Business Context and Reporting Period
This Form 8-K Current Report was filed by Apogee Enterprises, Inc. on October 20, 2005. The filing discloses the entry into a material definitive agreement and the appointment of a principal officer. The report details the hiring of Daniel R. Mayleben as Chief Information Officer, effective October 31, 2005.
Key Financial Metrics
The filing does not provide revenue, profit, cash flow, margins, debt, or liquidity metrics. The document focuses exclusively on executive compensation terms:
- Annual Salary: $250,000
- Target Cash Bonus: 37.5% of base salary (maximum potential 56.25%)
- Equity Grant: 4,000 restricted shares vesting in full in April 2008
- Car Allowance: $9,744 per year
- Other Benefits: Up to $2,000 for financial counseling, $6,000 one-time estate planning allowance, four weeks vacation, and semi-annual executive physicals.
Material Changes
The primary material change reported is the appointment of Daniel R. Mayleben as Chief Information Officer. Mr. Mayleben joins from HighJump Software, where he served as Chief Financial Officer since 2003. The filing confirms there are no undisclosed arrangements regarding his selection and no material interest in proposed transactions exceeding $60,000.
Guidance, Outlook, and Risks
The filing contains no financial guidance, outlook, or management commentary regarding future business performance. No specific risks or contingencies are disclosed in this report other than the standard disclosure that the bonus is subject to the Company's financial performance and agreed-upon personal objectives.
Investor Verification Checklist
- Verify the start date of Daniel R. Mayleben's employment (October 31, 2005).
- Confirm the vesting schedule for the 4,000 restricted shares (full vesting in April 2008).
- Review the attached press release (Exhibit 99.1) for additional context on the appointment.
- Note that this filing does not contain updated financial results; refer to the most recent 10-Q or 10-K for financial metrics.