- Current report filing (8-K)
November 26 2008 - 3:05PM
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)
November
24, 2008
|
Monaco
Coach Corporation
|
(Exact
name of Registrant as specified in its charter)
|
Delaware
|
1-14725
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35-1880244
|
(State
or other jurisdiction of
incorporation
or organization)
|
(Commission
File Number)
|
(I.R.S.
Employer
Identification
Number)
|
|
91320
Industrial Way,
Coburg,
Oregon 97408
|
|
(Address
of principal executive offices, including Zip Code)
|
|
(541)
686-8011
|
|
(Registrant’s
telephone number, including area code)
|
|
(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.
below):
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))
|
Section 5
– Corporate Governance and Management
Item
5.02 – Departure of Directors or Principal Officers; Election of Directors;
Appointment of Principal Officers; Compensatory Arrangements of Certain
Officers
Effective
November 24, 2008, Monaco Coach Corporation (“Monaco”) instituted company-wide
pay reductions for its salaried employees, including its executive pay
group. For the executive pay group, these reductions, which ranged
from 20% to 40% of base salary, were in addition to the reductions that were
implemented in July 2008 under the Executive Pay Reduction Program that was
described in Monaco’s Current Report on Form 8-K filed with the Securities and
Exchange Commission on July 22, 2008. Monaco has also terminated the
Executive Pay Reduction Program. When Monaco returns to
profitability, Monaco’s Compensation Committee will consider whether any of the
compensation that was eliminated through these reductions should be restored or
paid.
The table
below sets forth the new base salaries for the listed executive
officers:
|
|
|
|
|
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Kay
L. Toolson, Chairman of the Board and
Chief
Executive
Officer
|
|
$360,173
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John
W. Nepute,
President
|
|
$228,880
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P.
Martin Daley, Vice President and
Chief
Financial
Officer
|
|
$190,215
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Richard
E. Bond, Senior Vice President, Secretary and Chief Administrative
Officer
|
|
$187,325
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Michael
P. Snell, Vice President of Sales and Marketing
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$189,359
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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 hereunto
duly authorized.
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|
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MONACO
COACH CORPORATION
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|
|
|
|
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Date: November
26, 2008
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By:
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/s/
P. Martin Daley
|
|
|
|
P.
Martin Daley
Vice
President and Chief Financial
Officer
|
2
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