8-K 1 e8kcompensation81507.txt COMPENSATION 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):August 15, 2007 --------------- PARK ELECTROCHEMICAL CORP. -------------------------------------------------------------- (Exact Name of Registrant as Specified in Charter) New York 1-4415 11-1734643 -------------------------------------------------------------- (State or Other Jurisdiction (Commission (IRS Employer of Incorporation) File Number) Identification No.) 48 South Service Road, Melville, New York 11747 ------------------------------------------------------------- (Address of Principal Executive Offices) (Zip Code) Registrant's telephone number, including area code(631)465-3600 ------------ 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: [ ] 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 and Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. Item 5.02(f) Determination of Cash Bonus Awards for Fiscal Year 2007 On August 15, 2007, the Compensation Committee of the Board of Directors of Park Electrochemical Corp.(the "Company") approved cash bonus awards for the Company's executive officers identified below for the fiscal year ended February 25, 2007. Other compensation for fiscal year 2007 was previously reported by the Company in the 2007 Fiscal Year Summary Compensation Table beginning on page 9 of the definitive proxy statement, dated June 21, 2007, for its 2007 Annual Meeting of Shareholders (filed with the Securities and Exchange Commission on June 21, 2007)(the "Proxy Statement"). As of the filing of the Proxy Statement, cash bonuses for executive officers had not been determined and, therefore, were omitted from the 2007 Fiscal Year Summary Compensation Table included in the Proxy Statement. Pursuant to Item 5.02(f) of Form 8-K, the cash bonus awards for the named executive officers for fiscal year 2007 are set forth below. Fiscal 2007 Cash Bonus Total Name and Principal Position Award Compensation --------------------------- ---------- ------------ Stephen E. Gilhuley $ 70,000 $ 335,594 Executive Vice President, Secretary and General Counsel James W. Kelly $ 50,000 $ 268,874 Vice President, Taxes and Planning Anthony W. DiGaudio $ 45,000 $ 221,018 Vice President of Marketing and Sales Louis J. Stans $ 30,000 $ 197,415 Vice President of Engineering, Quality and Research and Development 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. PARK ELECTROCHEMICAL CORP. Date: August 20, 2007 By: ------------------------------- Name: Stephen E. Gilhuley Title: Executive Vice President, Secretary and General Counsel