-----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, Uqdh8A33tdeRJ7pAmLQIdBX0PSsdq+85aEa36uqlO+COOj2OK4KsfTcXXeL3KsR9 sn/XKro8IauUip8oYo6cjg== 0000950133-05-004816.txt : 20051101 0000950133-05-004816.hdr.sgml : 20051101 20051101103400 ACCESSION NUMBER: 0000950133-05-004816 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20051026 ITEM INFORMATION: Entry into a Material Definitive Agreement FILED AS OF DATE: 20051101 DATE AS OF CHANGE: 20051101 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ORBITAL SCIENCES CORP /DE/ CENTRAL INDEX KEY: 0000820736 STANDARD INDUSTRIAL CLASSIFICATION: RADIO & TV BROADCASTING & COMMUNICATIONS EQUIPMENT [3663] IRS NUMBER: 061209561 STATE OF INCORPORATION: DE FISCAL YEAR END: 1204 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-14279 FILM NUMBER: 051168363 BUSINESS ADDRESS: STREET 1: 21839 ATLANTIC BLVD CITY: DULLES STATE: VA ZIP: 20166 BUSINESS PHONE: 703406 5524 MAIL ADDRESS: STREET 1: 21700 ATLANTIC BLVD STREET 2: 21700 ATLANTIC BLVD CITY: DULLES STATE: VA ZIP: 20166 FORMER COMPANY: FORMER CONFORMED NAME: ORBITAL SCIENCES CORP II DATE OF NAME CHANGE: 19900212 8-K 1 w14112e8vk.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
October 26, 2005
Date of Report (Date of earliest event reported):
ORBITAL SCIENCES CORPORATION
(Exact name of registrant as specified in its charter)
         
Delaware   1-14279   06-1209561
         
(State or other jurisdiction
of incorporation) 		  (Commission
File Number) 		  (IRS Employer
Identification No.)
21839 Atlantic Boulevard,
Dulles, Virginia
20166
(Address of principal executive offices)
703) 406-5000
Registrant’s telephone number, including area code:
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 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 October 26, 2005, the Human Resources and Compensation Committee of the Board of Directors of Orbital Sciences Corporation (the “Company”) approved the acceleration of vesting for all unvested stock options awarded to the Company’s officers and employees under the Company’s 1997 Stock Option and Incentive Plan with an exercise price greater than $11.28 on October 26, 2005. The table below presents information concerning the affected option awards and option holders. The Company’s stock price closed at $11.28 on October 26, 2005.
                                         
                    Total     Less - Options     Remaining options  
                    number of     which have already     for which vesting  
    Date of option     Option     options     vested as of     was accelerated to  
    award agreement     Price     awarded     October 26, 2005(1)     October 26, 2005(1)  
Chief Executive
Officer and certain
executive officers
                                        
 
                                        
David W. Thompson
   May 11, 2004   $ 12.40       60,000       40,000       20,000  
James R. Thompson
   May 11, 2004   $ 12.40       60,000       40,000       20,000  
Ronald J. Grabe
   May 11, 2004   $ 12.40       40,000       26,667       13,333  
John M. Danko
   May 11, 2004   $ 12.40       40,000       26,667       13,333  
Antonio L. Elias
   May 11, 2004   $ 12.40       30,000       20,000       10,000  
Leo Millstein
   May 11, 2004   $ 12.40       20,000       13,334       6,666  
 
                                  
 
                     250,000       166,668       83,332  
 
                                        
All other employees
   January 29, 2004   $ 12.62       5,000       1,667       3,333  
 
   May 11, 2004   $ 12.40       20,000       13,334       6,666  
 
   May 18, 2004   $ 12.05       765,000       509,538       255,462  
 
                                  
 
                     790,000       524,539       265,461  
Grand total —
all employees
                     1,040,000       691,207       348,793  
 
(1)    Under the terms of the original option award agreements, the options were scheduled to vest as follows:
1/3 on the date of the option award agreement (“Grant Date”)
1/3 on the first anniversary of the Grant Date
1/3 on the second anniversary of the Grant Date

 

 

SIGNATURE
     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.
             
      ORBITAL SCIENCES CORPORATION
(Registrant) 		   
 
            
Date: November 1, 2005
  By:   /s/ Garrett E. Pierce    
           
      Garrett E. Pierce    
      Vice Chairman and Chief Financial Officer    

 

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