0001513162-12-000986.txt : 20121221 0001513162-12-000986.hdr.sgml : 20121221 20121221112123 ACCESSION NUMBER: 0001513162-12-000986 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20121219 ITEM INFORMATION: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers FILED AS OF DATE: 20121221 DATE AS OF CHANGE: 20121221 FILER: COMPANY DATA: COMPANY CONFORMED NAME: STANLEY FURNITURE CO INC. CENTRAL INDEX KEY: 0000797465 STANDARD INDUSTRIAL CLASSIFICATION: WOOD HOUSEHOLD FURNITURE, (NO UPHOLSTERED) [2511] IRS NUMBER: 541272589 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-34964 FILM NUMBER: 121279897 BUSINESS ADDRESS: STREET 1: 1641 FAIRYSTONE PK HWY STREET 2: P. O. BOX 30 CITY: STANLEYTOWN STATE: VA ZIP: 24168 BUSINESS PHONE: 5406272000 MAIL ADDRESS: STREET 1: 1641 FAIRYSTONE PARK HGWY STREET 2: P. O. BOX 30 CITY: STANLEYTOWN STATE: VA ZIP: 24168 FORMER COMPANY: FORMER CONFORMED NAME: STANLEY FURNITURE CO INC/ DATE OF NAME CHANGE: 19930908 FORMER COMPANY: FORMER CONFORMED NAME: STANLEY FURNITURE CO INC DATE OF NAME CHANGE: 19930908 FORMER COMPANY: FORMER CONFORMED NAME: STANLEY INTERIORS CORP DATE OF NAME CHANGE: 19920703 8-K 1 stly8k.htm FORM 8-K stly8k.htm - Generated by SEC Publisher for SEC Filing

 

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):  December 19, 2012

 

 

Stanley Furniture Company, Inc.

(Exact name of registrant as specified in its charter)

 

 

Commission File No. 0-14938

 

Delaware

54-1272589

(State or other jurisdiction of incorporation)

(IRS Employer Identification No.)

 

 

1641 Fairystone Park Highway

Stanleytown, Virginia

 

24168

(Address of principal executive offices)

(Zip Code)

 

 

Registrant’s telephone number, including area code: (276) 627-2010

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):

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 or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

 

            On December 19, 2012, the Compensation Committee (the “Committee”) of the Company’s Board of Directors adopted the Company’s 2013 annual incentive compensation program (the “2013 Incentive Plan”) which is for corporate officers and key employees who can directly influence the Company’s financial results.  Under the 2013 Incentive Plan, the Company’s executive officers may receive a cash bonus based on the Company’s earnings (loss) before interest and taxes (“EBIT”).  The bonus would be a percentage of base salary for each executive officer.  The target bonus would be paid if the target performance is achieved.  A smaller bonus would be paid for performance between a threshold and the target.  A larger bonus could be paid (up to a maximum of 200% of the target bonus) for performance in excess of target.  No bonus will be paid if the threshold is not met. 

 

            The Committee approved a target bonus of 100% of base salary for Glenn Prillaman, President and Chief Executive Officer of the Company, and 80% of base salary for Micah S. Goldstein, Chief Operating and Financial Officer of the Company.  The 2013 base salaries of Glenn Prillaman and Micah S. Goldstein will remain the same as in 2012. 

 

 

 

 

 

 

                                                                         

    

 

 

 

SIGNATURES

 

 

                      Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this Report to be signed on its behalf by the undersigned thereunto duly authorized.

 

 

                                                                           STANLEY FURNITURE COMPANY, INC.

 

 

Date: December 21, 2012   By:  /s/Micah S. Goldstein                     
       Micah S. Goldstein
       Chief Financial Officer