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| PBY > SEC Filings for PBY > Form 8-K on 24-Jun-2009 | All Recent SEC Filings |
24-Jun-2009
Change in Directors or Principal Officers, Regulation FD Disclosure
(e) On June 24, 2009, The Pep Boys - Manny, Moe & Jack (the "Company") adopted the amended and restated The Pep Boys - Manny Moe & Jack 2009 Stock Incentive Plan (the "Stock Plan") and the amended and restated The Pep Boys - Manny, Moe & Jack Annual Incentive Bonus Plan (the "Bonus Plan"), both of which were approved by shareholders at the Company's 2009 Annual Meeting.
The Stock Plan was amended and restated to (i) increase by an additional 1,500,000 shares the total number of shares of the Company's common stock authorized for issuance under the Stock Plan from 4,500,000 shares to 6,000,000 shares, (ii) extend the term of the Stock Plan so that it will expire on December 31, 2014, (iii) to rename the Stock Plan and (iv) to clairfy certain terms thereof.
The Bonus Plan was amended and restated to make certain clarifying changes to the Bonus Plan and was submitted to the Company's shareholders for approval so that certain amounts paid under the Bonus Plan may continue to be deductible under Section 162(m) of the Internal Revenue Code.
The amounts payable to our named executive officers under the Bonus Plan for
2009 cannot be determined until after the 2009 fiscal year is completed.
However, if certain corporate targets estabilshed by the Company's Human
Resources Committee of the Board of Directors are achived in fiscal 2009, our
named executive officers would receive the following bonus target amounts:
Michael R. Odell, Chief Executive Officer, $800,000; Raymond L. Arthur, EVP -
Chief Financial Officer, $375,000; Joseph A. Cirelli, SVP - Corporate
Development, $135,009; Troy E. Fee, SVP - Human Resources, $112,500; and Scott
A. Webb, SVP - Merchandising & Marketing, $180,000.
On June 24, 2009, the Company issued a press release that announced the proceedings from its 2009 Annual Meeting of Shareholders held in Philadelphia.
The information in this Section 7.01 of this Current Report and Exhibit 99.1 attached to this Current Report is being furnished and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liabilites of that Section. The information contained in this Section 7.01 of this Current Report and Exhibit 99.1 of this Current Report shall not be incorporated by reference into any registration statement or other document pursuant to the Securites Act of 1933.
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