-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, EOy0Lb8IqkHS7W5S28gYpn4RkfsxHSYE/978e7wfVCkIbeT/mqOFKmojhVfuNP4B Dd2p2uk8L4+8TBbd6TbJnA== 0001116679-07-001601.txt : 20070612 0001116679-07-001601.hdr.sgml : 20070612 20070612170417 ACCESSION NUMBER: 0001116679-07-001601 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20070608 ITEM INFORMATION: Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers FILED AS OF DATE: 20070612 DATE AS OF CHANGE: 20070612 FILER: COMPANY DATA: COMPANY CONFORMED NAME: FAIRPOINT COMMUNICATIONS INC CENTRAL INDEX KEY: 0001062613 STANDARD INDUSTRIAL CLASSIFICATION: TELEPHONE COMMUNICATIONS (NO RADIO TELEPHONE) [4813] IRS NUMBER: 133725229 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-32408 FILM NUMBER: 07915548 BUSINESS ADDRESS: STREET 1: 521 EAST MOREHEAD ST STREET 2: STE 250 CITY: CHARLOTTE STATE: NC ZIP: 28202 BUSINESS PHONE: 7043448150 FORMER COMPANY: FORMER CONFORMED NAME: MJD COMMUNICATIONS INC DATE OF NAME CHANGE: 19980527 8-K 1 fair8k-061207.htm

 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

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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)   June 8, 2007    

 

FairPoint Communications, Inc.

 

 

(Exact name of registrant as specified in its charter)

 

Delaware

 

333-56365

 

13-3725229

(State or other jurisdiction of incorporation)

 

(Commission File Number)

 

(IRS Employer Identification No.)

 

521 East Morehead Street,

Suite 250,

Charlotte, North Carolina  

 

 

28202

 

 

(Address of principal executive offices)

 

(Zip Code)

 

Registrant’s telephone number, including area code

(704) 344-8150

 

 

N/A

 

 

(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))

 

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

 

On June 8, 2007, FairPoint Communications, Inc. (the “Company”) established the 2007 target bonus and related performance goals for Patrick T. Hogan, the Company’s Senior Vice President and Controller, under the FairPoint Communications, Inc. Annual Incentive Plan (the “Incentive Plan”).

 

Mr. Hogan is entitled to a target bonus of up to 40% of his pro-rated 2007 annual base salary. The target bonus for Mr. Hogan will be based on the following performance criteria (weighted as indicated): (i) 50% - designing an accounting organization to support the Company’s acquisition of Verizon Communications Inc.’s local exchange assets in Maine, New Hampshire and Vermont (the “Acquisition”) and to continue to support the Company’s existing operations and participating on the Company’s transition team and with Capgemini U.S. LLC to have certain systems in place, as necessary, by December 31, 2007 to support the Acquisition; (ii) 20% - the Company achieving a specified Adjusted EBITDA target for 2007 and managing Acquisition transaction expenses to budget; (iii) 20% - completing the year end budget process for the Company’s existing operations and operating benchmarks for the acquired business no later than October 15, 2007; and (iv) 10% - achieving regular monthly/quarterly timeliness of financial statements and management reports.

 

The Compensation Committee of the Company’s Board of Directors, in its sole discretion, will determine whether or not individual performance goals have been satisfied.

 

Any bonus award is subject to the terms of the Incentive Plan.

 

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.

 

 

FAIRPOINT COMMUNICATIONS, INC.

 

 

 

By:

/s/ John P. Crowley

 

Name:

John P. Crowley

 

Title:

Executive Vice President and

 

Chief Financial Officer

 

 

Date: June 12, 2007

 

 

 

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