8-K 1 escalade_8k.txt FORM 8-K UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 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) March 07, 2006 ------------------------------- ESCALADE, INCORPRATED -------------------------------------------------------------------------------- (Exact Name of Registrant as Specified in Its Charter) Indiana -------------------------------------------------------------------------------- (State or Other Jurisdiction of Incorporation) 0-6996 13-2739290 -------------------------------------------------------------------------------- (Commission File Number) (IRS Employer Identification No.) 251 Wedcor Avenue, Wabash, Indiana 46992 46992 -------------------------------------------------------------------------------- (Address of Principal Executive Offices) (Zip Code) (260) 569-7208 -------------------------------------------------------------------------------- (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 1 - Registrant's Business and Operations Item 1.01 Entry into a Material Definitive Agreement. On March 6, 2006, the compensation committee met and reviewed the annual compensation of Escalade key executives. The compensation committee then met with the other independent directors and unanimously approved the following annual base salaries for 2006: Officer Title Annual Base Salary ----------------------------------------------------------------------------- C. W. (Bill) Reed President and CEO $275,000 Terry Frandsen VP Finance, CFO $175,000 Robert Griffin Chairman of Board $ 52,000 In the same meeting the independent directors granted stock options under the 1997 Incentive Stock Option plan to Mr. Reed in the amount of 20,000 and Mr. Frandsen in the amount of 25,000 shares. Under the terms of the option plan the options vest in equal installments over a period of four years from the date of grant. The exercise price is equal to the market closing price on the date of grant. Section 8 - Other Events Item 8.01 Other Events. On March 06, 2006, the Company issued a press release announcing that an annual dividend of $0.20 would be paid to all shareholders of record on March 17, 2006 and disbursed on March 24, 2006. Section 9 - Financial Statements and Exhibits Item 9.01 Financial Statements and Exhibits (c) Exhibits EXHIBIT NUMBER DESCRIPTION 99.1 Press release dated March 06, 2006 SIGNATURES Pursuant to the requirements of the Securities Act of 1934, Escalade, Incorporated has duly caused this report to be signed on its behalf in Wabash, Indiana by the undersigned hereunto duly authorized. Date: March 07, 2006 ESCALADE, INCORPORATED By: /s/ TERRY D. FRANDSEN ------------------------------------------ Vice President and Chief Financial Officer 2