-----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, CLhnqHho5lEoAhgc4oMxtWCOvxJQKuI0sUFrubJt4hvYUODtYRPUpoTZD7Z/F9yq MPXaY/11s/x/DMBP9PlkNw== 0001104659-07-002592.txt : 20070116 0001104659-07-002592.hdr.sgml : 20070115 20070116135437 ACCESSION NUMBER: 0001104659-07-002592 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20070109 ITEM INFORMATION: Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers FILED AS OF DATE: 20070116 DATE AS OF CHANGE: 20070116 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SPIRIT FINANCE CORP CENTRAL INDEX KEY: 0001277406 STANDARD INDUSTRIAL CLASSIFICATION: REAL ESTATE INVESTMENT TRUSTS [6798] IRS NUMBER: 200175773 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-32386 FILM NUMBER: 07531504 BUSINESS ADDRESS: STREET 1: 14631 N. SCOTTSDALE ROAD STREET 2: SUITE 200 CITY: SCOTTSDALE STATE: AZ ZIP: 85254 BUSINESS PHONE: 4806060820 MAIL ADDRESS: STREET 1: 14631 N. SCOTTSDALE ROAD STREET 2: SUITE 200 CITY: SCOTTSDALE STATE: AZ ZIP: 85254 8-K 1 a07-1880_18k.htm CURRENT REPORT OF MATERIAL EVENTS OR CORPORATE CHANGES

 

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:  January 9, 2007

SPIRIT FINANCE CORPORATION

(Exact name of registrant as specified in its charter)

Maryland

 

01-32386

 

20-0175773

(State or other jurisdiction of
incorporation)

 

(Commission
File Number)

 

(IRS Employer
Identification Number)

 

14631 N. Scottsdale Road, Suite 200
Scottsdale, Arizona 85254

(Address of Principal Executive Offices) (Zip Code)

 

Registrant’s telephone number, including area code: (480) 606-0820

 

None

(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:

o  Written communications pursuant to Rule 425 under the Securities Act

o  Soliciting material pursuant to Rule 14a-12 under the Exchange Act

o  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act

o  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act

 



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

On January 9, 2007, the Compensation Committee (the “Committee”) of the Board of Directors of Spirit Finance Corporation (the “Company”) awarded performance bonuses for the 2006 fiscal year and increased the base salaries for the 2007 fiscal year for each of our executive officers (the “Named Executives”) who was named in the Summary Compensation Table in the proxy statement for our 2006 annual meeting, which include our principal executive officer and principal financial officer.  These actions were taken by the Committee in accordance with the terms of the Amended and Restated Employment Agreements, dated as of October 16, 2006, between the Company and each of the Named Executives.  The Committee also granted a total of 440,219 shares of restricted common stock to these officers and other employees of the Company under the Company’s Amended and Restated 2003 Stock Option and Incentive Plan .  The 2007 base salaries, 2006 performance bonus awards and restricted stock grants for the Named Executives are shown in the table below.

Name

 

2007 Base Salary

 

2006 Performance Bonus

 

Number of Shares of
Restricted Stock Awarded (1)

 

Morton H. Fleischer
Chairman of the Board

 

 

$

450,000

 

 

 

$

562,500

 

 

 

101,135

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Christopher H. Volk
President and Chief Executive
Officer

 

 

$

500,000

 

 

 

$

600,000

 

 

 

109,225

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Catherine Long
Chief Financial Officer, Senior
Vice President and Treasurer

 

 

$

340,000

 

 

 

$

330,000

 

 

 

48,545

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Michael T. Bennett
Senior Vice President –
Operations, Chief Compliance
Officer and Secretary

 

 

$

310,000

 

 

 

$

302,500

 

 

 

36,410

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Jeffrey M. Fleischer
Senior Vice President –
Acquisitions, Assistant
Secretary and Assistant
Treasurer

 

 

$

310,000

 

 

 

$

302,500

 

 

 

36,410

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gregg A. Seibert
Senior Vice President –
Underwriting, Assistant
Secretary and Assistant
Treasurer

 

 

$

310,000

 

 

 

$

302,500

 

 

 

36,410

 

 

 

(1)  The restricted shares awarded to the Named Executives vest ratably over a five year period.

 

2



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.

SPIRIT FINANCE CORPORATION

 

 

 

Date: January 16, 2007

By:

/s/ Catherine Long

 

Catherine Long

 

Chief Financial Officer

 

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