-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, VVPV3UWCXKATUKgmVAOgUKnL5R+lO/6GNL/NJghq3wzI+P2wCV16sa7XnDTQzNCg SxTUFV3BPsxETkXemdRoWw== 0000950135-06-000019.txt : 20060104 0000950135-06-000019.hdr.sgml : 20060104 20060104160113 ACCESSION NUMBER: 0000950135-06-000019 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20051230 ITEM INFORMATION: Entry into a Material Definitive Agreement FILED AS OF DATE: 20060104 DATE AS OF CHANGE: 20060104 FILER: COMPANY DATA: COMPANY CONFORMED NAME: WELLMAN INC CENTRAL INDEX KEY: 0000812708 STANDARD INDUSTRIAL CLASSIFICATION: PLASTIC MAIL, SYNTH RESIN/RUBBER, CELLULOS (NO GLASS) [2820] IRS NUMBER: 041671740 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-10033 FILM NUMBER: 06507676 BUSINESS ADDRESS: STREET 1: 595 SHREWSBURY AVENUE CITY: SHREWSBURY STATE: NJ ZIP: 07702 BUSINESS PHONE: (732)212-3300 MAIL ADDRESS: STREET 1: P.O. BOX 31331 CITY: CHARLOTTE STATE: NC ZIP: 28231 8-K 1 b58335wke8vk.htm FORM 8-K - WELLMAN, INC. e8vk
 

 
 
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): December 30, 2005
Wellman, Inc.
(Exact name of registrant as specified in its charter)
         
Delaware
(State or other jurisdiction
of incorporation) 		  1-10033
(Commission File Number) 		  04-1671740
(IRS Employer
Identification No.)
     
1041 521 Corporate Center Drive
Fort Mill, South Carolina
(Address of principal executive offices) 		  29715
(Zip Code)
Registrant’s telephone number, including area code: (803) 835-2000
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 1.01. Entry Into a Material Definitive Agreement.
     Wellman, Inc.’s Board of Directors unanimously decided to vest all unvested stock options awarded to employees in August 2003 as of December 30, 2005. One third of the remaining unvested options would have vested in August of 2006, 2007 and 2008. These options were granted under the Wellman, Inc. Amended and Restated 1997 Stock Option Plan and permit employees to purchase 226,980 shares of Wellman common stock at $10.44 per share.
     On December 16, 2004, the Financial Accounting Standards Board issued Statement No. 123(R) that requires public companies to expense stock options on their financial statements. Wellman, Inc. will be required to adopt Statement No. 123(R) for its fiscal year beginning January 1, 2006. Wellman, Inc. estimates that it will not have to record approximately $0.5 million in expense as a result of accelerating its outstanding, unvested options as of December 30, 2005.

2

 

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.
         
  Wellman, Inc.
 		  
January 4, 2006  /s/ Mark J. Ruday    
  Mark J. Ruday    
  Vice President, Chief Accounting Officer and Controller   
 

3

-----END PRIVACY-ENHANCED MESSAGE-----