8-K

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 (Date of earliest event reported): June 9, 2010

HYATT HOTELS CORPORATION

(Exact name of registrant as specified in its charter)

Delaware	001-34521	20-1480589
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)

71 South Wacker Drive, 12th Floor, Chicago, IL	60606
(Address of principal executive offices)	(Zip Code)

Registrant’s telephone number, including area code: (312) 750-1234

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:

¨ 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 1.01: ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT.

On June 9, 2010, the Compensation Committee of the board of directors (the “Board”) of Hyatt Hotels Corporation (the “Company”) approved an amendment to the Company’s Non-Employee Director Compensation Program (the “Program”) to modify the stock ownership guidelines set forth therein for non-employee directors. This amendment was made to conform the stock ownership guidelines set forth in the Program with the stock ownership guidelines for non-management directors set forth in the Company’s Corporate Governance Guidelines.

The Company’s Corporate Governance Guidelines provide that each non-management director must accumulate and own, directly or indirectly, at least $150,000 worth of the Company’s common stock (or common stock equivalents held under the Deferred Compensation Plan for directors) at all times during his or her tenure on the Board. Non-employee directors serving at the time of the Company’s November 2009 initial public offering (“IPO”) have up to three (3) years to meet this ownership requirement. Any new non-management directors following the IPO will have up to five (5) years to meet this ownership requirement. If the market value of a non-management director’s stock falls below $150,000 (following the relevant accumulation period), such director will not be permitted to sell any of the Company’s common stock until the market value once again exceeds $150,000 (other than in connection with a change of control transaction).

This description of the Program is qualified in its entirety by reference to the complete text of the Amended and Restated Summary of Non-Employee Director Compensation (June 2010) attached as Exhibit 10.1 to this Form 8-K and incorporated herein by reference.

ITEM 5.07: SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.

The Company’s 2010 annual meeting of stockholders (the “Annual Meeting”) was held on June 9, 2010. A summary of the matters voted on at the Annual Meeting by the Company’s stockholders is set forth below.

1. The Company’s stockholders elected each of the following directors to serve until the Company’s 2013 annual meeting of stockholders and until their respective successors have been duly elected and qualified by the following votes:

NOMINEE	FOR	WITHHELD	BROKER NON-VOTES
Bernard W. Aronson	1,328,729,262	603,652	985,148
Mark S. Hoplamazian	1,317,226,773	12,106,141	985,148
Penny Pritzker	1,316,391,224	12,941,690	985,148
Michael A. Rocca	1,328,891,020	441,894	985,148

2. The Company’s stockholders ratified the appointment of Deloitte & Touche LLP to serve as the Company’s independent registered public accounting firm for fiscal year 2010 by the following votes:

FOR	AGAINST	ABSTAIN	BROKER NON-VOTES
1,330,183,934	127,351	6,777	0

3. The Company’s stockholders approved the Hyatt Hotels Corporation Employee Stock Purchase Plan by the following votes:

FOR	AGAINST	ABSTAIN	BROKER NON-VOTES
1,329,294,362	10,965	27,587	985,148

ITEM 9.01: FINANCIAL STATEMENTS AND EXHIBITS.

(d) Exhibits.

10.1	Hyatt Hotels Corporation Amended and Restated Summary of Non-Employee Director Compensation (June 2010)
10.2	Hyatt Hotels Corporation Employee Stock Purchase Plan (incorporated by reference to Appendix A to the Company’s Definitive Proxy Statement on Schedule 14A (File No. 001-34521) filed with the Securities and Exchange Commission on April 21, 2010)

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.

Hyatt Hotels Corporation
By:	/s/ Harmit J. Singh
	Harmit J. Singh
	Chief Financial Officer

Date: June 11, 2010

INDEX TO EXHIBITS

Exhibit Number	Description
10.1	Hyatt Hotels Corporation Amended and Restated Summary of Non-Employee Director Compensation (June 2010)
10.2	Hyatt Hotels Corporation Employee Stock Purchase Plan (incorporated by reference to Appendix A to the Company’s Definitive Proxy Statement on Schedule 14A (File No. 001-34521) filed with the Securities and Exchange Commission on April 21, 2010)

EX-10.1

Exhibit 10.1

Hyatt Hotels Corporation

Amended and Restated Summary of Non-Employee Director Compensation

(June 2010)

All non-employee Directors of Hyatt Hotels Corporation (“HHC”) will be entitled to receive the following compensation pursuant to the non-Employee Director Compensation Program (the “Program”):

I. BOARD RETAINERS AND COMMITTEE FEES:

Members will be entitled to both annual retainers for service on the board of directors of HHC (the “Board”) as well as service as members on any committee of the Board¹ in the following amounts:

Board Annual Retainers:

• $50,000 annual cash retainer (“Annual Fee”). The Annual Fee will be paid on a quarterly basis, if the Director has served the entire fiscal quarter. Directors will receive a check for $12,500 after the end of each fiscal quarter, but may elect to receive all or a portion of the Annual Fee in shares of HHC Class A Common Stock (“Stock”). If shares of Stock are selected, the date of grant will be the penultimate business day of the fiscal quarter and will be considered delivered on such date. The Stock will be reflected in the brokerage account established by HHC for the Director.

