-----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, FLCHjZ4xES3lHs2GjblrYwajpvVoCGyV0sE7gHa5pD42Ft6xBhlTexy2mPxM4Zym PgFZi8hxhvkUTVLjeQh/BA== 0000892251-10-000156.txt : 20100824 0000892251-10-000156.hdr.sgml : 20100824 20100824162916 ACCESSION NUMBER: 0000892251-10-000156 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20100818 ITEM INFORMATION: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers FILED AS OF DATE: 20100824 DATE AS OF CHANGE: 20100824 FILER: COMPANY DATA: COMPANY CONFORMED NAME: LSI INDUSTRIES INC CENTRAL INDEX KEY: 0000763532 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC LIGHTING & WIRING EQUIPMENT [3640] IRS NUMBER: 310888951 STATE OF INCORPORATION: OH FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-13375 FILM NUMBER: 101035458 BUSINESS ADDRESS: STREET 1: 10000 ALLIANCE RD STREET 2: P O BOX 42728 CITY: CINCINNATI STATE: OH ZIP: 45242 BUSINESS PHONE: 5135796411 MAIL ADDRESS: STREET 1: 10000 ALLIANCE RD STREET 2: P O BOX 42728 CITY: CINCINNATI STATE: OH ZIP: 45242 FORMER COMPANY: FORMER CONFORMED NAME: LSI LIGHTING SYSTEMS INC DATE OF NAME CHANGE: 19891121 8-K 1 form8k081810.htm FORM 8-K form8k081810.htm
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 Act of 1934

Date of Report (Date of earliest event reported):  August 18, 2010


 
LSI INDUSTRIES INC.
 (Exact name of Registrant as specified in its Charter)
 
 
Ohio
  
0-13375
  
31-0888951
  
(State or Other Jurisdiction of Incorporation)
  
(Commission File Number)
 
  
(IRS Employer Identification No.)
 
 
 
10000 Alliance Road, Cincinnati, Ohio
  
45242
      
(Address of Principal Executive Offices)
  
(Zip Code)
      

 
 
 Registrant’s telephone number, including area code  (513) 793-3200
 
                                                                                                           

(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 (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))


 
 
 



Item 5.02 – Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

(f)           The Compensation Committee of the Board of Directors of the Registrant took the following actions relating to executive compensation:

Fiscal 2010 Executive Compensation Matters

As previously reported, the Compensation Committee adopted an incentive plan creating a discretionary bonus pool in which all non-unionized employees, including executive officers, are eligible to participate.  Allocations from the pool will be discretionary and based upon management’s evaluation of the results achieved by the business as a whole, especially the further reduction in costs and expenses, and by the individual participants. 
 
On August 18, 2010 the Compensation Committee determined that the results achieved by the Registrant’s business as a whole, including its business locations and segments and their reduction in costs and expenses in excess of the amount targeted in the plan, met targeted goals and awarded bonus payments to all eligible employees.  The Registrant’s executive officers received the bonus payments described below from this pool.


Fiscal 2011 Executive Compensation Matters

 
A.
The Compensation Committee, on August 18, 2010, considered, but made no changes to the annual base salaries of the Company’s executive officers.  The annual base salary approved by the Compensation Committee for the Company’s named executive officers in August 2009 is set forth in the table below.  The Compensation Committee, on August 19, 2010, also granted the stock options, effective August 19, 2010, to the executives listed in the table below.

Executive Compensation Table

Name
  
Fiscal 2010
Cash Bonus
    
Fiscal 2010
Base Salary
(was effective
8/31/09)*
    
Stock Options
(Grant Date
8/19/10)
  
Robert J. Ready
President and Chief Executive Officer
   $ 20,000     $ 645,750 *     23,000  
                         
James P. Sferra
Secretary, and Executive Vice President, Manufacturing
   $ 25,000     $ 512,500 *     22,000  
                         
Ronald S. Stowell
Vice President, Chief Financial Officer & Treasurer
   $ 15,000     $ 283,100 *     22,000  
                         
Scott D. Ready
President, LSI Lighting Solutions Plus
   $ 13,000     $ 266,500 *     22,000  
                         
David W. McCauley
President, LSI Graphics Solutions Plus, and President, Grady McCauley Inc.
   $ 12,000     $ 248,050 *     15,000  
*  
    No change from fiscal 2010 base salary.
 
 
 

 

 
B.
The Compensation Committee, on August 19, 2010, approved stock option grants to the Company’s non-employee directors effective August 19, 2010, as set forth in the table below.

Director Stock Option Grant

Name
  
Stock Options
(Grant Date
8/19/10
  
Gary P. Kreider
     2,500  
Dennis B. Meyer
     2,500  
Wilfred T. O’Gara
     2,500  
Mark A. Serrianne
     2,500  

 
 
 


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.
 
 
LSI INDUSTRIES INC.
 
 
  
       
Date:  August 24, 2010
By:
/s/ Ronald S. Stowell  
    Ronald S. Stowell  
    Vice President, Chief Financial Officer and Treasurer  
    (Principal Accounting Officer)  
 
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