking at a couple charts.. look at the SPX on TRDY and the convergence right before january 2005.. and look at the convergence on the MICG chart right now.. looks similar.. granted they are two different stocks entirely, just caught my attention, b/c look how hard TRDY ran in the same situation, lol.. Im not in MICG yet, but this definately has my attention right now..
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