form_8k.htm

0000091388-09-000057.txt : 20091214 0000091388-09-000057.hdr.sgml : 20091214 20091214170759 ACCESSION NUMBER: 0000091388-09-000057 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20091208 ITEM INFORMATION: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20091214 DATE AS OF CHANGE: 20091214 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SMITHFIELD FOODS INC CENTRAL INDEX KEY: 0000091388 STANDARD INDUSTRIAL CLASSIFICATION: MEAT PACKING PLANTS [2011] IRS NUMBER: 520845861 STATE OF INCORPORATION: VA FISCAL YEAR END: 0427 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-15321 FILM NUMBER: 091239593 BUSINESS ADDRESS: STREET 1: 200 COMMERCE STREET STREET 2: EXECUTIVE OFFICE BUILDING CITY: SMITHFIELD STATE: VA ZIP: 23430 BUSINESS PHONE: 7573653000 MAIL ADDRESS: STREET 1: 200 COMMERCE STREET STREET 2: EXECUTIVE OFFICE BUILDING CITY: SMITHFIELD STATE: VA ZIP: 23430 FORMER COMPANY: FORMER CONFORMED NAME: LIBERTY EQUITIES CORP DATE OF NAME CHANGE: 19710221 FORMER COMPANY: FORMER CONFORMED NAME: LIBERTY REAL ESTATE TRUST DATE OF NAME CHANGE: 19661113 8-K 1 form_8k.htm FORM 8-K form_8k.htm

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

Date of Report (Date of earliest event reported): December 8, 2009

SMITHFIELD FOODS, INC.

	Virginia		1-15321		52-0845861
	(State or other jurisdiction of incorporation)		(Commission File Number)		(IRS Employer Identification No.)

	200 Commerce Street Smithfield, Virginia		23430
	(Address of principal executive offices)		(Zip Code)

Registrant's telephone number, including area code: (757) 365-3000

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 8, 2009, the Compensation Committee of the Smithfield Foods, Inc. (the “Company”) Board of Directors awarded Robert W. Manly, IV, the Company's Executive Vice President and Chief Financial Officer, an incentive cash bonus award pursuant to the performance grant component of the Smithfield Foods, Inc. 2008 Incentive Compensation Plan, a one-time cash bonus and performance share units. A summary of these awards is set forth in Exhibit 99.1.

The foregoing description is not complete and is qualified in its entirety by reference to Exhibit 99.1 which is incorporated herein by reference.

Item 9.01

Financial Statements and Exhibits.

(d) Exhibits

99.1

Description of certain Compensation Committee actions, effective December 8, 2009.

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.

	SMITHFIELD FOODS, INC.



Date: December 14, 2009	/s/ Michael H. Cole
	Michael H. Cole
	Vice President, Chief Legal Officer and Secretary

EXHIBIT INDEX

Exhibit 99.1

Summary of certain Compensation Committee actions, effective December 8, 2009.

EX-99.1 2 ex99-1.htm EXHIBIT 99.1 ex99-1.htm

Exhibit 99.1

SUMMARY OF CERTAIN COMPENSATION COMMITTEE ACTIONS,

EFFECTIVE DECEMBER 8, 2009

On December 8, 2009, the Compensation Committee approved the following awards for Robert W. Manly, IV, the Company’s Executive Vice President and Chief Financial Officer:

1. An incentive cash bonus award pursuant to the performance grant component of the Smithfield Foods, Inc. 2008 Incentive Compensation Plan (the “2008 Plan”) for the measurement period of November 2, 2009 to May 2, 2010 (the Company’s third and fourth quarters) of:

0% of the first $50 million of Company net profits, and

0.5% of Company net profits in excess of $50 million.

Net profits are generally defined as net income before deduction for income taxes and incentive payments to key employees.

2. In recognition of the significant contributions made by Mr. Manly to the success of the various financing projects the Company completed in fiscal 2010:

A one-time cash bonus of $500,000, and

An award of 50,000 performance share units under the 2008 Plan subject to performance conditions. In addition to the performance conditions, these performance share units have two year cliff vesting from the date of grant. All performance share units fully vest upon a Qualifying Change of Control (as defined in the 2008 Plan).