Filed by the
Registrant x
|
Filed by a Party other than the
Registrant o
|
Check
the appropriate box:
|
Payment
of Filing Fee (Check the appropriate box):
|
||
x
|
No
fee required.
|
|
o
|
Fee
computed on table below per Exchange Act Rules 14a-6(i)(1) and
0-11.
|
|
(1)
|
Title
of each class of securities to which transaction
applies:
|
|
(2)
|
Aggregate
number of securities to which transaction applies:
|
|
(3)
|
Per
unit price or other underlying value of transaction computed pursuant to
Exchange Act Rule 0-11 (Set forth the amount on which the filing fee is
calculated and state how it was determined):
|
|
(4)
|
Proposed
maximum aggregate value of transaction:
|
|
(5)
|
Total
fee paid:
|
|
o
|
Fee
paid previously with preliminary materials.
|
|
o
|
Check
box if any part of the fee is offset as provided by Exchange Act Rule
0-11(a)(2) and identify the filing for which the offsetting fee was paid
previously. Identify the previous filing by registration statement number,
or the Form or Schedule and the date of its filing.
|
|
(1)
|
Amount
Previously Paid:
|
|
(2)
|
Form,
Schedule or Registration Statement No.:
|
|
(3)
|
Filing
Party:
|
|
(4)
|
Date
Filed:
|
1.
|
To
elect two directors for terms expiring in
2012;
|
2.
|
To
approve the 2009 Stock Incentive Plan covering 250,000 shares of Common
Stock;
|
3.
|
To
ratify the appointment of BDO Seidman, LLP, as the Company’s independent
registered public accountants for the fiscal year ending September 30,
2009; and
|
4.
|
To
receive the reports of officers and to transact such other business as may
properly come before the meeting.
|
By Order of the Board of Directors, | |
Hauppauge, New York | Joan L. Wolf |
April 15, 2009 | Secretary |
Name
and Address
of
Beneficial Owner
|
Number
of Shares
Beneficially
Owned (1)
|
Percent
of
Class
|
||||||
CBC
Co., Ltd.
|
||||||||
and
affiliates
|
||||||||
2-15-13
Tsukishima,
|
||||||||
Chuo-ku, Tokyo, Japan 107 |
543,715
|
11.3
|
% | |||||
Anita
G. Zucker,
|
||||||||
as
Trustee of Jerry Zucker
|
||||||||
Revocable
Trust
|
||||||||
c/o
The Inter Tech Group, Inc.
|
||||||||
4838 Jenkins Avenue
|
||||||||
North Charleston, SC 29405 |
395,000
|
8.2 | % | |||||
Dimensional
Fund Advisors
|
||||||||
1299
Ocean Avenue
|
||||||||
Santa
Monica, CA 90401
|
387,608
|
(2) | 8.1 | % | ||||
Renaissance
Technologies, Corp.
|
||||||||
800
Third Avenue
|
||||||||
New
York, NY 10022
|
352,600 | 7.3 | % | |||||
David
Weiner
|
||||||||
3940
Laurel Canyon Blvd., Ste. 327
|
||||||||
Studio
City, CA 91604
|
304,472 | (3) | 6.3 | % | ||||
C/O
Vicon Industries, Inc.
|
||||||||
Kenneth
M. Darby
|
338,502 | (4) | 7.0 | % | ||||
Arthur
D. Roche
|
74,654 | (5) | 1.6 | % | ||||
Peter
A. Horn
|
58,747 | (6) | 1.2 | % | ||||
John
M. Badke
|
54,319 | (7) | 1.1 | % | ||||
Peter
F. Neumann
|
37,072 | * | ||||||
Christopher
J. Wall
|
34,027 | (8) | * | |||||
W.
