Summary of SCHAWK INC - Yahoo! Finance

Change in Directors or Principal Officers, Regulation FD Disclosure, Financial Stateme

Item 5.02- Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On July 24, 2012, Schawk, Inc. (the "Company") announced that, effective July 24, 2012, Eric N. Ashworth has been appointed President of the Company. In connection with Mr. Ashworth's appointment, David A. Schawk, who had been serving as the Company's President and Chief Executive Officer, will continue to serve in his capacity as Chief Executive Officer, and A. Alex Sarkisian, who had been serving as the Company's Executive Vice President and Chief Operating Officer, will serve as the Company's Senior Executive Vice President of Client Development.

Prior to his appointment as President, Mr. Ashworth, 46, had been serving as the Company's Chief Strategy Officer since 2009 and, prior to that, the chief strategy officer for Anthem Worldwide. Mr. Ashworth was founding partner and president of BlueMint Associates, a branding and design agency acquired by the Company in 2003. Earlier in his career, Mr. Ashworth served as chief marketing officer for Fitch Worldwide, and served in brand leadership roles at Colgate-Palmolive, The Clorox Company and Levi Strauss & Co. Mr. Ashworth holds a BS from San Francisco State University and a MBA from the University of San Francisco.

In connection with his appointment, Mr. Ashworth will maintain an annual base salary of $350,000, which may be adjusted from time to time, and received a special grant of shares of restricted stock and options with an aggregate grant date value of approximately $150,000. Mr. Ashworth will continue to participate in the Company's existing annual and long-term incentive programs, including opportunities to receive cash-based performance awards and equity awards as may be granted from time-to-time under the Company's incentive plan. Mr. Ashworth also received a relocation bonus and other amounts associated with his relocation to the Chicago area. As part of the terms of his relocation, if the Company terminates Mr. Ashworth's employment for reasons other than for cause, the Company will pay for his standard relocation expenses back to the San Francisco, California area, provide a severance amount equal to his annual base salary and provide reimbursement of COBRA coverage expenses for a period of 12 months.