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ALCS > SEC Filings for ALCS > Form 8-K on 8-Jul-2013All Recent SEC Filings

Show all filings for ALCO STORES INC

Form 8-K for ALCO STORES INC


8-Jul-2013

Change in Directors or Principal Officers, Regulation FD Disclosure


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

Under the Independent Director Compensation Policy (the "Policy") of ALCO Stores, Inc. (the "Company") each independent director of the Company shall be issued 5,000 stock options, and the Chairman of the Board of Directors shall be issued 7,500 stock options, on the last business day of June each calendar year. Therefore, on July 1, 2013, the Company entered into Non-Qualified Stock Options Agreements with Dennis E. Logue ("Logue"), Terrence M. Babilla ("Babilla"), and Lolan C. Mackey ("Mackey") to issue each of the preceding independent directors 5,000 stock options with a grant date of June 28, 2013. The Company's Compensation Committee had also approved the issuance of 25,000 additional stock options to the Company's Chairman for his extra ordinary services to the Company. Therefore, the Company entered into a Non-Qualified Stock Option Agreement with Royce Winsten ("Winsten"), the Chairman of the Company's Board of Directors, on July 1, 2013 to issue Winsten 32,500 stock options with a grant date of June 28, 2013. Each of the Non-Qualified Stock Option Agreements (collectively, the "Agreements") are incorporated into this Item 5.02 by reference.

The Agreements are subject to the terms and conditions of the Company's 2006 Non-Qualified Stock Option Plan for Non-Management Directors, as amended (the "Plan"). Under the terms of the Agreements, each Logue, Babilla and Mackey receives options to purchase 5,000 shares of the Company's common stock, and Winsten receives options to purchase 32,500 shares of the Company's common stock, at an exercise price of $11.10 per share. The Grant Date of the options is June 28, 2013. The aforementioned options vest in four equal annual installments beginning on June 28, 2014. The options will expire on June 28, 2018, subject to earlier termination or expiration in accordance with the terms of the Plan.



Item 7.01 Regulation FD Disclosure.

Attached as Exhibit 99.1, and incorporated into this Item 7.01 by reference, is a Non-Qualified Stock Option Agreement executed July 1, 2013 by the Company and Logue. Attached as Exhibit 99.2, and incorporated into this Item 7.01 by reference, is a Non-Qualified Stock Option Agreement executed July 1, 2013 by the Company and Babilla. Attached as Exhibit 99.3, and incorporated into this Item 7.01 by reference, is a Non-Qualified Stock Option Agreement executed July 1, 2013 by the Company and Mackey. Attached as Exhibit 99.4, and incorporated into this Item 7.01 by reference, is a Non-Qualified Stock Option Agreement executed July 1, 2013 by the Company and Winsten.

Item 9.01. Exhibits.

(d) Exhibits

99.1 Non-Qualified Stock Option Agreement executed on July 1, 2013 by the Company and Logue.

99.2 Non-Qualified Stock Option Agreement executed July 1, 2013 by the Company and Babilla.

99.3 Non-Qualified Stock Option Agreement executed July 1, 2013 by the Company and Mackey.

99.4 Non-Qualified Stock Option Agreement executed July 1, 2013 by the Company and Winsten.


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