-----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, G807UZWdsyxdw8AhjXLKfMi57CNNEC8ZHfh5qatNCcus52EgkbPRJQiVyema2vzZ ABMiItn+4VPa4JzPu8qR3g== 0001193125-07-033099.txt : 20070215 0001193125-07-033099.hdr.sgml : 20070215 20070215164654 ACCESSION NUMBER: 0001193125-07-033099 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20070214 ITEM INFORMATION: Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers FILED AS OF DATE: 20070215 DATE AS OF CHANGE: 20070215 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BARD C R INC /NJ/ CENTRAL INDEX KEY: 0000009892 STANDARD INDUSTRIAL CLASSIFICATION: SURGICAL & MEDICAL INSTRUMENTS & APPARATUS [3841] IRS NUMBER: 221454160 STATE OF INCORPORATION: NJ FISCAL YEAR END: 1204 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-06926 FILM NUMBER: 07628035 BUSINESS ADDRESS: STREET 1: 730 CENTRAL AVE CITY: MURRAY HILL STATE: NJ ZIP: 07974 BUSINESS PHONE: 9082778000 MAIL ADDRESS: STREET 1: 730 CENTRAL AVENUE CITY: MURRAY HILL STATE: NJ ZIP: 07974 8-K 1 d8k.htm FORM 8-K Form 8-K

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): February 14, 2007

 


C. R. BARD, INC.

(Exact Name of Registrant as Specified in Charter)

 


 

New Jersey   001-6926   22-1454160
(State or Other Jurisdiction of
Incorporation or Organization)
  (Commission File Number)   (IRS Employer
Identification No.)

 

730 Central Avenue
Murray Hill, New Jersey
  07974
(Address of Principal Executive Office)   (Zip Code)

(908) 277-8000

(Registrant’s Telephone Number, Including Area Code)

 


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:

 

¨ 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.

 

(e) On February 14, 2007, the Compensation Committee of the Board of Directors of C. R. Bard, Inc. approved the 2007 performance criteria under the 2005 Executive Bonus Plan (the “Plan”). The Plan, formerly known as the 1994 Executive Bonus Plan of C. R. Bard, Inc., was amended and restated in June 2005 and filed as Exhibit 10ax to the company’s June 30, 2005 Form 10-Q. The performance criteria for 2007 include a target of earnings per share growth of 14% above the prior year. The earnings per share target is the primary factor in determining bonus payments. The Committee set sales, cash flow from operations and return on equity targets as additional objective criteria under which bonus payouts would be determined, although these criteria have significantly less weight in determining bonus payments. Bonus calculations are based on operational results that are generally exclusive of items of an unusual or infrequent nature and other items that affect the comparability of results between periods. Bonus targets for the company’s named executive officers range from 80% to 125% of base salary. Depending on the performance of the company, the actual bonus payments could be higher or lower than the target amounts. For Group Vice Presidents, 50% of their bonuses will be calculated based on the degree to which their respective business units achieve results, and 50% will be calculated based on the corporate financial targets described above. For 2007, the primary targets for the business units were set at a 10% growth in sales and a 14% growth in net income. However, the bonus amounts may be reduced if additional gross margin and quality targets for the business units are not met. No award under the Plan may exceed $1,800,000 for any fiscal year.


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.

 

C. R. BARD, INC.
By:   /s/    TODD C. SCHERMERHORN        
Name:   Todd C. Schermerhorn
Title:   Senior Vice President and
Chief Financial Officer

February 15, 2007

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