Mcdermott International Inc - Current report filing (8-K)
21 August 2008 - 12:01PM
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): August 14, 2008
McDERMOTT
INTERNATIONAL, INC.
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(Exact name of registrant as specified in its charter)
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REPUBLIC OF PANAMA
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001-08430
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72-0593134
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(State or other jurisdiction
of incorporation)
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(Commission
File Number)
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(IRS Employer
Identification No.)
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777 N. Eldridge Parkway, Houston, Texas
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77079
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(Address
of principal executive offices)
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(Zip
Code)
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Registrant’s Telephone Number, including Area Code:
(281)
870-5901
_______________________________________________________
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.
On August 14, 2008, John T. Nesser III was selected to be Executive Vice
President and Chief Operating Officer of one of our principal
subsidiaries, J. Ray McDermott, S.A., effective October 1, 2008. Mr.
Nesser has served as our Executive Vice President, Chief Administrative
and Legal Officer, but will be leaving that position to focus on his new
duties with J. Ray McDermott. A copy of the press release announcing
Mr. Nesser’s appointment is attached as Exhibit 99.1.
In connection with his new role, Mr. Nesser was granted 20,930
shares of performance shares and 5,810 shares of restricted stock under
our 2001 Directors and Officers Long-Term Incentive Plan. Additionally,
for the period October 1, 2008 to December 31, 2008, Mr. Nesser’s target
opportunity for his 2008 bonus award under our Executive Incentive
Compensation Plan will increase from 65% to 70% of his base salary
focusing on the operating income results of J. Ray McDermott.
Item
9.01 Financial Statements and Exhibits.
(d)
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Exhibits
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99.1 Press Release dated August 14, 2008
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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 thereunto duly authorized.
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McDERMOTT INTERNATIONAL, INC.
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By:
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/s/Dennis S. Baldwin
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Dennis S. Baldwin
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Vice President and Chief Accounting Officer
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August 20, 2008
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