0001171843-13-002260.txt : 20130528 0001171843-13-002260.hdr.sgml : 20130527 20130528161528 ACCESSION NUMBER: 0001171843-13-002260 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20130528 ITEM INFORMATION: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers FILED AS OF DATE: 20130528 DATE AS OF CHANGE: 20130528 FILER: COMPANY DATA: COMPANY CONFORMED NAME: MEDICAL ACTION INDUSTRIES INC CENTRAL INDEX KEY: 0000748270 STANDARD INDUSTRIAL CLASSIFICATION: ORTHOPEDIC, PROSTHETIC & SURGICAL APPLIANCES & SUPPLIES [3842] IRS NUMBER: 112421849 STATE OF INCORPORATION: DE FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-13251 FILM NUMBER: 13875276 BUSINESS ADDRESS: STREET 1: 500 EXPRESSWAY DRIVE SOUTH CITY: BRENTWOOD STATE: NY ZIP: 11717 BUSINESS PHONE: 6312314600 MAIL ADDRESS: STREET 1: 500 EXPRESSWAY DRIVE SOUTH CITY: BRENTWOOD STATE: NY ZIP: 11717 8-K 1 f8k_052813.htm FORM 8-K f8k_052813.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): May 28, 2013
 

Medical Action Industries Inc.
(Exact name of registrant as specified in its charter)

 
Delaware
000-13251
11-2421849
(State or other jurisdiction
(Commission
(IRS Employer
of incorporation)
File Number)
Identification No.)
 
 
500 Expressway Drive South
  
Brentwood, New York
11717
(Address of principal executive offices)
(Zip Code)
 
Registrant’s telephone number, including area code:
(631) 231-4600
 
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 obligations of the registrant under any of the following provisions (see General Instruction A.2. below):
 
[   ] 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))
 
 
 
 
Item 5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

On May 28, 2013, Medical Action Industries Inc. (the "Company") announced the appointment of Mr. Paul Chapman to the newly created position of President and Chief Operating Officer.  Mr. Chapman will also continue to serve on the Company's Board of Directors (the "Board").  Mr. Paul D. Meringolo, who formerly held dual positions as the Company’s President and Chief Executive Officer, will continue to serve as the Company’s Chief Executive Officer.
 
Mr. Chapman will be entitled to receive the following payments and benefits in his capacity as President and Chief Operating Officer: (i) a base salary at an annual rate of $408,000; (ii) a bonus of up to 65% of his base salary; (iii) an auto allowance; and (iv) participation in the benefit plans and programs of the Company that are generally applicable to employees or to senior executives.
 
As of the close of business on May 20, 2013, Mr. Chapman was also granted options to purchase 400,000 shares of the Company’s common stock in accordance with the Company’s 1994 Stock Incentive Plan for his work as the Company’s interim Chief Operating Officer and future work in the newly created position of President and Chief Operating Officer. 

 
 
 
 
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.


 
MEDICAL ACTION INDUSTRIES INC.
  
       
       
       
  By:
/s/ John Sheffield
  
   
John Sheffield
  
   
Executive Vice President and      
  
    Chief Financial Officer  


Dated:    May 28, 2013