Gregory Robertson
|
31,900 | (9) | * | |||||
Bret
M. McGowan
|
26,820 | (10) | * | |||||
Clifton
H.W. Maloney
|
20,000 | (11) | * | |||||
Total
all Executive Officers
|
||||||||
and
Directors as a group (12 persons)
|
715,591 | (12) | 14.9 | % | ||||
Plan Category |
Number of securities
to be issued upon
exercise of out-
standing options,
warrants and rights
(a)
|
Weighted average exercise price
of outstanding
options, warrants
and rights
(b)
|
Number of securities
remaining available for
future issuance under
equity compensation
plans (excluding
securities reflected
in column (a))
(c)
|
|||||||||
Equity
compensation
|
||||||||||||
plans
approved by
|
||||||||||||
security holders |
467,287
|
$3.98
|
376,258
|
|||||||||
Equity
compensation
|
||||||||||||
plans
not approved
|
||||||||||||
by security holders |
-
|
-
|
-
|
|||||||||
Total |
467,287
|
$3.98
|
376,258
|
Nominees and | Director | ||||
Principal Occupation | Since | Age | |||
Peter
F. Neumann
|
|||||
Retired
President
|
|||||
Flynn-Neumann Agency, Inc. |
1987
|
74
|
|||
Bernard
F. Reynolds
|
New Nominee
|
67
|
|||
Retired
President
|
|||||
Aon
Consulting,
|
|||||
Human Resources Outsourcing Group | |||||
Continuing Directors whose Term of Office
Expires in 2010
|
|||||
Clifton
H. W. Maloney
|
|||||
President
|
|||||
C.H.W. Maloney & Co., Inc. |
2004
|
71
|
|||
W.
Gregory Robertson
|
|||||
Chairman
|
|||||
TM Capital Corp. |
1991
|
65
|
|||
Continuing Director whose Term of Office Expires
in 2011
|
|||||
Kenneth
M. Darby
|
|||||
Chairman
and CEO
|
|||||
Vicon Industries, Inc. |
1987
|
63
|
|||
Arthur
D. Roche
|
|||||
Retired
Executive Vice President
|
|||||
Vicon
Industries, Inc.
|
|||||
Retired
Partner
|
|||||
Arthur Andersen & Co. |
1992
|
70
|
|||
Arthur
D. Roche, Chairman
|
Clifton
H.W. Maloney
|
Peter
F. Neumann
|
W.
Gregory Robertson
|
John
M. Badke, age 49
|
Sr.
Vice President, Finance and
Chief
Financial Officer
|
Peter
A. Horn, age 54
|
Vice
President, Operations
|
Bret
M. McGowan, age 43
|
Vice
President, U.S. Sales and Marketing
|
Yacov
A. Pshtissky, age 57
|
Vice
President, Technology and Development
|
Christopher
J. Wall, age 55
|
Managing
Director, Vicon Industries, Ltd.
|
Yigal
Abiri, age 59
|
General
Manager, Vicon Systems Ltd.
|
Name
and Principal Position
|
Year
|
Salary ($)
|
Bonus ($)
|
Stock
Awards ($)
|
Option
Awards ($)(1)
|
Non-Equity
Incentive Plan Compensation ($)(3)
|
Nonqualified
Deferred Compensation Earnings
($)
|
All
Other Compensation ($)(2)
|
Total ($)
|
||||||||||||||||||||||||
Kenneth
M. Darby
|
2008
|
$ | 400,000 | - | - | $ | 9,792 | (1) | $ | 218,182 | (2) | - | $ | 23,693 | (4) | $ | 651,667 | ||||||||||||||||
Chairman
and Chief Executive Officer
|
2007
|
$ | 325,000 | - | - | $ | 27,495 | (1) | $ | 346,711 | (3) | $ | 852,429 | (5) | $ | 22,324 | (4) | $ | 1,573,959 | ||||||||||||||
John
M. Badke
|
2008
|
$ | 190,000 | - | - | $ | 12,336 | (1) | $ | 109,091 | (2) | - | $ | 7,927 | (6) | $ | 319,354 | ||||||||||||||||
Senior
Vice President and Chief Financial Officer
|
2007
|
$ | 180,000 | - | - | $ | 17,252 | (1) | $ | 173,355 | (3) | - | $ | 7,152 | (6) | $ | 377,759 | ||||||||||||||||
Christopher
J. Wall
|
2008
|
$ | 203,013 | - | - | $ | 9,180 | (1) | $ | 190,891 | (8) | - | $ | 31,022 | (7) | $ | 434,106 | ||||||||||||||||
Managing
Director Vicon Industries, Ltd.
