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
Date of Report (Date of earliest event reported) February 8, 2012
DUCOMMUN INCORPORATED
(Exact name of registrant as specified in its charter)
Delaware | 001-08174 | 95-0693330 | ||
(State or other jurisdiction of incorporation) |
(Commission File Number) |
(IRS Employer Identification No.) | ||
23301 Wilmington Avenue, Carson, California | 90745-6209 | |||
(Address of principal executive offices) | (Zip Code) |
Registrants telephone number, including area code (310) 513-7200
N/A
(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:
¨ | 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 8, 2012, the Compensation Committee of the Board of Directors (the Compensation Committee) of Ducommun Incorporated approved the 2012 Bonus Plan (the Plan) in the form attached hereto as Exhibit 99.1. The Plan is an annual cash bonus plan under which a bonus pool is funded based on the Companys net income, cash flow and net sales relative to targets. Participants in the Plan are the chairman of the board, the chief executive officer, the other officers of the Company and six other key subsidiary officers. Bonus awards under the Plan range from zero to 210% of salary depending on position. Bonus awards are subject to the approval of the Compensation Committee. Bonus awards are based on a combination of the Companys financial performance and the individual performance of the officers. The Compensation Committee, in its discretion, may award bonuses even if the Plans financial minimums are not achieved.
On February 8, 2012, the Compensation Committee awarded restricted stock units to the executive officers of the Company in the following amounts:
Name |
Position |
No. of Restricted Stock Units | ||
Anthony J. Reardon | President and Chief Executive Officer | 12,000 | ||
Joseph P. Bellino | Vice President and Chief Financial Officer | 4,000 | ||
James S. Heiser | Vice President, General Counsel and Secretary | 4,000 | ||
Michael G. Pollack | Vice President, Sales and Marketing | 2,300 | ||
Rose F. Rogers | Vice President, Human Resources | 2,300 | ||
Samuel D. Williams | Vice President, Controller and Assistant Treasurer | 2,300 |
The restricted stock units generally vest one-third on each anniversary date of the grant so that they are fully vested on February 8, 2015. The restricted stock units also vest in the event of a change in control of the Company (as defined in the restricted stock unit agreements), or the death or permanent disability (as defined in the restricted stock unit agreements) of the executive officer.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
99.1 | 2012 Bonus Plan |
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.
DUCOMMUN INCORPORATED | ||||
(Registrant) | ||||
Date: February 14, 2012 | By: | /s/ James S. Heiser | ||
James S. Heiser | ||||
Vice President and General Counsel |