0000006885-13-000071.txt : 20130410 0000006885-13-000071.hdr.sgml : 20130410 20130410144819 ACCESSION NUMBER: 0000006885-13-000071 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20130404 ITEM INFORMATION: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers FILED AS OF DATE: 20130410 DATE AS OF CHANGE: 20130410 FILER: COMPANY DATA: COMPANY CONFORMED NAME: STAGE STORES INC CENTRAL INDEX KEY: 0000006885 STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-FAMILY CLOTHING STORES [5651] IRS NUMBER: 911826900 STATE OF INCORPORATION: NV FISCAL YEAR END: 0131 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-14035 FILM NUMBER: 13753495 BUSINESS ADDRESS: STREET 1: 10201 MAIN ST CITY: HOUSTON STATE: TX ZIP: 77025 BUSINESS PHONE: 7136675601 MAIL ADDRESS: STREET 1: 10201 MAIN STREET CITY: HOUSTON STATE: TX ZIP: 77025 FORMER COMPANY: FORMER CONFORMED NAME: APPAREL RETAILERS INC DATE OF NAME CHANGE: 19930908 FORMER COMPANY: FORMER CONFORMED NAME: TEXTILE DISTRIBUTORS INC DATE OF NAME CHANGE: 19690521 8-K 1 form8k_compensation.htm STAGE STORES, INC., FORM 8K

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

April 4, 2013
(Date of Report, Date of Earliest Event Reported)

Stage Stores, Inc.
(Exact Name of Registrant as Specified in Charter)

1-14035
(Commission File Number)

NEVADA
(State or Other Jurisdiction of Incorporation)
91-1826900
(I.R.S. Employer Identification No.)
   
10201 Main Street, Houston, Texas
(Address of Principal Executive Offices)
77025
(Zip Code)
 
(800) 579-2302
(Registrant's Telephone Number, Including Area Code)
 
Not Applicable
(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:
 
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 5.02
Departure of Directors or Principal Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
 
(e)         Compensatory Arrangements of Certain Officers
 
On April 4, 2013, the Compensation Committee of the Board of Directors of Stage Stores, Inc. (the "Company") recommended, and the Board of Directors approved, the parameters for the Company's 2013 Senior Executive Incentive Bonus Plan (the "2013 Bonus Plan") and considered and approved the annual cash incentive opportunities for our currently employed Named Executive Officers for the Company's 2013 fiscal year as set forth in the table below.
 
A "Pre-Tax Earnings Parameter" of the bonus formula is weighted to determine two-thirds (66.7%) of the year-end bonus amount earned.
 
A "Comparable Store Sales Parameter" of the bonus formula is weighted to determine one-third (33.3%) of the year-end bonus amount earned. The measurement is based on fiscal year-end comparable store sales percent change compared to the Company's 2013 Performance Group.
 
Under the 2013 Bonus Plan, the potential bonus payout, as a percentage of each currently employed Named Executive Officer's base salary at April 1, 2013, is as follows:
 
Executive/Title
  
Base Salary($)
    
Bonus Range % (1)
(Threshold/Target/Maximum)
    
Bonus Range $ (2)
(Threshold/Target/Maximum)
  
 
Michael L. Glazer
President and Chief Executive Officer
    
950,000
    
41.7-100-200
      
396,150-950,000-1,900,000
  
                           
Oded Shein
Executive Vice President, Chief Financial Officer
 370,000 20.8-50-100 76,960-185,000-370,000
    
Edward J. Record
Chief Operating Officer
    
620,000
    
29.2-70-140
      
181,040-434,000-868,000
  
                       
Steven P. Lawrence
Chief Merchandising Officer
    
620,000
    
29.2-70-140
      
181,040-434,000-868,000
  
                       
Michael M. Searles
President and Chief Operating Officer, South Hill Division (3)
    
450,000
    
25-60-120
      
112,500-270,000-540,000
  
_________________________
 
(1)
Percentage of base salary
 
(2)
Amount to be paid will depend upon the extent to which the Company achieves the Pre-Tax Earnings, Comparable Store Sales parameters established by the Board of Directors.  Actual bonus payments will be prorated for Pre-Tax Earnings results between the maximum and threshold levels.   In order to earn any portion of the Comparable Store Sales payout, the Company must achieve 75% of the Pre-Tax Earnings target level.
 
(3)
Due to the ongoing  consolidation of the Company's South Hill, Virginia regional operations into the Company's Houston, Texas corporate headquarters, which is expected to be completed during the Company's 2013 Fiscal year, Mr. Searles position will be eliminated and he will not be offered a position
 
 
at the Company's Houston headquarters.  However, Mr. Searles will be eligible to participate in the 2013 Bonus Plan on a pro-rata basis.
 
 
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.
 

   
 
STAGE STORES, INC.
   
April 10, 2013
/s/ Richard E. Stasyszen
    (Date)
Richard E. Stasyszen
 
Senior Vice President, Finance and Controller