|
2007
|
$ | 200,000 | - | - | $ | 11,263 | (1) | $ | 188,490 | (8) | - | $ | 25,014 | (7) | $ | 424,767 | ||||||||||||||||
Peter
A. Horn
|
2008
|
$ | 168,000 | - | - | $ | 7,834 | (1) | $ | 72,727 | (2) | - | $ | 6,909 | (6) | $ | 255,470 | ||||||||||||||||
Vice
President, Operations
|
2007
|
$ | 163,000 | - | - | $ | 8,375 | (1) | $ | 115,570 | (3) | - | $ | 7,244 | (6) | $ | 294,189 | ||||||||||||||||
Bret
M. McGowan
|
2008
|
$ | 180,000 | - | - | $ | 12,091 | (1) | $ | 74,803 | (9) | - | $ | 6,000 | (6) | $ | 272,894 | ||||||||||||||||
Vice
President, U.S. Sales and Marketing
|
2007
|
$ | 170,000 | - | - | $ | 12,856 | (1) | $ | 60,641 | (9) | - | $ | 6,000 | (6) | $ | 249,497 |
(1)
|
Represents
the compensation costs recognized for financial statement reporting
purposes for the fair value of stock options in accordance with Statement
of Financial Accounting Standards No. 123R. (See “Note 1” under the
caption “Accounting for Stock-Based Compensation” to the accompanying
financial statements.)
|
(2)
|
Represents
cash awards under the Company’s 2008 performance based bonus plan. These
amounts were earned in fiscal 2008 and paid in fiscal
2009.
|
(3)
|
Represents
cash awards under the Company’s 2007 performance based bonus plan. These
amounts were earned in fiscal 2007 and paid in fiscal
2008.
|
(4)
|
All
other compensation represents: (a) automobile expense of $12,894 and
$11,857 for fiscal 2008 and 2007, respectively, (b) country club
membership of $8,589 and $8,257 for fiscal 2008 and 2007, respectively,
and (c) long-term disability insurance of $2,210 paid by the Company for
Mr. Darby in both fiscal 2008 and
2007.
|
(5)
|
Represents
the distribution of a $620,000 severance/retirement benefit and 70,647
shares of the Company’s common stock with a market value of $232,429 upon
the expiration of Mr. Darby’s previous employment agreement on September
30, 2006. Such amounts were earned by Mr. Darby over his thirty
years of service with the Company and charged to expense over prior year
periods.
|
(6)
|
Represents
automobile expense paid by the
Company.
|
(7)
|
All
other compensation represents: (a) automobile expense of $16,929 and
$15,380 for fiscal 2008 and 2007, respectively, and (b) supplemental
retirement contributions of $14,093 and $9,634 for fiscal 2008 and 2007,
respectively.
|
(8)
|
Represents
cash award under Mr. Wall’s performance based bonus
plan.
|
(9)
|
Represents
sales commissions earned.
|
Name
|
Number
of Securities Underlying Unexercised Options (#) Exercisable
|
Number
of Securities Underlying Unexercised Options (#) Unexercisable
|
Equity
Incentive Plan Awards: Number of Securities Underlying Unexercised
Unearned Options (#)
|
Option
Exercise Price ($)
|
Option
Expiration Date
|
||||||||||||
Kenneth
M. Darby
|
16,129 | (1) | - | - | $ | 3.95 |
08/12/09
|
||||||||||
Chairman
and Chief
|
- | 10,000 | (1) | - | $ | 3.59 |
10/25/12
|
||||||||||
Executive
Officer
|
- | 20,000 | (3) | - | $ | 4.79 |
05/22/18
|
||||||||||
John
M. Badke
|
10,000 | (1) | - | - | $ | 3.95 |
08/12/09
|
||||||||||
Senior
Vice President
|
3,000 | (1) | 2,000 | (1) | - | $ | 3.00 |
05/27/11
|
|||||||||
and
Chief Financial Officer
|
5,000 | (2) | - | - | $ | 3.17 |
12/09/10
|
||||||||||
- | 15,000 | (1) | - | $ | 3.59 |
10/25/12
|
|||||||||||
- | 10,000 | (3) | - | $ | 4.79 |
05/22/18
|
|||||||||||
Christopher
J. Wall
|
10,000 | (1) | - | - | $ | 2.80 |
11/04/08
|
||||||||||
Managing
Director
|
10,000 | (1) | - | - | $ | 3.95 |
08/12/09
|
||||||||||
Vicon
Industries, Ltd.
