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<TITLE>Form 8-K</TITLE>
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<P style="font-size: 10pt" align="center"><b>As filed with the Securities and Exchange Commission on March 10, 2009</b>
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style="font-size: 1pt; width: 100%; border-bottom: black 1pt solid">&nbsp;</DIV>

<P style="font-size: 14pt" align="center"><B>UNITED STATES<BR>
SECURITIES AND
EXCHANGE COMMISSION<BR>
<FONT style="font-size: 12pt">Washington, D.C. 20549
</FONT></B>

<P style="font-size: 18pt" align="center"><B>FORM 8-K</B>

<P style="font-size: 12pt" align="center"><B>CURRENT REPORT<BR>
Pursuant to
Section 13 or 15(d) of the Securities Exchange Act of 1934</B>

<P style="font-size: 10pt" align="center"><B>Date of Report (Date of earliest
event reported): March 5, 2009</B>

<P style="font-size: 24pt" align="center"><B>CEVA, INC.<BR>
</B><FONT
style="font-size: 10pt">(Exact name of registrant as specified in its charter)
</FONT>
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cellpadding="0" width="100%" border="0">

 <TR>
  <TD width="32%">&nbsp;</TD>
  <TD width="1%">&nbsp;</TD>
  <TD width="33%">&nbsp;</TD>
  <TD width="1%">&nbsp;</TD>
  <TD width="32%">&nbsp;</TD>
 </TR>
 <TR valign="bottom">
  <TD style="border-bottom: #000000 1px solid"><B>Delaware</B></TD>
  <TD>&nbsp;</TD>
  <TD style="border-bottom: #000000 1px solid"><B>000-49842</B></TD>
  <TD>&nbsp;</TD>
  <TD style="border-bottom: #000000 1px solid"><B>77-0556376</B></TD>
 </TR>
 <TR valign="top">
  <TD>(State or other Jurisdiction of Incorporation)</TD>
  <TD>&nbsp;</TD>
  <TD>(Commission File Number)</TD>
  <TD>&nbsp;</TD>
  <TD>(IRS Employer Identification No.)</TD>
 </TR>

</TABLE>
<TABLE style="font-size: 10pt; text-align: center" cellspacing="0"
cellpadding="0" width="100%" border="0">

 <TR>
  <TD width="49%">&nbsp;</TD>
  <TD width="1%">&nbsp;</TD>
  <TD width="49%">&nbsp;</TD>
 </TR>
 <TR valign="bottom">
  <TD style="border-bottom: #000000 1px solid"><B>2033 Gateway Place, Suite
150, San Jose, CA<BR>
</B></TD>
  <TD>&nbsp;</TD>
  <TD style="border-bottom: #000000 1px solid"><B>95110</B></TD>
 </TR>
 <TR valign="top">
  <TD>(Address of Principal Executive Offices)</TD>
  <TD>&nbsp;</TD>
  <TD>(Zip Code)</TD>
 </TR>

</TABLE>


<P style="font-size: 10pt" align="center">Registrant&#8217;s telephone number,
including area code: <B>(408) 514-2900</B>
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cellpadding="0" width="30%" border="0">

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  <TD width="100%">&nbsp;</TD>
 </TR>
 <TR>
  <TD style="border-bottom: #000000 1px solid" nowrap><B>&nbsp;</B></TD>
 </TR>
 <TR>
  <TD nowrap>(Former name or former address if changed since last report.)</TD>
 </TR>

</TABLE>


<P style="font-size: 10pt" align="left">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:

<P style="font-size: 10pt" align="left"><FONT face="Wingdings">o</FONT> Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)<BR>
<BR>
<FONT face="Wingdings">o</FONT> Soliciting material pursuant
to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)<BR>
<BR>
<FONT
face="Wingdings">o</FONT> Pre-commencement communications pursuant to Rule
14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))<BR>
<BR>
<FONT
face="Wingdings">o</FONT> Pre-commencement communications pursuant to Rule
13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))<BR>


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<P style="font-size: 10pt" align="center">&nbsp;

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<P style="font-size: 10pt" align="left"><B>ITEM 5.02. DEPARTURE OF DIRECTORS OR
CERTAIN OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF CERTAIN OFFICERS;
COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS</B>

