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| PKE > SEC Filings for PKE > Form 8-K on 16-Oct-2009 | All Recent SEC Filings |
16-Oct-2009
Change in Directors or Principal Officers
Item 5.02(f)
Determination of Cash Bonus Awards for Fiscal Year 2009
On October 14, 2009, the Compensation Committee of the Board of Directors of Park Electrochemical Corp. (the "Company") approved cash bonus awards for the Company's executive officers identified below for the fiscal year ended March 1, 2009. Other compensation for fiscal year 2009 was previously reported by the Company in the Summary Compensation Table beginning on page 9 of the definitive proxy statement, dated June 24, 2009, for its 2009 Annual Meeting of Shareholders (filed with the Securities and Exchange Commission on June 24, 2009) (the "Proxy Statement"). As of the filing of the Proxy Statement, cash bonuses for executive officers had not been determined and, therefore, were omitted from the Summary Compensation Table included in the Proxy Statement. Pursuant to Item 5.02(f) of Form 8-K, the cash bonus awards for the named executive officers for fiscal year 2009 are set forth below.
Fiscal 2009
Name and Principal Position Cash Bonus Award Total Compensation
Brian E. Shore
Chairman of the Board,
President and Chief Executive Officer $ 50,000 $ 656,851
P. Matthew Farabaugh
Vice President and Controller $ 10,000 $ 176,435
Stephen E. Gilhuley
Executive Vice President, Secretary and General Counsel $ 25,000 $ 326,679
Anthony W. DiGaudio
Vice President of Marketing and Sales $ 25,000 $ 253,902
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As the Company has previously reported, the Company's Chief Executive Officer has declined to accept the Compensation Committee's offer of a bonus and a salary increase each year since the Company's 2001 fiscal year, except for a bonus for the 2008 fiscal year, which he donated to charity. The Company's Chief Executive Officer has stated that he intends to donate the 2009 fiscal year bonus to charity.
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