-----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, R7jFDQ4zJ1XwtvLU2aKccQOgkhAyAo8h9gGcPO1wfPEdkBRz0uffrnDQ9yQMqvQY mSsxDEkDA4QcjZyKNJ6Mzw== 0001193125-07-045505.txt : 20070302 0001193125-07-045505.hdr.sgml : 20070302 20070302170248 ACCESSION NUMBER: 0001193125-07-045505 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20070227 ITEM INFORMATION: Cost Associated with Exit or Disposal Activities ITEM INFORMATION: Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers FILED AS OF DATE: 20070302 DATE AS OF CHANGE: 20070302 FILER: COMPANY DATA: COMPANY CONFORMED NAME: HUTTIG BUILDING PRODUCTS INC CENTRAL INDEX KEY: 0001093082 STANDARD INDUSTRIAL CLASSIFICATION: WHOLESALE-LUMBER & OTHER CONSTRUCTION MATERIALS [5030] IRS NUMBER: 430334550 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-14982 FILM NUMBER: 07668599 BUSINESS ADDRESS: STREET 1: 555 MARYVILLE UNIVERSITY DRIVE STREET 2: SUITE 240 CITY: ST LOUIS STATE: MO ZIP: 63141 BUSINESS PHONE: 314-216-2600 MAIL ADDRESS: STREET 1: PO BOX 1041 CITY: CHESTERFIELD STATE: MO ZIP: 63006-1041 8-K 1 d8k.htm FORM 8-K Form 8-K

UNITED STATES

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

Date of Report (Date of earliest event reported): February 27, 2007

 


Huttig Building Products, Inc.

(Exact name of registrant as specified in its charter)

 


 

Delaware   001-14982   43-0334550

(State or other jurisdiction

of incorporation)

  (Commission File Number)  

(IRS Employer

Identification No.)

 

555 Maryville University Dr., Suite 240, St. Louis, MO   63141
(Address of principal executive offices)   (Zip Code)

Registrant’s telephone number, including area code (314) 216-2600

Former name or former address, if changed since last report: Not Applicable

 


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):

 

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 



Item 2.05 Costs Associated with Exit or Disposal Activities.

On February 28, 2007, the Company informed its employees of its decision to close its distribution facility in Dothan, Alabama. This action is being taken as part of the Company’s effort to appropriately adjust the size of its infrastructure in light of the market conditions for new residential construction. The Company expects this action to be completed in the first half of 2007.

The Company expects to incur between $0.5 million and $0.7 million in operating charges related to this action during the first half of 2007, including between $0.4 million and $0.6 million for facility exit costs, comprised of remaining facility lease rentals, asset write-offs and transfer costs and approximately $0.1 million for employee severance costs. The Company expects approximately $0.2 million of these charges to be cash payments, including the remaining rentals to be paid out over the term of the facility lease in 2007.

 

Item 5.02 Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers

Compensation of Certain Named Executive Officers

On February 27, 2007, the Management Organization and Compensation Committee of the Board of Directors of Huttig Building Products, Inc. approved annual base salary increases for certain named executive officers as set forth in the table below.

 

Named Executive Officer

  

Increased

Base Salary

  

Effective Date

of Increase

David L. Fleisher

   $300,000    April 1, 2007

Brian D. Robinson

   $199,500    October 1, 2007

Darlene Schroeder

   $185,000    April 1, 2007

This Current Report on Form 8-K contains forward-looking information as defined by the Private Securities Litigation Reform Act of 1995. Any statements contained in this Current Report on Form 8-K, except to the extent that they contain historical facts, are forward-looking, including statements regarding the expected timing and amount of charges, including the timing and amount of the cash portion of such charges, that the Company will incur in connection with its facility closure. Such forward-looking statements involve estimates, assumptions, judgments and uncertainties. There are known and unknown factors that could cause actual results or outcomes to differ materially from those addressed in the forward-looking information. Such known factors are detailed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2005 and in the Company’s Quarterly Reports on Form 10-Q for the quarters ended March 31, 2006, June 30, 2006 and September 30, 2006 filed with the Securities and Exchange Commission, and in other reports filed by the Company with the Securities and Exchange Commission from time to time.


SIGNATURE

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.

 

     Huttig Building Products, Inc.
   (Registrant)
Date: March 2, 2007   
  

/s/ David L. Fleisher

   David L. Fleisher
   Vice President, Chief Financial Officer and Secretary
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