<P style="font-size: 10pt" align="left">On March&nbsp;5, 2009, the Compensation
Committee (the &#8220;Committee&#8221;) of the Board of Directors of CEVA, Inc.
(the &#8220;Company&#8221;) approved an annual bonus of New Israeli Shekel
(NIS)&nbsp;559,020 (approximately U.S.$132,000 based on the exchange rate of
NIS to the U.S. dollar on March&nbsp;9, 2009) and NIS 369,000 (approximately
U.S.$87,000 based on the same exchange rate) to each of Gideon Wertheizer, the
Company&#8217;s Chief Executive Officer, and Yaniv Arieli, the Company&#8217;s
Chief Financial Officer, respectively, under the Company&#8217;s 2008 Executive
Bonus Plan (the &#8220;2008 Plan&#8221;). The bonus amounts represented 50% of
each of Messrs.&nbsp;Wertheizer and Arieli&#8217;s 2008 base salary
(denominated in NIS), the maximum cap for their annual 2008 bonus in accordance
with the 2008 Plan.

<P style="font-size: 10pt" align="left">Issachar Ohana, the Company&#8217;s
Executive Vice President, Worldwide Sales, received an annual bonus of
$128,500, denominated in the U.S. dollar, under his 2008 Incentive Plan.

<P style="font-size: 10pt" align="left">On March&nbsp;5, 2009, the Committee
also approved a 2009 Incentive Plan (the &#8220;2009 Plan&#8221;) for
Mr.&nbsp;Ohana, effective as of January&nbsp;1, 2009. The following is a
description of the 2009 Plan provided pursuant to Paragraph&nbsp;10(iii) to
Item&nbsp;601 of Regulation&nbsp;S-K, which requires a written description of a
compensatory plan when there is no formal document containing the compensation
information.

<P style="font-size: 10pt" align="left">In accordance with the 2009 Plan,
Mr.&nbsp;Ohana&#8217;s bonus is based on a formula using a specified 2009
annual revenue target multiplied by a specified commission rate. A commission
multiplier of 1.0 is applied to the commission rate based on 0% to 100%
achievement of the 2009 annual revenue target. A commission multiplier of 1.5
is applied to the commission rate based on the achievement of the 2009 annual
revenue target beyond 100%. The 2009 annual revenue target is based on the
Company&#8217;s internal 2009 budget as approved by its board of directors.
Mr.&nbsp;Ohana&#8217;s bonus based on the achievement of the 2009 annual
revenue target is capped at $100,000. In addition, Mr.&nbsp;Ohana is eligible
to receive an additional quarterly bonus of $5,000 each if specified quarterly
revenue targets based on the 2009 annual revenue target are achieved.
Furthermore, Mr.&nbsp;Ohana is eligible to receive an additional bonus of
$5,000 each time he successfully executes a license agreement with a specified
large customer that exceeds a specified amount. The 2009 strategic account
bonus is capped at $20,000 if the Company fails to achieve the 2009 annual
revenue target under the 2009 Plan but Mr.&nbsp;Ohana would not be subject to
any cap if the 2009 annual revenue target under the 2009 Plan is achieved. The
commission-based bonus is payable quarterly based on the criteria discussed
above and is subject to payroll taxes and tax withholdings. The 2009 Plan
follows the same parameters as Mr.&nbsp;Ohana&#8217;s 2008 incentive plan
except for different dollar figures for the 2009 annual revenue target, the
2009 quarterly revenue target and the specified large customer accounts.

<P style="font-size: 10pt" align="left">Due to their strategic significance,
the Company believes that the disclosure of the 2009 annual revenue target,
quarterly revenue targets, commission rate and information relating to the
large customer accounts under the 2009 Plan would cause competitive harm to the
Company and therefore are not disclosed herein.

<P style="font-size: 10pt" align="center">2


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<P style="font-size: 10pt" align="center"><B>SIGNATURES</B>

<P style="font-size: 10pt; text-indent: 4%" align="left">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.

<P style="font-size: 10pt; margin-left: 46%" align="left">CEVA, INC.

