- Current report filing (8-K)
24 März 2010 - 5:01PM
Edgar (US Regulatory)
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) March 24, 2010 (March 23,
2010)
CLARCOR
Inc.
|
(Exact
name of registrant as specified in its
charter)
|
Delaware
|
1-11024
|
36-0922490
|
(State
or other jurisdiction of incorporation)
|
(Commission
File Number)
|
(IRS
Employer Identification Number)
|
840
Crescent Centre Drive, Suite 600, Franklin, TN
|
37067
|
(Address
of principal executive offices)
|
(Zip
Code)
|
Registrant's
telephone number, including area code
|
615-771-3100
|
|
(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 (see General Instruction A.2.below):
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
|
5.02(b)
On March 23, 2010,
Bruce A. Klein, the Company’s Vice President - Chief Financial Officer and
principal accounting officer, announced that he will retire from the Company
effective on or about June 1, 2010. Mr. Klein is relinquishing his
current positions immediately, but will serve as the Company’s Vice President of
Strategic Initiatives until his retirement.
5.02(c)
On
March 23, 2010, the Company’s Board of Directors (“Board”) named David J.
Fallon, 40, as Mr. Klein’s successor as Vice President - Chief Financial Officer
and principal accounting officer, effective immediately. Mr. Fallon
was originally hired as the Company’s Vice President of Finance in June 2009 and
has been working for the Company in that capacity continuously
since.
From
January 2006 until June 2009, Mr. Fallon was the Chief Financial Officer and
principal accounting officer of Noble International Ltd. (“Noble”), a Tier I
supplier to the automotive industry, with global manufacturing operations and
revenues of approximately $1 billion, whose shares were publicly listed on
NASDAQ under the symbol NOBL.
Mr.
Fallon served as Noble’s Vice President of Finance from 2003 until he assumed
the position of Noble’s Chief Financial Officer in 2006. In his role
as Chief Financial Officer of Noble, Mr. Fallon was responsible for
substantially all of the same functions for which he will have responsibility at
the Company, including oversight of all domestic and foreign accounting,
treasury and financial functions, financial reporting responsibilities with the
U.S. Securities and Exchange Commission (“SEC”) and investor relations
pertaining to financial matters.
When he
joined the Company in 2009, Mr. Fallon entered into a Change of Control
Agreement, the terms of which are substantively identical to the Change of
Control Agreements in place between the Company and its other executive
officers, and summarized under the heading “Employment and Change of Control
Agreements” in the Company’s proxy statement filed with the SEC on February 12,
2010. Mr. Fallon’s Change of Control Agreement provides that he
will be entitled to receive one year’s compensation and benefits (and certain
other rights) in the event his employment is terminated by the Company without
cause or by Mr. Fallon for good reason in the one year period following a
defined Change of Control of the Company, but that if and when Mr. Fallon is
appointed to the position of Vice President – Chief Financial Officer, he will
be entitled to three years’ compensation and benefits (and certain other rights)
if his employment is terminated within three years following such a Change of
Control. Consequently, the Board’s appointment of Mr. Fallon to the
position of Vice President – Chief Financial Officer has triggered this
provision of his Change of Control Agreement. The foregoing
description does not purport to be a complete description of all the terms of
Mr. Fallon’s Change of Control Agreement and is qualified in its entirety
by reference to the form of Change of Control Agreement, which is attached as
Exhibit 10.1 to the Company’s Current Report filed on Form 8-K with the SEC on
December 30, 2008, and is incorporated by reference herein.
Mr.
Fallon is not a party to any other material plan, contract or arrangement with
the Company, nor has any other material plan, contract or arrangement to which
he is a party been modified as a result of Mr. Fallon’s promotion described
above.
Mr.
Fallon has no familial relationships nor related party transactions with the
Company that would require disclosure under Items 401(d) or 404(a) of Regulation
S-K (17 CFR 229.401(d) and 229.404(a)) in connection with his promotion
described above.
Item
5.07
|
Submission
of Matters to a Vote of Security
Holders
|
On March 23, 2010, the Company held its
2010 Annual Meeting of Shareholders. The following two matters were considered
and voted upon at the meeting:
|
·
|
The
election of Robert Burgstahler, Paul Donovan and Norman Johnson to serve
as directors of the Company for a term of three years each;
and
|
|
·
|
The
ratification of PricewaterhouseCoopers LLP as the Company's independent
registered public accounting firm to audit the Company's financial
statements for the fiscal year ending November 27,
2010.
|
Each of the above-named nominees for
director was duly elected and the appointment of PricewaterhouseCoopers was duly
ratified. The voting results for each nominee and in respect of the ratification
were as follows:
Candidate
|
For
|
Withheld
|
Non-Votes
|
|
|
|
|
Robert
Burgstahler
|
42,227,213
|
2,261,189
|
2,374,169
|
|
|
|
|
Paul
Donovan
|
42,228,048
|
2,260,355
|
2,374,169
|
|
|
|
|
Norman
Johnson
|
42,843,884
|
1,644,518
|
2,374,169
|
For
|
46,318,772
|
|
|
|
|
|
|
Against
|
525,893
|
|
|
|
|
|
|
Abstain
|
17,905
|
|
|
|
|
|
|
Non-Votes
|
0
|
|
|
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.
|
CLARCOR
INC.
|
|
|
|
|
|
|
By:
|
/s/
Richard M. Wolfson
|
|
|
|
Richard
M. Wolfson
|
|
|
|
Vice
President – General Counsel and Corporate Secretary
|
|
Date:
March 24, 2010
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