-----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, Rch76nMdnpNt0RCDL6mvHk/WXHMvS6Z81x8nshW47HUNRLUtpWq7bnwoul/AZ1KV K5vz2/Cidhc3RI90NTB2ew== 0000950124-06-000709.txt : 20060216 0000950124-06-000709.hdr.sgml : 20060216 20060216165922 ACCESSION NUMBER: 0000950124-06-000709 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20060210 ITEM INFORMATION: Entry into a Material Definitive Agreement FILED AS OF DATE: 20060216 DATE AS OF CHANGE: 20060216 FILER: COMPANY DATA: COMPANY CONFORMED NAME: GYMBOREE CORP CENTRAL INDEX KEY: 0000786110 STANDARD INDUSTRIAL CLASSIFICATION: APPAREL & OTHER FINISHED PRODS OF FABRICS & SIMILAR MATERIAL [2300] IRS NUMBER: 942615258 STATE OF INCORPORATION: DE FISCAL YEAR END: 0129 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-21250 FILM NUMBER: 06625924 BUSINESS ADDRESS: STREET 1: 500 HOWARD STREET CITY: SAN FRANCISCO STATE: CA ZIP: 94105 BUSINESS PHONE: 415-278-7000 MAIL ADDRESS: STREET 1: 500 HOWARD STREET CITY: SAN FRANCISCO STATE: CA ZIP: 94105 8-K 1 v17528e8vk.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):   February 10, 2006
     
The Gymboree Corporation
 
(Exact name of registrant as specified in its charter)
         
Delaware   000-21250   942615258
         
(State or other jurisdiction
of incorporation) 		  (Commission File
Number) 		  (IRS Employer
Identification No.)
     
500 Howard Street, San Francisco, CA   94105
     
(Address of principal executive offices)   (Zip Code)
     
Registrant’s telephone number, including area code   (415) 278-7000
     
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 1.01           Entry into a Material Definitive Agreement
     On February 10, 2006, the Compensation Committee of the Board of Directors of The Gymboree Corporation adopted a discretionary bonus plan for fiscal 2006 (“2006 Bonus Plan”) for all employees, including executive officers. The Compensation Committee also approved performance goals for bonuses to be paid under the 2006 Bonus Plan based on quarterly and annual earnings per share performance. The 2006 Bonus Plan provides for payment of cash bonuses at specified target amounts calculated as a percentage of a participant’s base salary. If at least the minimum applicable performance goals are met, bonus payments will range from 25% to 150% of the target payout amounts depending on how actual performance compares to the established performance goals. Bonuses will be paid quarterly if the quarter’s performance goals are met. Bonus amounts above 100% of the target payout amount for any quarter will be paid after the end of fiscal 2006. Participants in the 2006 Bonus Plan must be employed at the end of the applicable period to receive a quarterly bonus payment and must be employed at the end of fiscal 2006 to receive payment of bonus amounts above 100% of the target payment amounts. If one or more quarterly performance goals is not met, but the annual performance goals are met, participants will receive a “catch-up” bonus, which would allow the total bonus paid for the year to equal up to the maximum (150%) of the target payout amount.
     The Compensation Committee also approved target payout levels as a percentage of base salary for 2006 Bonus Plan participants, including for the executive officers as set forth below.
                     
 
Name
    Title     2006
Target Payout 		 
 
Matthew K. McCauley
    Chief Executive Officer       100 %  
 
Lisa M. Harper
    Chief Creative Officer and Chairman of the Board       100 %  
 
Kip Garcia
    President       85 %  
 
Blair W. Lambert
    Chief Operating Officer and Chief Financial Officer       85 %  
 
Marina Armstrong
    Senior Vice President, Stores, Human Resources and
Loss Prevention and Secretary 		      85 %  
 
Lynda Gustafson
    Vice President, Controller       40 %  
 

 

 

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.
         
  THE GYMBOREE CORPORATION
 		  
Date: February 16, 2006  By:   /s/ Blair W. Lambert    
    Blair W. Lambert   
    Chief Financial Officer and Chief
Operating Officer 		  
 

 

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