-----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, Okyo61V5d6okYbrMSfp0lq/AlTUvx1vSTqHOIOzc1dvlNnGIjX6Yk9w3hEwcimmy GGF944+B6VfctN4sB5A0wA== 0000950129-08-002031.txt : 20080331 0000950129-08-002031.hdr.sgml : 20080331 20080331163416 ACCESSION NUMBER: 0000950129-08-002031 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20080328 ITEM INFORMATION: Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers FILED AS OF DATE: 20080331 DATE AS OF CHANGE: 20080331 FILER: COMPANY DATA: COMPANY CONFORMED NAME: DIAMOND OFFSHORE DRILLING INC CENTRAL INDEX KEY: 0000949039 STANDARD INDUSTRIAL CLASSIFICATION: DRILLING OIL & GAS WELLS [1381] IRS NUMBER: 760321760 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-13926 FILM NUMBER: 08725228 BUSINESS ADDRESS: STREET 1: 15415 KATY FREEWAY CITY: HOUSTON STATE: TX ZIP: 77094 BUSINESS PHONE: 7134925300 MAIL ADDRESS: STREET 1: 15415 KATY FREEWAY CITY: HOUSTON STATE: TX ZIP: 77094 8-K 1 h55438e8vk.htm FORM 8-K - CURRENT REPORT 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
Date of report (Date of earliest event reported):                     March 28, 2008                    
Diamond Offshore Drilling, Inc.
 
(Exact Name of Registrant as Specified in Charter)
         
Delaware   1-13926   76-0321760
         
(State or Other Jurisdiction
of Incorporation) 		  (Commission File Number)   (IRS Employer
Identification No.)
15415 Katy Freeway
Houston, Texas 77094
 
(Address of Principal Executive Offices and Zip Code)
Registrant’s telephone number, including area code:                     (281) 492-5300                    
Not Applicable
 
(Former name or former address, if changed since last report)
     Check the appropriate line 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))
 
 

 

 

Item 5.02.   Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
(e) On March 28, 2008, the Compensation Committee of the Board of Directors of Diamond Offshore Drilling, Inc. (the “Company”) determined the performance goals, participants, payout formulas and maximum awards for the 2008 performance period under the Company’s Incentive Compensation Plan for Executive Officers (as amended and restated effective January 1, 2007) (the “Incentive Compensation Plan”). The 2008 awards will be based on the results of the Company’s drilling operations, specifically, the percentage of actual EBITDA (as defined by the Compensation Committee) for 2008 compared to the average of 2008 budgeted EBITDA and 2007 actual EBITDA. The amount available for incentive awards to each participant will be a function of the participant’s incentive target, which is expressed a percentage of that participant’s eligible base salary, and will not exceed the product of that incentive target and the participant’s eligible base salary. In accordance with the Incentive Compensation Plan, the Compensation Committee has retained negative discretion to reduce or eliminate any 2008 award payable to any of the participants.
     The table below sets forth the incentive target and maximum award established under the Incentive Compensation Plan for the 2008 performance period for each of the named executive officers identified in the Company’s most recent proxy statement.
                 
            Incentive Target/Maximum
    Eligible   Award as a Percentage of
Name and Position   Base Salary   Eligible Base Salary
 
                
James S. Tisch
     Chairman of the Board &
     Chief Executive Officer
  $ 300,000       100 %
 
                
Lawrence R. Dickerson
     President and
     Chief Operating Officer
    720,000       100 %
 
                
Gary T. Krenek
     Chief Financial Officer &
     Senior Vice President
    338,880       100 %
 
                
John L. Gabriel, Jr.
     Senior Vice President —
     Contracts and Marketing
    425,600       100 %
 
                
John M. Vecchio
     Senior Vice President —
     Technical Services
    374,150       100 %

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SIGNATURES
     Pursuant to the requirements of the Securities Exchange Act of 1934, the Company has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
         
  DIAMOND OFFSHORE DRILLING, INC.
 		  
  By:   /s/ William C. Long    
    William C. Long   
    Senior Vice President, General Counsel and Secretary   
 
Dated: March 31, 2008

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