8-K 1 a08-20012_18k.htm 8-K

 

 

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) July 18, 2008

 

SPACEHAB, Incorporated

(Exact name of registrant as specified in its charter)

 

Washington

 

0-27206

 

91-1273737

(State or other jurisdiction

 

(Commission

 

(IRS Employer

of incorporation)

 

File Number)

 

Identification No.)

 

 

 

 

 

12130 State Highway 3, Building 1, Webster, Texas

 

77598

(Address of principal executive offices)

 

(Zip Code)

 

Registrant’s telephone number, including area code (713) 558-5000

 

 

(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 (see General Instruction A.2. below):

 

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))

 

 

 


 

Section 5 - Corporate Governance and Management

 

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

 

On July 18, 2008, the Compensation Committee of SPACEHAB, Incorporated approved fiscal year 2009 (which commenced July 1, 2008) cash and equity compensation adjustments and awards, including the following for named executive officers.

 

Named and Principal Position

 

Base 
Salary

 

Increase 
from Prior Year 
Salary

 

Stock 
Grant

 

Cash 
Bonus

 

Option 
Awards(3)

 

Thomas B. Pickens, III
Chief Executive Officer, Director, and Chairman

 

$

360,000

 

0

 

1,100,000

(1)

$

350,000

 

100,000

 

James D. Royston
President

 

$

210,000

 

16.7

%

200,000

(2)

$

0

 

75,000

 

Lance W. Lord
Chief Executive Officer of Astrotech Space Operations, Inc., and Director

 

$

175,000

 

New Position

 

50,000

(2)

$

0

 

87,500

 

Brian K. Harrington
Senior Vice President and Chief Financial Officer

 

$

225,000

 

0

 

150,000

(2)

$

0

 

50,000

 

 

(1)          Represents a grant of unrestricted stock.

(2)          Restricted stock vesting 50% on January 15, 2009, 25% on January 15, 2010, and 25% on January 15, 2011.

(3)          Options vest on January 15, 2009 and terminate on July 17, 2010.

 

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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.

 

 

SPACEHAB, Incorporated

 

 

 

 

Date: July 24, 2008

By:

/s/ Brian K. Harrington

 

 

Brian K. Harrington

 

 

Senior Vice President, Chief Financial Officer, Secretary and Treasurer

 

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