-----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, ExqZFoKGPyArJlXzeo64IjEQ21shBatPljJq8mvV0utpMkfhD/1jG8c+HLjWl1IP 3pmGj1Z1ZJpNaOOBDYUF7Q== 0001104659-06-014642.txt : 20060307 0001104659-06-014642.hdr.sgml : 20060307 20060307163007 ACCESSION NUMBER: 0001104659-06-014642 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20060307 ITEM INFORMATION: Other Events FILED AS OF DATE: 20060307 DATE AS OF CHANGE: 20060307 FILER: COMPANY DATA: COMPANY CONFORMED NAME: INTERNATIONAL BUSINESS MACHINES CORP CENTRAL INDEX KEY: 0000051143 STANDARD INDUSTRIAL CLASSIFICATION: COMPUTER & OFFICE EQUIPMENT [3570] IRS NUMBER: 130871985 STATE OF INCORPORATION: NY FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-02360 FILM NUMBER: 06670476 BUSINESS ADDRESS: STREET 1: 1 NEW ORCHARD ROAD CITY: ARMONK STATE: NY ZIP: 10504 BUSINESS PHONE: 9144991900 MAIL ADDRESS: STREET 1: 1 NEW ORCHARD RD CITY: ARMONK STATE: NY ZIP: 10504 8-K 1 a06-5664_38k.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:  March 7, 2006

(Date of earliest event reported)

 

INTERNATIONAL BUSINESS MACHINES CORPORATION

(Exact name of registrant as specified in its charter)

 

New York

 

1-2360

 

13-0871985

(State of Incorporation)

 

(Commission File Number)

 

(IRS employer Identification No.)

 

 

 

 

 

ARMONK, NEW YORK

 

10504

(Address of principal executive offices)

 

(Zip Code)

 

914-499-1900

(Registrant’s telephone number)

 

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 (17 CFR 230.425)

 

 

 

o

 

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

 

 

o

 

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

 

 

o

 

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 


 

Item 8.01 (Other Events)

 

The following are 2006 compensation actions communicated to the Company’s named executive officers.

 

 

 

Cash

 

Long-Term Incentive Awards

 

 

 

2006 Salary
Rate
(effective
June 1, 2006)

 

2006
Annual
Incentive
Target(1)

 

Stock Options(2)

 

Restricted
Stock
Units(5)

 

Performance
Share Units(5)

 

Premium-
Priced
Options(3)

 

Buy-First
Options(4)

S. J. Palmisano

 

$

1,800,000

 

$

5,000,000

 

$

1,889,500

 

$

1,552,500

 

N/A

 

$

7,558,000

 

N. M. Donofrio

 

$

780,000

 

$

1,055,000

 

$

580,000

 

$

363,000

 

$

870,000

 

$

1,450,000

 

D. T. Elix

 

$

775,000

 

$

1,045,000

 

$

580,000

 

$

226,000

 

$

870,000

 

$

1,450,000

 

W. M. Zeitler

 

$

690,000

 

$

935,000

 

$

580,000

 

N/A

 

$

870,000

 

$

1,450,000

 

M. Loughridge

 

$

680,000

 

$

920,000

 

$

600,000

 

$

205,000

 

$

900,000

(6)

$

1,500,000

 

 

(1)   In addition, each of these officers other than Mr. Palmisano is eligible to receive an annual teaming incentive ranging from $0 - $250,000.

(2)   Stock options will be granted on May 8, 2006.  The actual number of options granted on this date will be determined by dividing the value shown above by a predetermined, formulaic Planning Price and the respective Black-Scholes option valuation factor.

(3)   The exercise price of premium-priced options will be 10% above the average of the high/low market price of the Company’s stock on the date of grant.

(4)   Buy-First Options are granted to officers who elected to invest a portion of their annual incentive payout for performance year 2005 in the IBM stock fund alternative of the Company’s Executive Deferred Compensation Plan.  The exercise price of these options will be the average high/low market price of the Company’s stock on the date of grant.

(5)   Restricted stock units and performance share units will be granted on May 8, 2006.  The number of units granted on this date will be determined by dividing the value shown above by the Planning Price.

(6)   In addition, on March 7, 2006, Mr. Loughridge received an award of 17,648 special restricted stock units.

 

IBM’s web site (www.ibm.com) contains a significant amount of information about IBM, including financial and other information for investors (www.ibm.com/investor/).  IBM encourages investors to visit its various web sites from time to time, as information is updated and new information is posted.

 

2


 

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.

 

 

Date: March 7, 2006

 

 

 

 

 

 

 

By:

 /s/ Andrew Bonzani

 

 

 

(Andrew Bonzani)

 

 

 

Assistant Secretary &

 

 

 

Associate General Counsel

 

 

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