Business Context and Reporting Period
This Form 8-K filing by EnerSys (Commission File Number 1-32253) reports corporate governance events regarding executive compensation plans. The report covers events occurring on December 3, 2007, and February 22, 2008, with the document signed on February 28, 2008.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on the establishment and termination of Rule 10b5-1 trading plans for executive stock options.
Material Changes
The filing details the following changes in executive trading arrangements:
- Termination: On December 3, 2007, John D. Craig (Chairman, President, and CEO) terminated his previously established Rule 10b5-1 trading plan, which was set to run from September 22, 2007, to August 22, 2008.
- New Plans: On February 22, 2008, new Rule 10b5-1 trading plans were entered into by the following officers:
| Officer | Title | Security Type | Plan Period |
|---|---|---|---|
| John D. Craig | Chairman, President, and CEO | Options | 03/23/2008 to 03/23/2009 |
| Michael T. Philion | Executive Vice President, Finance and CFO | Options | 03/23/2008 to 08/22/2008 |
Mr. Philion's prior plan had been fully executed prior to the new plan's inception.
Guidance, Outlook, and Risks
The filing states that all plans comply with the Company's insider trading policy, Rule 10b5-1 under the Securities Exchange Act of 1934, and the restrictions set forth in the 2004 Securityholder Agreement. Future transactions under these plans will be disclosed via Form 144 and/or Form 4 filings. No financial guidance, outlook, or specific risk factors regarding operations are provided in this text.
Investor Verification Checklist
- Verify the specific terms and minimum price triggers for the new Rule 10b5-1 plans in subsequent Form 4 filings.
- Confirm the execution status of Michael T. Philion's prior plan as stated in the filing.
- Review the 2004 Securityholder Agreement (Exhibit 4.2 to Amendment No. 4 to Form S-1) to understand the specific sales restrictions referenced.