• $75,000 payable in the form of shares of Stock (“Annual Equity Retainer”). The Annual Equity Retainer will be paid on a quarterly basis, if the Director has served the entire fiscal quarter. Directors will receive the Annual Equity Retainer equal to the value of $18,750 in Stock at the end of each fiscal quarter. The number of shares of Stock issued under the Annual Equity Retainer for each fiscal quarter grant will be determined using the price of Stock as of the penultimate business day of the fiscal quarter and will be considered delivered on such date.

• Newly elected Directors will receive $75,000 payable in the form of Stock (“Initial Equity Retainer”). The Initial Equity Retainer will be payable on the date of election or appointment as a Director equal to the value of $75,000 in Stock.²

Committee Retainers:

• $3,000 annual cash retainer for members of Committees other than Audit Committee.

• $9,000 annual cash retainer for members of Audit Committee.

¹ Committee retainers and fees will be paid in cash only and Directors will not have the right to elect to receive Stock or RSUs in lieu of cash.

² Note: The deferral feature was removed in July of 2009 and the payment date for the Initial Equity Retainer was changed from the 13^th month following date of election or appointment to the date of election or appointment.

Committee Chair Retainers:³

• $25,000 annual cash retainer for Audit Committee Chair.

• $12,000 annual cash retainer for Compensation Committee Chair.

• $6,000 annual cash retainer for all other Committee Chairs.

Committee Meeting Fees (in person or telephonic):⁴

• $1,200 cash per meeting.

II. DIRECTORS DEFERRED COMPENSATION PLAN

• Directors may defer receipt of all or any portion of their Annual Fee or Annual Equity Retainer (collectively the “Retainer”) pursuant to a Directors’ Deferred Compensation Plan (the “Deferred Plan”).

• Amounts deferred under the Deferred Plan will be denominated in restricted stock units (each an “RSU”), which entitles the Director the right to receive shares of Stock (not subject to restrictions other than the minimum ownership requirements described below) at a set time in the future.

• RSUs do not entitle the Director to rights as a stockholder. Stock will be issued and delivered in settlement of the RSU automatically on the earlier of the Director’s termination of service as a Director for any reason, or a change of control (within the meaning of the current LTIP). However, at the time of the election to receive RSUs, a Director may elect to have the Stock delivered in settlement of the RSU in the fifth calendar year after deferral.⁵

• RSUs will carry dividend equivalent rights for each RSU. In the event that HHC pays dividends, dividend equivalent rights entitle the Director to receive dividends on the RSUs as if they were actually issued shares of Stock.

³ Committee Chairs receive only the Committee Chair retainer and not the committee retainer. The Committee Chair Retainers and Committee Retainers will be paid in quarterly installments on the penultimate business day of the quarter based on the Committee Chair’s and member of Committee’s service for such quarter.

⁴ Committee meeting fees will be paid for attending entire meetings (with appropriate exceptions as determined by the Committee Chair). Committee meeting fees will not be paid to ex-officio members of a committee.

⁵ Delivery of the Stock cannot be accelerated other than on termination as a Director or Change in Control. Delivery of the Stock may be deferred beyond five years, but such deferral must be for at least an additional five years and the election to delay delivery must be made at least 12 months prior to the year in which the Stock was otherwise to be delivered.

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III. OTHER TERMS

• Deferral Elections: To the extent a Director desires to defer receipt of all or any part of the Retainers under the Deferred Plan, such election must be made on or prior to December 31 of the prior calendar year. Once an election to defer is made, it may be revoked and changed only for future years.

• Calculation of Number of Shares of Stock or RSUs: The number of shares of Stock or shares subject to RSUs to be delivered to a Director will be calculated by dividing the dollar amount of the relevant entitlement by the fair market value of a share of Stock at the closing price of Stock on the date of the grant. Only whole shares of Stock or RSU’s will be issued and the remaining partial value for each fiscal quarter will be accumulated and allocated to the next fiscal quarter, however, in the last fiscal quarter, the value of the grant will be rounded up to the next whole share of Stock.

For purposes of calculating shares of Stock deliverable in payment of the Initial Equity Retainer, the fair market value shall be determined on the date the Director is elected/appointed to the Board of Directors. Only whole shares of Stock will be issued and the value of the Initial Equity Retainer will be rounded up to equal the next whole share of Stock.

• Vesting: All shares of Stock or RSUs will be immediately vested.

• Minimum Required Ownership: Each non-employee Director must accumulate and own, directly or indirectly, at least $150,000 worth of the Company’s common stock (or common stock equivalents held under the Deferred Plan) at all times during his or her tenure on the Board; provided, that non-employee Directors will have up to three (3) years following the Company’s initial public offering (“IPO”) of its Class A common stock to meet this ownership requirement and any new non-employee Directors following the Company’s IPO will have up to five (5) years of service on the Board to meet this ownership requirement. If the market value of a Director’s stock should fall below $150,000 (following the relevant accumulation period), such Director shall not be permitted to sell any of the Company’s common stock until the market value shall once again exceed $150,000 (other than in connection with a change of control transaction).

IV. TAX TREATMENT OF STOCK AND RSUs:

• Directors will be taxed as ordinary income on the value of the Stock on the date the Stock is issued and delivered. The capital gain and Rule 144 holding periods both begin on such date.

• Directors will not be taxed on RSUs until the actual shares are issued and delivered. At that time, the value of the shares delivered will be taxable as ordinary income. For purposes of Rule 144 and capital gain tax rules, the relevant “holding period” does not begin until the shares (as opposed to RSUs) are actually issued.

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