8-K 1 a06-5976_18k.htm CURRENT REPORT OF MATERIAL EVENTS OR CORPORATE CHANGES

 

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: March 1, 2006

 

Date of Earliest Event Reported: February 27, 2006

 

The Pep Boys - Manny, Moe & Jack

(Exact name of registrant as specified in charter)

 

Pennsylvania

 

1-3381

 

23-0962915

(State or other jurisdiction of

 

(Commission

 

(I.R.S. Employer ID number)

incorporation or organization)

 

File No.)

 

 

 

 

 

 

 

3111 W. Allegheny Ave. Philadelphia, PA

 

19132

(Address of principal executive offices)

 

(Zip code)

 

215-430-9000

(Registrant’s telephone number, including area code)

 

Not Applicable

(Former name or former address, if changed from 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):

 

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 1.01.  Entry into a Material Definitive Agreement

 

On February 27, 2006, the Board of Directors of The Pep Boys – Manny, Moe & Jack (the “Company”) approved the performance criteria and the relative weighting of each criterion that will be used to determine executive officer cash bonus awards under the Company’s Annual Incentive Bonus Plan for the fiscal year ending February 3, 2007 (“Fiscal Year 2006”).  The Fiscal Year 2006 performance criteria against which each of the executive officers will be measured are as follows:

 

Performance Measure

 

CEO

 

All Other Executive Officers

 

 

 

 

 

 

 

Operating Profit

 

40

%

24

%

Service Center Variable Profit

 

15

%

9

%

Field Management Turnover

 

15

%

9

%

Working Capital

 

15

%

9

%

Service Center Customer Service Index

 

15

%

9

%

Departmental Goals

 

—

 

40

%

 

A copy of the Annual Incentive Bonus Plan was filed as Exhibit 10.27 to the Company’s Annual Report on Form 10-K for the fiscal year ended January 31, 2004 and is incorporated by reference herein.

 

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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.

 

 

THE PEP BOYS - MANNY, MOE & JACK

 

 

 

 

By:

/s/ Harry F. Yanowitz

 

 

 

Harry F. Yanowitz

 

 

Senior Vice President and

 

 

Chief Financial Officer

 

Date:  March 1, 2006

 

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