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 EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported) October 22, 2009

ACORN ENERGY, INC.
(Exact name of Registrant as Specified in its Charter)

Delaware
  
0-19771
  
22-2786081
(State or Other Jurisdiction
  
(Commission file Number)
  
(IRS Employer
of Incorporation)
      
Identification No.)

4 West Rockland Road, Montchanin, Delaware                   19710
(Address of Principal Executive Offices)                      (Zip Code)

Registrant’s telephone number, including area code (302) 656-1707

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:

¨  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨  Soliciting material pursuant to Rule 14a-2 under the Exchange Act (17 CFR 240.14a-2)

¨  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 
 
 

Section 5 - Corporate Governance and Management

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

Base Salary Increase

An increase in the base monthly salary of Benny Sela, Chief Executive Officer of DSIT Solutions Ltd. (“DSIT”), a subsidiary of Acorn Energy, Inc. (the “Company”), from NIS 54,601 to NIS 60,061 was approved on October 22, 2009 by the board of directors of DSIT.  The increase is effective November 1, 2009. The board of directors of DSIT also approved changing Mr. Sela’s annual bonus, with Mr. Sela’s consent, from 5% of DSIT’s annual consolidated net income to 1.75% of DSIT’s annual consolidated gross profit effective for the 2009 calendar year. No changes were made to the base salaries of the other named executive officers of the Company.

 
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SIGNATURES

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 on this 23rd day of October, 2009.

 
ACORN ENERGY, INC.
     
 
By:
/s/ Joe B. Cogdell, Jr. 
  
 
Name: 
Joe B. Cogdell, Jr.
 
Title:
Vice President, General Counsel and Secretary
 
 
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