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| JOE > SEC Filings for JOE > Form 8-K on 14-May-2009 | All Recent SEC Filings |
14-May-2009
Change in Directors or Principal Officers, Financial Statements and Exhibits
Approval of The St. Joe Company 2009 Equity Incentive Plan
(e) On May 12, 2009, the shareholders of The St. Joe Company (the "Company") approved the Company's 2009 Equity Incentive Plan (the "2009 Plan"). The Company's Board of Directors had previously adopted the 2009 Plan, subject to shareholder approval. The 2009 Plan permits the Compensation Committee of the Board of Directors to choose from among a range of equity awards to provide for the periodic grant of share-based compensation to our employees and directors. Equity awards under the 2009 Plan will serve to align the interests of our officers, directors and key employees with the interests of our shareholders and will provide appropriate incentives to increase shareholder value and to promote the Company's long-term growth and profitability.
A total of 2,000,000 shares of the Company's common stock are authorized for issuance under the 2009 Plan (subject to adjustment in the event of any change in corporate capitalization). The 2009 Plan will remain in effect until terminated by the Compensation Committee. No additional awards will be granted under the Company's 1997, 1998, 1999 and 2001 Stock Incentive Plans.
A more detailed description of the terms and conditions of the 2009 Plan is included in the Company's Proxy Statement on Schedule 14A filed on March 31, 2009 (the "Proxy Statement"), under the caption "Proposal No. 2-Approval of The St. Joe Company 2009 Equity Incentive Plan" on pages 9-22, which description is incorporated herein by reference. The description of the 2009 Plan is qualified in its entirety by reference to the actual terms of the 2009 Plan which was filed as Appendix A to the Proxy Statement and is incorporated herein by reference.
(c) Exhibits
10.1 The St. Joe Company 2009 Equity Incentive Plan (incorporated by reference to Appendix A to the Company's Proxy Statement on Schedule 14A filed on March 31, 2009).
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