Current Report Filing (8-k)
April 28 2020 - 06:21AM
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): April 24,
2020
LUBY’S, INC.
(Exact name of registrant as specified in its charter)
Delaware
(State or other jurisdiction of incorporation)
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1-8308 |
74-1335253 |
(Commission File Number) |
(I.R.S. Employer Identification No.) |
13111 Northwest Freeway, Suite 600 Houston, Texas |
77040 |
(Address of principal executive offices) |
(Zip Code) |
Registrant’s telephone number, including area code:
(713) 329-6800
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:
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))
Securities registered pursuant to Section 12(b) of the
Act:
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Title of each class |
Trading Symbol(s) |
Name of each exchange at which registered |
Common Stock ($0.32 par value per share) |
LUB |
New York Stock Exchange |
Common Stock Purchase Rights |
N/A |
New York Stock Exchange |
Indicate by check mark whether the registrant is an emerging growth
company as defined in Rule 405 of the Securities Act of 1933
(§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange
Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ¨
If an emerging growth company, indicate by check mark if the
registrant has elected not to use the extended transition period
for complying with any new or revised financial accounting
standards provided pursuant to Section 13(a) of the Exchange
Act.¨
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Item 5.02 |
Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of
Certain Officers. |
On April 24, 2020 (the “Agreement Date”), Kennedy Scott Gray and
Luby's, Inc. (the “Company”) entered into a Final Separation
Agreement and Release (the “Agreement”) pursuant to which Mr. Gray
is entitled to receive the following payments and benefits under
the Agreement:
•severance
pay in an amount equal to $105,230.72 payable in equal bi-weekly
installments over a period of 26 weeks following April 4, 2020 (the
“Severance Period”);
•continued
participation in the group medical insurance maintained by the
Company upon the same terms and conditions in effect for active
employees of the Company until the expiration of the Severance
Period at a cost to the Company not to exceed
$13,234.14;
•the
immediate vesting of 31,028 Restricted Stock Units previously
granted on December 8, 2017;
•the
immediate vesting of 37,720 shares of Incentive Stock Options
having a strike price of $2.82 per share previously granted on
December 8, 2017 and the extension of the expiration of such
options until April 4, 2022; and
•the
extension of the expiration of 45,946 shares of Non-Qualified Stock
Options having a strike price of $2.82 per share previously granted
on December 8, 2017 until April 4, 2022.
Pursuant to the Agreement, Mr. Gray has agreed to release all
claims against the Company and its affiliates.
Under the terms of the Agreement, Mr. Gray could have revoked the
Agreement for a period of seven days after April 14, 2020, the date
Mr. Gray executed the Agreement. The Agreement became effective on
April 24, 2020 when the Company counter-signed the
Agreement.
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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Date: April 27, 2020 |
LUBY’S, INC. |
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By: |
/s/ Christopher J. Pappas |
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Christopher J. Pappas |
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President and Chief Executive Officer |
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