-----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, TuYEJxhi3enribL9e4mTk74hTD8DrW42G/3qhTulgkgGt8TCvoDcCB0d3Y6NMXwm uwjTt2qB6YGvAr5bxbIb+w== 0000950129-06-001698.txt : 20060222 0000950129-06-001698.hdr.sgml : 20060222 20060222163511 ACCESSION NUMBER: 0000950129-06-001698 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20060215 ITEM INFORMATION: Entry into a Material Definitive Agreement FILED AS OF DATE: 20060222 DATE AS OF CHANGE: 20060222 FILER: COMPANY DATA: COMPANY CONFORMED NAME: STONE ENERGY CORP CENTRAL INDEX KEY: 0000904080 STANDARD INDUSTRIAL CLASSIFICATION: CRUDE PETROLEUM & NATURAL GAS [1311] IRS NUMBER: 721235413 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-12074 FILM NUMBER: 06636561 BUSINESS ADDRESS: STREET 1: 625 E KALISTE SALOOM RD CITY: LAFAYETTE STATE: LA ZIP: 70508 BUSINESS PHONE: 3182370410 MAIL ADDRESS: STREET 1: 625 E KALISTLE SALOOM RD CITY: LAFAYETTE STATE: LA ZIP: 70508 8-K 1 h33342e8vk.htm STONE ENERGY CORPORATION e8vk
 

 
 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
February 15, 2006
Date of report (Date of earliest event reported)
STONE ENERGY CORPORATION
 
(Exact Name of Registrant as Specified in Charter)
         
Delaware
 
(State or Other
Jurisdiction of
Incorporation) 		  1-12074
 
(Commission File
Number) 		  72-1235413
 
(IRS Employer
Identification No.)
     
625 E. Kaliste Saloom Road
Lafayette, Louisiana
 
(Address of Principal Executive Offices) 		  70508
 
(Zip Code)
Registrant’s telephone number, including area code: (337) 237-0410
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))
 
 

 

 

Section 1 — Registrant’s Business and Operations
Item 1.01. Entry into a Material Definitive Agreement.
     On February 15, 2006, the Compensation Committee of the Board of Directors of Stone Energy Corporation (the “Company”) approved incentive bonus payments to the Company’s executive management pursuant to the Company’s Revised Annual Incentive Compensation Plan (the “Plan”). The awards relate to management’s performance in 2005. A cash bonus has been awarded to David H. Welch, President and Chief Executive Officer, in the amount of $160,000. No bonus was awarded to James H. Stone, Chairman of the Board. Other executive officers were awarded bonuses, including Jerome F. Wenzel, Jr., Senior Vice President, Operations, in the amount of $75,000, Craig L. Glassinger, Executive Vice President, Business Development, in the amount of $75,000, Kenneth H. Beer, Senior Vice President and Chief Financial Officer in the amount of $65,000, Andrew L. Gates, III, Senior Vice President, General Counsel and Secretary in the amount of $65,000, and J. Kent Pierret, Senior Vice President, Chief Accounting Officer and Treasurer in the amount of $65,000.
     Under the Plan, bonuses are primarily tied to several performance criteria as determined each year by the Compensation Committee, which for 2006 include reserves (Bcfe), production (MMcfe/d), all-in costs (per Mcfe), and total recordable incident rate for safety. A portion of the bonuses is also determined in the sole discretion of the Committee. To the extent that performance criteria are met, an incentive pool is generated. The amount of the incentive pool, however, may not exceed twice the aggregate base salary of all eligible employees for the relevant plan year, and no individual award to an eligible employee may exceed twice such employee’s base salary for the relevant plan year. The Plan was filed as an exhibit to the Company’s annual report on Form 10-K for the year ended December 31, 2004.

 

 

SIGNATURE
     Pursuant to the requirements of the Securities Exchange Act of 1934, Stone Energy Corporation has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
         
  STONE ENERGY CORPORATION
 		  
Date: February 22, 2006  By:   /s/ J. Kent Pierret    
    J. Kent Pierret    
    Senior Vice President,
Chief Accounting Officer
and Treasurer 		  
 

 

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