0001052595-15-000020.txt : 20150929 0001052595-15-000020.hdr.sgml : 20150929 20150929163730 ACCESSION NUMBER: 0001052595-15-000020 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20150929 ITEM INFORMATION: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers FILED AS OF DATE: 20150929 DATE AS OF CHANGE: 20150929 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Red Lion Hotels CORP CENTRAL INDEX KEY: 0001052595 STANDARD INDUSTRIAL CLASSIFICATION: HOTELS & MOTELS [7011] IRS NUMBER: 911032187 STATE OF INCORPORATION: WA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-13957 FILM NUMBER: 151131201 BUSINESS ADDRESS: STREET 1: 201 W NORTH RIVER DRIVE STREET 2: SUITE 100 CITY: SPOKANE STATE: WA ZIP: 99201 BUSINESS PHONE: 5094596100 MAIL ADDRESS: STREET 1: 201 W NORTH RIVER DRIVE STREET 2: SUITE 100 CITY: SPOKANE STATE: WA ZIP: 99201 FORMER COMPANY: FORMER CONFORMED NAME: WESTCOAST HOSPITALITY CORP DATE OF NAME CHANGE: 20000214 FORMER COMPANY: FORMER CONFORMED NAME: CAVANAUGHS HOSPITALITY CORP DATE OF NAME CHANGE: 19980108 8-K 1 a9-2015earlybonuspayout8k.htm 8-K 8-K

SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
 
FORM 8-K
Current Report
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
September 29, 2015 (September 28, 2015)
Date of Report (Date of earliest event reported)
RED LION HOTELS CORPORATION
(Exact Name of Registrant as Specified in Charter)
 
 
 
 
 
Washington
 
001-13957
 
91-1032187
(State or Other Jurisdiction
 
(Commission file number)
 
(I.R.S. Employer
of Incorporation)
 
 
 
Identification No.)

201 W. North River Drive
Suite 100
Spokane, Washington 99201
(Address of Principal Executive Offices, Zip Code)
(509) 459-6100
(Registrant’s Telephone Number, Including Area Code)
 
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:
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))
 
 

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Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
(e)    On September 28, 2015, the Compensation Committee of our board of directors determined that the company’s results thus far in 2015 reflect substantial achievement of the executive officers’ individual, department and company goals under the 2015 RLHC Named Executive Officer Bonus Plan (the “Plan”). In recognition of that achievement, and subject to the terms and conditions set forth below, the Compensation Committee authorized and directed payment to each executive officer, on or about October 2, 2015, of an amount (the “Early Bonus Payment”) equal to twenty percent (20%) of the bonus he would receive for 2015 under the Plan, assuming all other criteria of the Plan were satisfied.
The Early Bonus Payments awarded to the executive officers are as follows:
Executive Officer
 
Early Bonus 
Payment

Gregory T. Mount
President and Chief Executive Officer
$58,388
James A. Bell
Executive Vice President, 
Chief Financial Officer
$32,669
Thomas L. McKeirnan
Executive Vice President, 
General Counsel and Secretary
$28,670
William J. Linehan
Executive Vice President, 
Chief Marketing Officer
$31,422
Harry G. Sladich
Executive Vice President
Hotel Operations and Sales
$26,119

The Compensation Committee also approved the following terms and conditions relating to the Early Bonus Payments:
(i)
The bonus for each executive officer under the Plan will be determined and paid in the first quarter of 2016 and will be reduced by the amount of his Early Bonus Payment.
(ii)
Executive officers must remain employed with the company through the bonus payout date in the first quarter of 2016. If prior to that date an executive officer voluntarily terminates his employment or we terminate him for cause, he will be required to repay his Early Bonus Payment. No repayment will be required if his employment terminates for any other reason.

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.

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Dated: September 29, 2015
RED LION HOTELS CORPORATION
 


 
 
By:
/s/ Thomas L. McKeirnan
 
 
 
Thomas L. McKeirnan
 
 
 
Executive Vice President,
General Counsel and Secretary
 
 


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