-----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, IzyMgQ28UeUyDie0dfeQbIdBR3GhROg0VSvH9PK+ZQRtrgiDRIz4cLJ2MB6npSba r29DkdUgpbiYEZpl3GFciw== 0001144204-08-010472.txt : 20080219 0001144204-08-010472.hdr.sgml : 20080218 20080219154057 ACCESSION NUMBER: 0001144204-08-010472 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20080213 ITEM INFORMATION: Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers FILED AS OF DATE: 20080219 DATE AS OF CHANGE: 20080219 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Point.360 CENTRAL INDEX KEY: 0001398797 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-ALLIED TO MOTION PICTURE PRODUCTION [7819] IRS NUMBER: 000000000 STATE OF INCORPORATION: CA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-33468 FILM NUMBER: 08626464 BUSINESS ADDRESS: STREET 1: 2777 NORTH ONATRIO STREET CITY: BURBANK STATE: CA ZIP: 91504 BUSINESS PHONE: 818-565-1400 MAIL ADDRESS: STREET 1: 2777 NORTH ONATRIO STREET CITY: BURBANK STATE: CA ZIP: 91504 FORMER COMPANY: FORMER CONFORMED NAME: New 360 DATE OF NAME CHANGE: 20070507 8-K 1 v104334_8k.htm Unassociated Document
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: February 19, 2008
Date of Earliest Event Reported: February 13, 2008


 
Point.360
  
 
(Exact name of registrant as specified in its charter)
  

 
 
 
 
 
California
 
0-21917
  
01-0893376
(State or other jurisdiction
 
(Commission
 
(I.R.S. Employer
of incorporation)
 
File Number)
 
Identification No.)
         
2777 North Ontario Street
Burbank, California
      
91504
(Address of principal executive offices)
      
(Zip Code)

     
Registrant’s telephone number, including area code:
(818) 565-1400
  

 
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:
 
[__]
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 5.02. DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF CERTAIN OFFICERS; COMPENSATION ARRANGEMENTS OF CERTAIN OFFICERS.

Annual Salary Determinations

On February 13, 2008, our Compensation Committee completed its annual review of the compensation of the Chief Executive Officer and Chief Financial Officer. The Compensation Committee’s determinations are described below:

Haig S. Bagerdjian is employed as our President and Chief Executive Officer. Our Compensation Committee determined to increase Mr. Bagerdjian’s annual base salary to $400,000 effective January 1, 2008. The Compensation Committee also determined to grant Mr. Bagerdjian on February 13, 2008, a five-year, non-qualified option to purchase 400,000 shares of our common stock at a price of $1.79 per share, which equaled the market price for our common stock on that date.
 
Alan R. Steel is employed as our Executive Vice President, Finance and Administration and Chief Financial Officer. On February 13, 2008, the Compensation Committee determined to increase Mr. Steel’s salary to $260,000 effective January 1, 2008. The Compensation Committee also determined to grant Mr. Steel on February 13, 2008 a five-year option to purchase 175,000 shares of our common stock at a price of $1.79 per share, which equaled the market price of our common stock on that date.
 
The options granted to each of our executive officers as described above will vest in equal annual installments over four years commencing February 13, 2009, provided, in each case, that the executive remains in our continuous employ through such annual vesting periods.

 
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.
 
 
 
 
 
 
 
 
Point.360
 
 
 
 
 
February 19, 2008
 
By:
 
/s/ Alan R. Steel
 
 
 
 
Name:    Alan R. Steel
 
 
 
 
Title:      Executive Vice President
       
               Finance and Administration
       
               Chief Financial Officer

 
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