-----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, RKZA6TRfnrvi8VV8/3tu9rJHCMKdSjiBuqacBh1EftbU9JaJZMYOaIkkk7Waq8I2 NZWElmLC4ImV94eErNlkkQ== 0000950144-05-012825.txt : 20051216 0000950144-05-012825.hdr.sgml : 20051216 20051216073128 ACCESSION NUMBER: 0000950144-05-012825 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20051214 ITEM INFORMATION: Entry into a Material Definitive Agreement ITEM INFORMATION: Regulation FD Disclosure FILED AS OF DATE: 20051216 DATE AS OF CHANGE: 20051216 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BANCORPSOUTH INC CENTRAL INDEX KEY: 0000701853 STANDARD INDUSTRIAL CLASSIFICATION: STATE COMMERCIAL BANKS [6022] IRS NUMBER: 640659571 STATE OF INCORPORATION: MS FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-12991 FILM NUMBER: 051268245 BUSINESS ADDRESS: STREET 1: ONE MISSISSIPPI PL CITY: TUPELO STATE: MS ZIP: 38804 BUSINESS PHONE: 6626802000 MAIL ADDRESS: STREET 1: PO BOX 789 CITY: TUPELO STATE: MS ZIP: 38802-0789 FORMER COMPANY: FORMER CONFORMED NAME: BANCORP OF MISSISSIPPI INC DATE OF NAME CHANGE: 19920703 8-K 1 g98856e8vk.htm BANCORPSOUTH, INC. BancorpSouth, Inc.
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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): December 16, 2005 (December 14, 2005)
 
BANCORPSOUTH, INC.
(Exact name of registrant as specified in its charter)
         
Mississippi   1-12991   64-0659571
         
(State or other jurisdiction   (Commission File Number)   (IRS Employer
of incorporation)       Identification No.)
     
One Mississippi Plaza        
201 South Spring Street        
Tupelo, Mississippi   38804
     
(Address of principal executive offices)   (Zip Code)
Registrant’s telephone number, including area code (662) 680-2000
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 (see General Instruction A.2 below):
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))
 
 

 

TABLE OF CONTENTS

      Item 1.01. Entry into a Material Definitive Agreement.
      Item 7.01. Regulation FD Disclosure.
SIGNATURES

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Section 1 — Registrant’s Business and Operations
      Item 1.01. Entry into a Material Definitive Agreement.
     On December 14, 2005, our Board of Directors approved the accelerated vesting of certain unvested stock options previously awarded under our BancorpSouth, Inc. 1994 Stock Incentive Plan. As a result of the acceleration, 845,333 stock options with a range of exercise prices between $23.19 and $24.03 per share became exercisable on December 14, 2005. Aside from the acceleration of the vesting date, the terms and conditions of the stock option agreements governing the underlying stock options remain unchanged.
     The $23.19 exercise price was selected because it was higher than the closing price of shares of our common stock on the New York Stock Exchange on December 14, 2005, which was $23.02. The accelerated options represent approximately 27.3% of the total of all outstanding options to purchase our common stock. Of the 845,333 stock options which became exercisable as a result of the acceleration of vesting, 388,999 were held by certain of our named executive officers. The following table sets forth the grant date, the number of options accelerated and the exercise prices of each such option held by our executive officers.
                                 
                    Number of    
Name   Position   Grant Date   Accelerated Options   Exercise Price
Aubrey B. Patterson
   Chairman of the Board and     11/1/2003       25,000       23.51  
 
   Chief Executive Office     11/1/2004       50,000       24.03  
 
             12/1/2005       80,000       23.19  
 
                                
James V. Kelley
   President and     11/1/2003       10,667       23.51  
 
   Chief Operating Officer     11/1/2004       21,333       24.03  
 
             12/1/2005       35,000       23.19  
 
                                
L. Nash Allen, Jr.
   Treasurer and     11/1/2003       4,000       23.51  
 
   Chief Financial Officer     11/1/2004       7,333       24.03  
 
             12/1/2005       12,000       23.19  
 
                                
W. Gregg Cowsert
   Executive Vice President     11/1/2003       4,333       23.51  
 
             11/1/2004       9,333       24.03  
 
             12/1/2005       14,000       23.19  
 
                                
Michael L. Sappington
   Executive Vice President     11/1/2003       4,333       23.51  
 
             11/1/2004       8,000       24.03  
 
             12/1/2005       12,000       23.19  
 
                                
Larry D. Bateman
   Executive Vice President     11/1/2003       3,333       23.51  
 
             11/1/2004       6,667       24.03  
 
             12/1/2005       12,000       23.19  
 
                                
W. James Threadgill, Jr.
   Executive Vice President     11/1/2003       4,000       23.51  
 
             11/1/2004       8,000       24.03  
 
             12/1/2005       12,000       23.19  
 
                                
Gary R. Harder
   Executive Vice President     11/1/2003       2,667       23.51  
 
             11/1/2004       4,667       24.03  
 
             12/1/2005       8,000       23.19  

 

Table of Contents

                                 
                    Number of    
Name   Position   Grant Date   Accelerated Options   Exercise Price
Cathy M. Robertson
   Executive Vice President     11/1/2003       2,333       23.51  
 
             11/1/2004       4,000       24.03  
 
             12/1/2005       6,000       23.19  
 
                                
Cathy S. Freeman
   Senior Vice President     11/1/2003       2,667       23.51  
 
   and Corporate Secretary     11/1/2004       5,333       24.03  
 
             12/1/2005       10,000       23.19  
     Under the recently revised Financial Accounting Standards Board Statement No. 123(R), “Share-based Payment,” we will be required to recognize the expense associated with our outstanding unvested stock options beginning in the first quarter of fiscal year 2006. As a result of the acceleration, we expect to reduce the pretax stock option expense we otherwise would be required to record in connection with the accelerated options.
Section 7 — Regulation FD
      Item 7.01. Regulation FD Disclosure.
     On December 14, 2005, our Board of Directors approved the accelerated vesting of certain unvested stock options as more fully described above under Item 1.01.

 

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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.
         
  BANCORPSOUTH, INC.
 		  
  By:   /s/ L. NASH ALLEN, JR.    
    L. Nash Allen, Jr.   
    Treasurer and Chief Financial Officer   
 
Date: December 15, 2005

 

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