-----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, Cby4CY1FT8FJ+hE2kf/D9qS0kAnZ97ZcUfrESXqUu/uQI/YLphD/MZbmzZSGb4j8 oEkralIibtqSC3aM2zaS7Q== 0000039273-10-000002.txt : 20100115 0000039273-10-000002.hdr.sgml : 20100115 20100115164302 ACCESSION NUMBER: 0000039273-10-000002 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20100115 ITEM INFORMATION: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20100115 DATE AS OF CHANGE: 20100115 FILER: COMPANY DATA: COMPANY CONFORMED NAME: FROZEN FOOD EXPRESS INDUSTRIES INC CENTRAL INDEX KEY: 0000039273 STANDARD INDUSTRIAL CLASSIFICATION: TRUCKING (NO LOCAL) [4213] IRS NUMBER: 751301831 STATE OF INCORPORATION: TX FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-10006 FILM NUMBER: 10530827 BUSINESS ADDRESS: STREET 1: 1145 EMPIRE CENTRAL PLACE CITY: DALLAS STATE: TX ZIP: 75247 BUSINESS PHONE: 2146308090 8-K 1 form8k.htm FROZEN FOOD EXPRESS INDUSTRIES, INC. ANNOUNCES PROMOTION OF S. RUSSELL STUBBS AND JOHN T. HICKERSON form8k.htm
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)
January 15, 2010
 
 
(Exact Name of Registrant as Specified in its Charter)

 

Texas
(State or Other Jurisdiction of Incorporation)
  1-10006
COMMISSION FILE NUMBER
75-1301831
(IRS Employer Identification No.)
 
1145 Empire Central Place
Dallas, Texas 75247-4309
(Address of Principal Executive Offices)
  
 
 
(214) 630-8090
(Registrant's telephone number, including area code)
 
 
 
 
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:
r
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
r
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
r
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
r
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))



 

Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
 
 
(b) (c) On January 15, 2010, Frozen Food Express Industries, Inc. (the “Company”) announced that S. Russell Stubbs, age 46, has been promoted to President of the Company and FFE Transportation Services, Inc., a wholly-owned subsidiary of the company.  John T. Hickerson, age 58, has been promoted to Executive Vice President and Chief Operating Officer of the Company.  In connection with these promotions, Stoney M. Stubbs Jr. has resigned as President of the Company, effective January 15, 2010, but will continue in the role of Chairman and Chief Executive Officer.  A copy of the press release announcing the executive promotions is furnished, but not filed, with the Commission as Exhibit 99.1 to this Current Report on Form 8-K.
 
S. Russell Stubbs has been with the Company for twenty-four years in areas of increasing responsibility, most recently as Senior Vice President and Chief Operating Officer. Prior to his role as  Senior Vice President and Chief Operating Officer of the Company, Mr. Stubbs served as President of Lisa Motor Lines, a wholly-owned subsidiary of the company, for seven years.  Mr. Stubbs is the son of Stoney M. Stubbs, Jr., the Company’s Chairman and Chief Executive Officer.
 
Mr. Stubbs will continue under his current compensation arrangement, which includes an annual base salary of $267,323.00, subject to annual increases as determined from time to time by the Compensation Committee of the Company’s Board of Directors. Mr. Stubbs participates in the FFE Transportation Services, Inc. Amended 2005 Executive Incentive Bonus and Restricted Stock Plan (the “Executive Plan”).  Under the Executive Plan, Mr. Stubbs is eligible to receive (i) an annual cash bonus up to 125% of his base salary and (ii) shares of restricted stock of the Company in an amount up to 50% of the value of his cash bonus which vest in equal amounts over a period of three years.  Mr. Stubbs also participates in the FFE Transportation Services, Inc. Incentive Bonus Plan with a maximum payout of three weeks of his base salary.  Additionally, Mr. Stubbs currently receives a car allowance of $6,000 per year and is eligible for a holiday bonus equivalent to one week of his base salary.   Mr. Stubbs is also eligible to participate, in the Company’s broad-based employee benefits programs.
 
John T. Hickerson joined the Company in January of 2007 as President of American Eagle Lines and was most recently Senior Vice President and Chief Marketing Officer of the company, as well as President of FFE Logistics, Inc..  Mr. Hickerson has thirty-three years of industry experience and has been in senior leadership roles since 1986.
 
