-----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, AHBqXoGwLfG5XpCR/x2wgEIGYMrK+81G+cv1965CT8E8tqWwQoTEJQpMJXir9dCD A9OsakYD5dCEOgRL4WAO9A== 0000950134-05-012092.txt : 20050616 0000950134-05-012092.hdr.sgml : 20050615 20050616143003 ACCESSION NUMBER: 0000950134-05-012092 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20050614 ITEM INFORMATION: Entry into a Material Definitive Agreement ITEM INFORMATION: Termination of a Material Definitive Agreement FILED AS OF DATE: 20050616 DATE AS OF CHANGE: 20050616 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ABM INDUSTRIES INC /DE/ CENTRAL INDEX KEY: 0000771497 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-TO DWELLINGS & OTHER BUILDINGS [7340] IRS NUMBER: 941369354 STATE OF INCORPORATION: DE FISCAL YEAR END: 1031 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-08929 FILM NUMBER: 05899928 BUSINESS ADDRESS: STREET 1: 160 PACIFIC AVENUE STREET 2: SUITE 222 CITY: SAN FRANCISCO STATE: CA ZIP: 94111 BUSINESS PHONE: 4157334000 MAIL ADDRESS: STREET 1: 160 PACIFIC AVENUE STREET 2: SUITE 222 CITY: SAN FRANCISCO STATE: CA ZIP: 94111 FORMER COMPANY: FORMER CONFORMED NAME: ABM INDUSTRIES INC DATE OF NAME CHANGE: 19950110 FORMER COMPANY: FORMER CONFORMED NAME: AMERICAN BUILDING MAINTENANCE INDUSTRIES INC DATE OF NAME CHANGE: 19920703 8-K 1 f10064e8vk.htm FORM 8-K e8vk
 

 
 

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): June 14, 2005

ABM Industries Incorporated

(Exact name of registrant as specified in its charter)
         
Delaware
  1-8929    94-1369354
(State or other jurisdiction
of incorporation)
  (Commission File
Number) 		  (IRS Employer
Identification No.)
 
        
160 Pacific Avenue, Suite 222,
        94111
San Francisco, California
       (Zip Code)
(Address of principal executive offices)
        

Registrant’s telephone number, including area code (415) 733-4000

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:

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 1.01 Entry into a Material Definitive Agreement

On June 14, 2005, the ABM Industries, Incorporated (“ABM”) and Henrik C. Slipsager, President & Chief Executive Officer of ABM entered into a new employment agreement. The new agreement has a term ending October 31, 2008. The terms of Mr. Slipsager’s compensation are unchanged, with a base salary of $677,950 and a target bonus of 50% of base salary, which may range from 0% to 150% of the target based on Mr. Slipsager’s performance. The performance criteria for fiscal 2005 are those reported in ABM’s Form 8-K Current Report dated March 24, 2005. The remaining provisions of the agreement contain substantially the same terms and conditions as Mr. Slipsager’s previous employment agreement, including non-competition, post-employment non-solicitation of customers and employees, and confidentiality with additional terms related to mutual non-disparagement, cooperation on litigation matters subsequent to termination, and revised terms related to the arbitration of any post-employment disputes.

On June 14, 2005, the Compensation Committee of the Board of Directors (the “Compensation Committee”) granted the following executive officers stock options under the 2002 Price-Vested Stock Option Plan to purchase the number of shares of the Company’s common stock set forth beside each officer’s name:

         
Henrik C. Slipsager
     250,000  
President & Chief Executive Officer
        
 
        
William T. (“Terry”) Petty
     50,000  
Executive Vice President &
Chief Operating Officer
        
 
        
James P. McClure
     125,000  
Executive Vice President &
President, ABM Janitorial Services
        
 
        
George B. Sundby
     50,000  
Executive Vice President &
Chief Financial Officer
        
 
        
Linda S. Auwers
     75,000  
Senior Vice President &
General Counsel
        
 
        
Steven M. Zaccagnini
     100,000  
Senior Vice President &
President, ABM Facility Services
        
 
        
David L. Farwell
     50,000  
Vice President & Treasurer
        

 

 

The exercise price for the shares under the June 14, 2005 grants is $18.30, the “Fair Market Value” of a share of the Company’s common stock at the time of grant. The shares will vest within the first four years after the date of grant if the Fair Market Value of the Common Stock for 10 trading days in any period of 30 consecutive trading days (a) equals or exceeds $23 with respect to 50% of the shares or (b) equals or exceeds $26 for the remaining shares. To the extent that accelerated vesting does not occur, the options will vest on June 14, 2013.

Item 1.02 Termination of a Material Definitive Agreement

On June 14, 2005, the employment agreement effective as of November 1, 2003 between ABM and Mr. Slipsager terminated and was replaced by the agreement dated June 14, 2005, which is discussed under Item 1.01 above.

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.
         
  ABM INDUSTRIES INCORPORATED
 		  
Dated: June 15, 2005  By:   Linda S. Auwers   
    Linda S. Auwers   
    Senior Vice President & General Counsel   
 

 

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