<P style="font-size: 10pt" align="left">Date: March&nbsp;10, 2009

<P style="margin-top: -11pt; font-size: 10pt; margin-left: 46%"
align="left">By: <U>/s/ Yaniv Arieli&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Yaniv Arieli<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Chief Financial Officer

<P style="font-size: 10pt" align="center">3

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{"company-data": {"conformed-name": "CEVA  INC", "cik": "0001173489", "assigned-sic": "3674", "irs-number": "770556376", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-49842", "film-number": "09668788"}, "business-address": {"street1": "2033 GATEWAY PLACE, SUITE 150", "city": "SAN JOSE", "state": "CA", "zip": "95110-1002", "phone": "4085142900"}, "mail-address": {"street1": "2033 GATEWAY PLACE, SUITE 150", "city": "SAN JOSE", "state": "CA", "zip": "95110-1002"}, "former-company": [{"former-conformed-name": "PARTHUSCEVA INC", "date-changed": "20021101"}, {"former-conformed-name": "CEVA INC", "date-changed": "20020515"}]}
Form 8-K
As filed with the Securities and Exchange Commission on March 10, 2009
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): March 5, 2009
CEVA, INC.
(Exact name of registrant as specified in its charter)
Delaware
000-49842
77-0556376
(State or other Jurisdiction of Incorporation)
(Commission File Number)
(IRS Employer Identification No.)
2033 Gateway Place, Suite
150, San Jose, CA
95110
(Address of Principal Executive Offices)
(Zip Code)
Registrant's telephone number,
including area code:
(408) 514-2900
(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:
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
On March 5, 2009, the Compensation
Committee (the "Committee") of the Board of Directors of CEVA, Inc.
(the "Company") approved an annual bonus of New Israeli Shekel
(NIS) 559,020 (approximately U.S.$132,000 based on the exchange rate of
NIS to the U.S. dollar on March 9, 2009) and NIS 369,000 (approximately
U.S.$87,000 based on the same exchange rate) to each of Gideon Wertheizer, the
Company's Chief Executive Officer, and Yaniv Arieli, the Company's
Chief Financial Officer, respectively, under the Company's 2008 Executive
Bonus Plan (the "2008 Plan"). The bonus amounts represented 50% of
each of Messrs. Wertheizer and Arieli's 2008 base salary
(denominated in NIS), the maximum cap for their annual 2008 bonus in accordance
with the 2008 Plan.
Issachar Ohana, the Company's
Executive Vice President, Worldwide Sales, received an annual bonus of
$128,500, denominated in the U.S. dollar, under his 2008 Incentive Plan.
On March 5, 2009, the Committee
also approved a 2009 Incentive Plan (the "2009 Plan") for
Mr. Ohana, effective as of January 1, 2009. The following is a
description of the 2009 Plan provided pursuant to Paragraph 10(iii) to
Item 601 of Regulation S-K, which requires a written description of a
compensatory plan when there is no formal document containing the compensation
information.
In accordance with the 2009 Plan,
Mr. Ohana's bonus is based on a formula using a specified 2009
annual revenue target multiplied by a specified commission rate. A commission
multiplier of 1.0 is applied to the commission rate based on 0% to 100%
achievement of the 2009 annual revenue target. A commission multiplier of 1.5
is applied to the commission rate based on the achievement of the 2009 annual
revenue target beyond 100%. The 2009 annual revenue target is based on the
Company's internal 2009 budget as approved by its board of directors.
Mr. Ohana's bonus based on the achievement of the 2009 annual
revenue target is capped at $100,000. In addition, Mr. Ohana is eligible
to receive an additional quarterly bonus of $5,000 each if specified quarterly
revenue targets based on the 2009 annual revenue target are achieved.
Furthermore, Mr. Ohana is eligible to receive an additional bonus of
$5,000 each time he successfully executes a license agreement with a specified
large customer that exceeds a specified amount. The 2009 strategic account
bonus is capped at $20,000 if the Company fails to achieve the 2009 annual
revenue target under the 2009 Plan but Mr. Ohana would not be subject to
any cap if the 2009 annual revenue target under the 2009 Plan is achieved. The
commission-based bonus is payable quarterly based on the criteria discussed
above and is subject to payroll taxes and tax withholdings. The 2009 Plan
follows the same parameters as Mr. Ohana's 2008 incentive plan
except for different dollar figures for the 2009 annual revenue target, the
2009 quarterly revenue target and the specified large customer accounts.
Due to their strategic significance,
the Company believes that the disclosure of the 2009 annual revenue target,
quarterly revenue targets, commission rate and information relating to the
large customer accounts under the 2009 Plan would cause competitive harm to the
Company and therefore are not disclosed herein.
2
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.
CEVA, INC.
Date: March 10, 2009
By:
/s/ Yaniv Arieli
Yaniv Arieli
Chief Financial Officer
3