-----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, Tk5NTIBI2YiRvw8J/fuVd6upuVy2cY4ppV0WSKccGbp4jF+ZakYEEe601K22DSru JDyXOBxGzYolhpSH67KU/A== 0000950144-07-000285.txt : 20070116 0000950144-07-000285.hdr.sgml : 20070115 20070116094241 ACCESSION NUMBER: 0000950144-07-000285 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20070111 ITEM INFORMATION: Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers FILED AS OF DATE: 20070116 DATE AS OF CHANGE: 20070116 FILER: COMPANY DATA: COMPANY CONFORMED NAME: INSTEEL INDUSTRIES INC CENTRAL INDEX KEY: 0000764401 STANDARD INDUSTRIAL CLASSIFICATION: STEEL WORKS, BLAST FURNACES & ROLLING & FINISHING MILLS [3310] IRS NUMBER: 560674867 STATE OF INCORPORATION: NC FISCAL YEAR END: 1002 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-09929 FILM NUMBER: 07530654 BUSINESS ADDRESS: STREET 1: 1373 BOGGS DR CITY: MOUNT AIRY STATE: NC ZIP: 27030 BUSINESS PHONE: 9107862141 MAIL ADDRESS: STREET 1: 1373 BOGGS DRIVE CITY: MOUNT AIRY STATE: NC ZIP: 27030 FORMER COMPANY: FORMER CONFORMED NAME: EXPOSAIC INDUSTRIES INC DATE OF NAME CHANGE: 19880511 8-K 1 g05080e8vk.htm INSTEEL INDUSTRIES, INC. INSTEEL INDUSTRIES, INC.
 

 
 
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): January 11, 2007
Commission File Number 1-9929
Insteel Industries, Inc.
(Exact name of registrant as specified in its charter)
     
North Carolina   56-0674867
     
(State or other jurisdiction of
incorporation or organization) 		  (I.R.S. Employer
Identification No.)
     
1373 Boggs Drive, Mount Airy, North Carolina   27030
     
(Address of principal executive offices)   (Zip Code)
Registrant’s telephone number, including area code: (336) 786-2141
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 Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
     On January 11, 2007, the Executive Compensation Committee (the “Committee”) of the Board of Directors of Insteel Industries, Inc. (the “Company”) approved (a) increases in the annual base salaries of certain executive officers, and (b) increases in the target value of equity-based long-term incentives to be granted to executive officers.
     The Committee approved increases in the annual salaries of H.O. Woltz III, the Company’s President and Chief Executive Officer, from $405,000 to $430,000, and Michael C. Gazmarian, the Company’s Chief Financial Officer and Treasurer, from $235,000 to $250,000. In both cases, the increases will be effective January 28, 2007.
     The Committee also approved increases in the target value of equity-based long-term incentives to be granted to executive officers as shown in the table below:
                 
    Fiscal 2006 Long-Term   New Annual Long-Term
Name and Position   Incentive Target Value   Incentive Target Value
H.O. Woltz III
President and Chief Executive Officer
   $ 325,000     $ 600,000  
 
                
Michael C. Gazmarian
Chief Financial Officer and Treasurer
   $ 145,000     $ 275,000  
 
                
James F. Petelle
Vice President – Administration and Secretary
   $ 90,000     $ 110,000  
     Long-term incentives are split equally between stock options and grants of restricted stock. One-half of the option grants and restricted stock awards will be made on the date of the Company’s Annual Meeting (February 13, 2007) and the remaining half of the option grants and restricted stock awards will be made six months from the Annual Meeting date (August 13, 2007). Long-term incentives are granted pursuant to the 2005 Equity Incentive Plan of Insteel Industries, Inc., approved by shareholders on Feb. 15, 2005.

 

 

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 thereunto duly authorized.
         
  INSTEEL INDUSTRIES, INC.
Registrant
 		  
Date: January 16, 2007  By:   /s/ H.O. Woltz III    
    H.O. Woltz III   
    President and Chief Executive Officer   
 
         
     
Date: January 16, 2007  By:   /s/ James F. Petelle    
    James F. Petelle   
    Vice President – Administration and Secretary   
 

 

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