Graco Inc - Current report filing (8-K)
October 04 2007 - 4:19PM
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):
September 28, 2007
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Graco Inc.
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(Exact name of registrant as specified in
its charter)
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Minnesota
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001-9249
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41-0285640
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(State or other jurisdiction
of incorporation)
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(Commission
File Number)
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(I.R.S. Employer
Identification No.)
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88-11th Avenue Northeast
Minneapolis, Minnesota
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55413
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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:
(612) 623-6000
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Not Applicable
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(Former name or former address, if changed since
last report)
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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:
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Written communications pursuant to Rule-425 under the Securities Act (17 CFR 230.425)
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
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Item 5.02 Departure of Directors or Principal Officers;
Election of Directors; Appointment of Principal Officers.
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(c)
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At its meeting on September 28, 2007, the Board of Directors of Graco Inc. (the
Company), pursuant to a recommendation made by its Management
Organization and Compensation Committee (Committee), appointed
Caroline M. Chambers principal accounting officer of the Company, effective that
date. She will serve in that capacity for disclosure purposes under the federal
securities laws. With such appointment, Ms. Chambers is deemed to be an
executive officer of the Company within the meaning of the federal securities
laws and an officer of the Company within the meaning of Section 16
of the Securities Exchange Act of 1934.
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Ms.
Chambers has served as the Companys Vice President and Controller since
December 8, 2006. Prior to her election as Vice President and
Controller, she was the Corporate Controller. She served as the
Director of Information Systems from June 2003 to her appointment as
Controller in September 2005; as Internal Audit Manager from 2000 to
2004; and Controller of the Companys European operations from
1994 to 2000. Ms. Chambers joined the Company in 1992 as a management
accountant. Ms. Chambers does not have an employment agreement with
the Company. In the event of Board action on the recommended
appointment, the Committee authorized the President and Chief
Executive Officer to execute a Key Employee Agreement with Ms.
Chambers on behalf of the Company, effective as of September 27,
2007, in substantially the same form as previously executed with each
of the Companys other executive officers. As previously disclosed in
the Companys proxy statement, it is the Companys practice
to pay base salary to executive officers whose employment is
involuntarily terminated until the earlier of twelve months from the
date of termination or the date the officer obtains other employment.
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None
of the Companys current directors or executive officers has a family relationship
with Ms. Chambers. There have been no related party transactions as defined in Item 404(a)
of Regulation S-K between Ms. Chambers and the Company since the beginning of the
Companys last fiscal year and none are currently proposed.
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Signature
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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GRACO INC.
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Date:
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October 4, 2007
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By:
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/s/Karen P. Gallivan
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Karen P. Gallivan
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Its:
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Vice President, General Counsel and Secretary
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