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): April 27, 2011
Penford Corporation
(Exact name of registrant as specified in its charter)
|
|
|
|
|
Washington
(State or other jurisdiction
of incorporation)
|
|
0-11488
(Commission File Number)
|
|
91-1221360
(IRS Employer
Identification No.) |
|
|
|
7094 South Revere Parkway, |
|
|
Centennial, Colorado
(Address of principal
executive offices)
|
|
80112-3932
(Zip Code) |
303-649-1900
(Registrants telephone number, including area code)
Not Applicable
(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:
|
|
|
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))
|
|
|
|
Item 5.02 |
|
Departure of Directors or Certain Officers; Election of Directors; Appointment of
Certain Officers; Compensatory Arrangements of Certain Officers. |
On April 27, 2011, the Companys Board of Directors approved the payment of discretionary bonuses
to the Companys salaried employees, including the Companys named executive officers. The
discretionary bonus payments reflect the Boards desire to retain and motivate employees and reward
them for contributions to the Companys performance. As previously reported, the Company did not
pay bonuses under its fiscal year 2010 executive bonus program and did not implement an executive
bonus structure for fiscal year 2011. In connection with the award of discretionary bonuses to
salaried employees, the following bonuses were awarded to named executives: Mr. Malkoski,
$173,500; Mr. Cordier, $85,000; Mr. Kortemeyer, $35,000; Mr. Randall, $50,000; and Mr. Lawlor,
$30,000.
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 thereunto duly authorized.
|
|
|
|
|
|
Penford Corporation
(Registrant)
|
|
May 2, 2011 |
/s/ Steven O. Cordier
|
|
|
Steven O. Cordier |
|
|
Sr. Vice President &
Chief Financial Officer |
|
|