|
3,000 | (1) | 2,000 | (1) | - | $ | 3.00 |
05/27/11
|
|||||||||
1,500 | (1) | 3,500 | (1) | - | $ | 3.17 |
12/09/11
|
||||||||||
- | 5,000 | (1) | - | $ | 3.59 |
10/25/12
|
|||||||||||
- | 10,000 | (3) | - | $ | 4.79 |
05/22/18
|
|||||||||||
Peter
A. Horn
|
5,000 | (1) | - | - | $ | 3.95 |
08/12/09
|
||||||||||
Vice
President, Operations
|
3,000 | (1) | 2,000 | (1) | - | $ | 3.00 |
05/27/11
|
|||||||||
1,500 | (1) | 3,500 | (1) | - | $ | 3.17 |
12/09/11
|
||||||||||
- | 3,500 | (1) | - | $ | 3.59 |
10/25/12
|
|||||||||||
- | 7,500 | (3) | - | $ | 4.79 |
05/22/18
|
|||||||||||
Bret
M. McGowan
|
7,500 | (1) | - | - | $ | 2.80 |
11/04/08
|
||||||||||
Vice
President
|
5,000 | (1) | - | - | $ | 3.95 |
08/12/09
|
||||||||||
U.S.
Sales and Marketing
|
3,000 | (1) | 2,000 | (1) | - | $ | 3.00 |
05/27/11
|
|||||||||
1,924 | (2) | - | - | $ | 3.17 |
12/09/10
|
|||||||||||
923 | (1) | 2,153 | (1) | - | $ | 3.17 |
12/09/11
|
||||||||||
- | 13,500 | (1) | - | $ | 3.59 |
10/25/12
|
|||||||||||
- | 5,000 | (3) | - | $ | 4.79 |
05/22/18
|
(1)
|
Options
vest over a four year period at 30% of the shares on the first anniversary
of the grant date, 30% of the shares on the second anniversary of the
grant date and the remaining 40% of the shares on the third anniversary of
the grant date. Options expire after the sixth anniversary of the grant
date.
|
(2)
|
Options
vest over a three year period at 30% of the shares on the grant date, 30%
of the shares on the first anniversary of the grant date and the remaining
40% of the shares on the second anniversary of the grant date. Options
expire after the fifth anniversary of the grant
date.
|
(3)
|
Options
vest over a five year period in five equal annual installments beginning
on the first anniversary of the grant date. Options expire
after the tenth anniversary of the grant
date.
|
Name
|
Fees
Earned or Paid in Cash
($)(1)
|
Stock
Awards
($)
|
Option
Awards
($)(2)(3)
|
All
Other
Compensation ($)
|
Total ($)
|
|||||||||||||||
Clifton
H.W. Maloney
|
$ | 40,400 | - | $ | 4,940 | (2) | - | $ | 45,340 | |||||||||||
Peter
F. Neumann
|
$ | 41,600 | - | $ | 2,152 | (2) | - | $ | 43,752 | |||||||||||
W.
Gregory Robertson
|
$ | 29,600 | - | $ | 4,305 | (2) | - | $ | 33,905 | |||||||||||
Arthur
D. Roche
|
$ | 49,600 | - | $ | 4,305 | (2) | - | $ | 53,905 | |||||||||||
(1)
|
Directors
who are not employees of the Company received an annual fee of $20,000 for
regular Board meetings and $1,200 per committee meeting attended in person
or by teleconference. The Chairman of the Audit Committee also received an
additional retainer of $8,000.
|
(2)
|
Represents
the compensation costs recognized for financial statement reporting
purposes in fiscal 2008 for the fair value of stock options in accordance
with Statement of Financial Accounting Standards
No. 123R. (See “Note 1” under the caption “Accounting for
Stock-Based Compensation” to the accompanying financial
statements.)
|
(3)
|
On
May 22, 2008, Mr. Neumann was granted 3,500 options and Messrs. Maloney,
Roche and Robertson were each granted 7,000 options to purchase common
stock at the opening market price of $4.79 per share. As of
September 30, 2008, Messrs. Maloney, Neumann, Robertson and Roche held
27,000, 3,500, 25,575 and 10,000 stock options,
respectively.
|
Peter
F. Neumann, Chairman
|
Clifton
H.W. Maloney
|
W.
Gregory Robertson
|
Arthur
D. Roche
|
2008
|
2007
|
|||||||
Audit
fees
|
$ | 245,000 | $ | 250,000 | ||||
Audit
related fees
|
$ | 5,000 | $ | 5,000 | ||||
Tax
fees
|
$ | 42,000 | $ | 35,000 |
By
Order of the Board of Directors,
|
|
Hauppauge,
New York
|
Joan
L. Wolf
|
April
15, 2009
|
Secretary
|