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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
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Date of Report (Date of earliest event reported): May 14, 1999
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TRICORD SYSTEMS, INC.
(Exact name of registrant as specified in its charter)
Delaware 0-21366 41-1590621
(State of or other (Commission (I.R.S. Employer
jurisdiction of File Number) Identification No.)
incorporation)
2905 Northwest Boulevard, Suite 20,
Plymouth, Minnesota 55441
(Address of principal executive offices) (zip code)
Registrant's telephone number, including area code: (612) 557-9005
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ITEM 5. OTHER EVENTS.
On May 14, 1999, Tricord Systems, Inc. (the "Company") announced that
Rod Canion, Tricord investor and computer industry pioneer, has assumed an
active management role in the Company. Effective today, Canion will join the
Company's Chairman and Chief Executive Officer John Mitcham in the
newly-created Office of the CEO to assist the Company as it accelerates
development and marketing efforts to introduce new products into the
rapidly-growing storage arena. Additional information is set forth in the
press release included as an exhibit to this Report, the text of which is
incorporated by reference herein.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
(a) FINANCIAL STATEMENTS OF BUSINESSES ACQUIRED.
Not applicable.
(b) PRO FORMA FINANCIAL INFORMATION.
Not applicable.
(c) EXHIBITS.
99.1 - Press Release dated May 14, 1999.
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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 thereunto duly authorized.
TRICORD SYSTEMS, INC.
Dated: May 18, 1999 By /s/ John J. Mitcham
John J. Mitcham
Chairman and Chief Executive Officer
2
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INDEX TO EXHIBITS
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Exhibit Item Method of Filing
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99.1 Press Release dated May 14, 1999.............................. Filed herewith electronically
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TRICORD CREATES "OFFICE OF THE CEO"
PLYMOUTH, MN (May 14, 1999) Tricord Systems, Inc. today announced that Rod
Canion, Tricord investor and computer industry pioneer, has assumed an active
management role in the Company. Effective today, Canion will join Chairman and
CEO John Mitcham in the newly-created Office of the CEO to assist the company as
it accelerates development and marketing efforts to introduce new products into
the rapidly-growing storage arena.
"Rod has been consulting with the Company on our business and product strategy
for the past several months," said John Mitcham. "Tricord is essentially a
'public start-up' and Rod brings experience and knowledge that directly apply.
We have a longstanding relationship built on mutual trust and respect, and I
believe that together we can lead the Tricord team to success," concluded
Mitcham.
"Tricord has made great progress in recent months to pinpoint customer needs and
develop advanced, innovative technology to address the exploding demand for
storage," Canion said. "I have gotten to know the team during this time and
have a high degree of confidence in the leadership we have in place. We have
targeted a specific market segment that can significantly benefit from our
technology and have begun to develop products to meet the needs of those
customers," he added.
TRICORD SYSTEMS, INC. is a developer of innovative, storage technologies for
customers seeking convenient, cost-effective solutions for data storage
management. Tricord solutions are based on Tricord Storage Management Software
(TSMS) - high performance software that makes storage
-more-
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CEO, pg. 2
a shared network resource and is optimized for both current and emerging storage
architectures. Tricord is based in Plymouth, MN USA. For more information,
please call 1-800-TRICORD or 612-557-9005, or visit us at www.tricord.com.
# # #
"Safe-Harbor'' Statement Under Private Securities Act of 1995: The statements
contained herein that are not historical facts contain forward-looking
information with respect to plans, projections or future performance of the
Company. There is no guarantee or assurance that these plans, projections or
future performance of the Company as indicated would be achieved, and actual
results could differ materially. Factors, certain risks and uncertainties which
could impact the Company's future results include, without limitation, the
ability of Tricord to complete development and release commercially its storage
management software products, the ability of Tricord to sign OEM partners,
market acceptance of Tricord-enabled products, the ability of the Company to
maintain its cost structure in accordance with its operating plan, and other
risks and uncertainties detailed in the Company's filings with the Securities
and Exchange Commission, including the Company's Form 10-K for fiscal 1998.
Tricord, Tricord Storage Management Software, TSMS, and Network Storage Made
Simple are all trademarks, registered trademarks, or service marks of Tricord
Systems, Inc. All other names mentioned are trademarks, registered trademarks,
or service marks of their respective companies.
CORPORATE AND FINANCIAL CONTACT:
Liz Hersey
Tricord Systems, Inc.
612-551-6609
MEDIA CONTACT:
John Sweney
Brookwoods Media Group Inc.
713-688-2841