Mr. Hickerson will continue under his current compensation arrangement, which includes an annual base salary of $256,150.00, subject to annual increases as determined from time to time by the Compensation Committee of the Company’s Board of Directors. Mr. Hickerson participates in the FFE Transportation Services, Inc. Amended 2005 Executive Incentive Bonus and Restricted Stock Plan (the “Executive Plan”).  Under the Executive Plan, Mr. Hickerson is eligible to receive (i) an annual cash bonus up to 125% of his base salary and (ii) shares of restricted stock of the Company in an amount up to 50% of the value of his cash bonus which vest in equal amounts over a period of three years.  Mr. Hickerson also participates in the FFE Transportation Services, Inc. Incentive Bonus Plan with a maximum payout of three weeks of his base salary.  Additionally, Mr. Hickerson currently receives a car allowance of $6,000 per year and is eligible for a holiday bonus equivalent to one week of his base salary.  Mr. Hickerson is also reimbursed by the Company for club membership dues of $6,600 per annum.   Mr. Hickerson is also eligible to participate, in the Company’s broad-based employee benefits programs.
 
 
 
   

 

 
 



 
 
Financial Statements and Exhibits
(a)
Financial statements of business acquired.
 
Not applicable.
(b)
Pro-forma financial information.
 
Not applicable.
(c)
Shell company transactions.
 
Not applicable.
(d)
Exhibits
 
99.1   
Press Release regarding the announcement of promotions of S. Russell Stubbs to President and John T. Hickerson to Executive Vice President and Chief Operating Officer of Frozen Food Express Industries, Inc. dated January 15, 2010.




 
 
 


 

 
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.
 
 
FROZEN FOOD EXPRESS INDUSTRIES, INC.
 
 
Dated: January 15, 2010
 
By:
 
/s/ John R. McManama                             
   
John R. McManama  
Vice President and Interim Chief Financial Officer
(Principal Financial and Accounting Officer)
 
  





 
 
 


 

 
   
     
Exhibit Title
  
99.1
Press Release regarding the announcement of promotions of S. Russell Stubbs to President and John T. Hickerson to Executive Vice President and Chief Operating Officer of Frozen Food Express Industries, Inc. dated January 15, 2010.
  

 
 
 

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 Exhibit 99.1

 
FROZEN FOOD EXPRESS INDUSTRIES, INC. ANNOUNCES
PROMOTIONS OF S. RUSSELL STUBBS AS PRESIDENT
AND JOHN T. HICKERSON AS EXECUTIVE VICE PRESIDENT AND CHIEF OPERATING OFFICER

Dallas, January 15, 2010 (Globe Newswire) – Frozen Food Express Industries, Inc. (NASDAQ: FFEX) and FFE Transportation Services, Inc. today announced the promotion of two executives.
 
S. Russell Stubbs has been promoted to President of Frozen Food Express Industries, Inc., and FFE Transportation Services, Inc.  Russell has been with the FFE family of companies for twenty-four years in areas of increasing responsibility.  He was most recently Senior Vice President and Chief Operating Officer of FFE and moved into that position in 2006 after serving seven years as President of Lisa Motor Lines.
 
John T. Hickerson has been promoted to Executive Vice President and Chief Operating Officer reporting directly to Russell.  John joined the FFE organization in January of 2007 as President of American Eagle Lines and was most recently Senior Vice President and Chief Marketing Officer of FFE.  He has thirty-three years of industry experience and has been in senior leadership roles since 1986.  He will continue to serve in the capacity of President of FFE Logistics, Inc.
 
Stoney M. Stubbs Jr. will continue in the role of Chairman and Chief Executive Officer of FFE.
 
“This is just a part of a continued succession plan for the future of our organization”, said Mit Stubbs.   “Russell’s and John’s collective leadership efforts were instrumental in the 2008 turnaround we experienced, and those efforts carried through to 2009, which was the most challenging year our industry and our company ever faced.  Despite enduring operating losses throughout the year, the efforts of our management team led by Russell and John allowed us to continue to move forward, streamline our organization for the future, keep our customer base intact with high service levels, remain debt free, and preserve the integrity of our balance sheet for the long term.  I feel our company is ideally positioned to take maximum advantage of the marketplace as it begins to turn at whatever time that may be in the future.”
 
 
About FFEX
 
 
Frozen Food Express Industries, Inc. is one of the leading temperature-controlled truckload and less-than-truckload carriers in the United States with core operations in the transport of temperature-controlled products and perishable goods including food, health care and confectionery products. Service is offered in over-the-road and intermodal modes for temperature-controlled truckload and less-than-truckload, as well as dry truckload. We also provide brokerage/logistics services, as well as dedicated fleets to our customers. Additional information about Frozen Food Express Industries, Inc. can be found at the http://www.ffex.net. To join our email alert list, please click on the following link: http://financials.ffex.net/alerts.cfm. FFE's common stock is traded on the Nasdaq Global Select market under the symbol FFEX.
 
CONTACT:  Frozen Food Express Industries, Inc.
          Russell Stubbs, PRESIDENT
          John Hickerson, EVP and COO
          John McManama, VP and Interim CFO
          (214) 630-8090
          ir@ffex.net
 

 
 
 

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