-----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, WiYiKlbaRw/YhhnIGQIk9jU/9lGIdoMG8WlZFi9fKjd8Jt5LlNGWBA6gERkUOwXI hnvPauTCXbQ5Edl6JuEjHw== 0000316709-05-000013.txt : 20050504 0000316709-05-000013.hdr.sgml : 20050504 20050504145403 ACCESSION NUMBER: 0000316709-05-000013 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20050428 ITEM INFORMATION: Entry into a Material Definitive Agreement FILED AS OF DATE: 20050504 DATE AS OF CHANGE: 20050504 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SCHWAB CHARLES CORP CENTRAL INDEX KEY: 0000316709 STANDARD INDUSTRIAL CLASSIFICATION: SECURITY BROKERS, DEALERS & FLOTATION COMPANIES [6211] IRS NUMBER: 943025021 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-09700 FILM NUMBER: 05798598 BUSINESS ADDRESS: STREET 1: 120 KEARNY STREET CITY: SAN FRANCISCO STATE: CA ZIP: 94104 BUSINESS PHONE: 4156277000 MAIL ADDRESS: STREET 1: 101 MONTGOMERY ST STREET 2: (SF120KNY-9) CITY: SAN FRANCISCO STATE: CA ZIP: 94104 8-K 1 body.txt ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT 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 April 28, 2005 Date of Report (Date of earliest event reported) THE CHARLES SCHWAB CORPORATION (Exact Name of Registrant as Specified in Its Charter) Delaware 1-9700 94-3025021 (State or other jurisdiction Commission (I.R.S. Employer of incorporation or organization) File Number Identification Number) 120 Kearny Street, San Francisco, CA 94108 (Address of principal executive offices and zip code) Registrant's telephone number, including area code: (415) 627-7000 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)) THE CHARLES SCHWAB CORPORATION Item 1.01 Entry into a Material Definitive Agreement On April 28, 2005, at a meeting of the Compensation Committee (Committee) of the Board of Directors of The Charles Schwab Corporation (Schwab), the Committee approved discretionary bonuses for two executive officers of Schwab, William L. Atwell and Walter Bettinger, in the amount of $47,004 and $35,262, respectively. These awards are in addition to amounts paid under the criteria of their respective performance matrices for the first quarter of 2005. The Committee also approved a supplemental compensation arrangement for Mr. Atwell in connection with his assumption of management of Schwab's Individual Investor Enterprise and Schwab's reclassification of Mr. Atwell's expenses during 2003, 2004 and the first quarter of 2005 for travel between residences he maintained on the East Coast and certain business locations (including travel on company aircraft), as personal, rather than business, expenses. The arrangement is composed of (1) a one-time tax reimbursement of up to $327,957; and (2) an ongoing, annual reimbursement allowance of up to $155,000 and related tax reimbursement of up to $125,000, in addition to Mr. Atwell's salary, for travel and related expenses between his residences on the East Coast and Schwab's various business locations. The annual allowance and related tax reimbursement will continue so long as Mr. Atwell manages the Individual Investor Enterprise or until the Committee approves a change to the arrangement. - 1 - THE CHARLES SCHWAB CORPORATION 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 thereunto duly authorized. THE CHARLES SCHWAB CORPORATION (Registrant) Date: May 4, 2005 /s/ Christopher V. Dodds ----------------- ---------------------------- Christopher V. Dodds Executive Vice President and Chief Financial Officer - 2 - -----END PRIVACY-ENHANCED MESSAGE-----