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
May 30, 2007
Date of Report (Date of earliest event reported)
ATLANTIS PLASTICS, INC.
(Exact Name of Registrant as Specified in Its Charter)
| |
|
|
|
|
| DELAWARE
|
|
001-09487
|
|
06-1088270 |
|
|
|
|
|
|
| (State or Other Jurisdiction of Incorporation)
|
|
(Commission File Number)
|
|
(IRS Employer Identification No.) |
| |
|
|
1870 The Exchange, Suite 200
Atlanta, Georgia
|
|
30339 |
|
| (Address of Principal Executive Offices)
|
|
(Zip Code) |
(800) 497-7659
(Registrant’s telephone number, including area code)
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)) |
TABLE OF CONTENTS
|
|
|
| Item 5.02. |
|
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
We appointed V.M. “Bud” Philbrook, 53, as our President and
Chief Executive Officer effective
May 30, 2007. Mr. Philbrook has served as our President and Chief Operating Officer since
September 2006. Prior to that, Mr. Philbrook served as our President of Operations from May 2006
to September 2006. Mr. Philbrook joined our company in November 2003 as President of our Plastic
Films Group. From October 2002 until October 2003, Mr. Philbrook was President and Chief Executive
Officer of Plassein International, Inc. From October 2000 until October 2002, Mr. Philbrook served
initially as Executive Vice President and later as Group Vice President of Consumer Packaging,
North America, a diversified packaging unit of Huhtamaki Packaging Worldwide. From May 1998
through September 2000, Mr. Philbrook was President of Van Leer Flexibles, L.P., a specialty films
business. From 1987 through 1997, Mr. Philbrook held various positions with The Chinet Company, a
disposable packaging subsidiary of Van Leer Packaging Worldwide.
We currently have no employment agreement with Mr. Philbrook. On
May 30, 2007, the
Compensation Committee of our Board of Directors approved an annual base salary of $375,000 for Mr.
Philbrook. In addition, the Compensation Committee granted Mr. Philbrook an option to purchase
75,000 shares of our common stock at an exercise price equal to the closing price of our common
stock on the date of grant. Mr. Philbrook’s other compensation components and benefits are similar
to our other executive officers, which are described in our most recent proxy statement filed with
the Securities and Exchange Commission on April 30, 2007.
There are no family relationships between Mr. Philbrook and any
director or executive officer
of our company which would require disclosure under Item 401(d) of Regulation S-K and no
transactions between Mr. Philbrook or any of his immediate family members and us which would
require disclosure under Item 404(a) of Regulation S-K.
Effective May 30, 2007, Earl W. Powell, our Chairman of the
Board, resigned as our Interim
Chief Executive Officer.
On May 30, 2007, we issued a press release announcing the
appointment of Mr. Philbrook as
our President and Chief Executive Officer and the resignation of Mr. Earl W. Powell as our Interim
Chief Executive Officer. A copy of this press release is attached hereto as Exhibit 99.1 and is
hereby incorporated by reference in this Item 5.02.
|
|
|
| Item 9.01. |
|
Financial Statements and Exhibits. |
| |
(a) |
|
Financial Statements of Business Acquired.
Not applicable. |
| |
| |
(b) |
|
Pro Forma Financial Information.
Not applicable. |
| |
| |
(c) |
|
Exhibits. |
| |
|
|
| Exhibit |
|
|
| Number |
|
|
99.1
|
|
Press Release from Atlantis Plastics, Inc., dated May 30, 2007,
entitled “Atlantis Plastics Announces New Officer Appointment” |
2