Sovran Self Storage Inc - Current report filing (8-K)
February 29 2008 - 4:16PM
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
February
26, 2008
(Date
of Report (Date of Earliest Event Reported))
SOVRAN
SELF STORAGE, INC.
(Exact
Name of Registrant as Specified in Its Charter)
Maryland
(State
of Other Jurisdiction
Of
Incorporation)
|
1-13820
(Commission
File
Number)
|
16-1194043
(I.R.S.
Employer
Identification
Number)
|
6467
Main Street
Williamsville,
New York 14221
(Address
of Principal Executive Offices)
(716)
633-1850
(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):
|
[ ]
Written
Communication 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))
|
-
1 -
Item
5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain
Officers.
On
February 26, 2008, Sovran Self Storage, Inc. (the "Company"), through
action of the Compensation Committee of the Company's Board of Directors (the
"Committee"), authorized annual incentive awards in respect of the year ended
December 31, 2007 to the Company's Chief Executive Officer,
Chief Operating Officer and Chief Financial Officer. The awards are
payable in cash, and in restricted stock under the terms of the Company's 2005
Award and Option Plan. The Committee also established base salary for
these executive officers for the year ended December 31, 2008, and elected
to defer to a subsequent meeting a determination regarding long-term incentive
awards.
Details
of the Committee's actions are set forth below:
Officer
|
2008
Base Salary
|
Cash
Bonus
|
Restricted
Stock
Award
|
|
|
|
|
Robert
J. Attea,
Chief
Executive Officer
|
$405,964
|
$64,761
|
2,020
1
shares
|
Kenneth
F. Myszka,
Chief
Operating Officer
|
$395,279
|
$63,056
|
1,966
2
shares
|
David
L. Rogers,
Chief
Financial Officer
|
$395,279
|
$63,056
|
1,966
3
shares
|
|
|
(1)
|
Vests
50% per year over 2 years.
|
|
|
(2)
|
Vests
25% per year over 4 years.
|
|
|
(3)
|
Vests
14.28% per year over 7 years.
|
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2 -
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, as amended, the
Registrant has duly caused this Report to be signed on its behalf by the
undersigned, thereunto duly authorized.
Date: February
29, 2008
|
SOVRAN
SELF STORAGE, INC.
By
/s/ DAVID L.
ROGERS
Name: David
L. Rogers
Title: Chief
Financial Officer
|
|
|
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3 -
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