ABRAMS INDUSTRIES, INC
 

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): June 26, 2006
 
ABRAMS INDUSTRIES, INC.
 
(Exact name of Registrant as Specified in its Charter)
         
Georgia   0-10146   58-0522129
         
(State or other Jurisdiction of   (Commission File   (IRS Employer
Incorporation or Organization)   Number)   Identification No.)
     
1945 The Exchange    
Suite 300    
Atlanta, Georgia   30339-2029
     
(Address of principal executive offices)   (Zip code)
Registrant’s telephone number, including area code: (770) 953-0304
Not Applicable
 
(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.):
     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 1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT
     On June 26, 2006, the Compensation Committee of the Board of Directors granted stock appreciation rights (“SARs”) to the following Executive Officers and Directors under the 2000 Stock Award Plan:
             
Name   Title   Number of Shares
Alan R. Abrams
  Chairman, President & CEO     48,000  
J. Andrew Abrams
  Executive Vice President     24,000  
Mark J. Thomas
  Chief Financial Officer     24,000  
Melinda S. Garrett
  President & CEO, Abrams Properties, Inc.; Director     24,000  
M. Todd Jarvis
  President & COO, Servidyne Systems, LLC; President & CEO, The Wheatstone Energy Group, LLC     24,000  
David L. Abrams
  Director     12,000  
Samuel E. Allen
  Director     12,000  
Gilbert L. Danielson
  Director     12,000  
Robert T. McWhinney, Jr.
  Director     12,000  
All SARs vest 30% on the third anniversary of the grant date, 30% on the fourth anniversary of the grant date, and 40% on the fifth anniversary of the grant date, provided that all SARs shall vest and be exercisable on the tenth consecutive business day that a share of the Company’s common stock has a closing sales price on NASDAQ at or above $20.00 per share.
Each stock appreciation right expires on the tenth anniversary of the grant date.

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SIGNATURES
Pursuant to the requirements of the Securities and Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
         
  ABRAMS INDUSTRIES, INC.
 
 
Dated: June 28, 2006  By:   /s/ Mark J. Thomas    
    Mark J. Thomas   
    Chief Financial Officer   
 

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