ESCALADE INC — Board/Management Information 2008

Dec 31, 2008

8-K 1 escalade_8k.htm FORM 8-K

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 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 31, 2008

ESCALADE, INCORPORATED
(Exact Name of Registrant as Specified in Its Charter)
Indiana
(State or Other Jurisdiction of
Incorporation)
0-6996	13-2739290
(Commission File Number)	(IRS Employer Identification No.)
817 Maxwell Ave, Evansville, Indiana	47711
(Address of Principal Executive Offices)	(Zip Code)
(812) 467-1334
(Registrant’s
Telephone Number, Including Area Code)
(Former Name or Former Address, if Changed Since
Last Report)

MARKER FORMAT-SHEET="Para Indent" FSL="Default"

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)) |

Section 5 — Corporate Governance and Management

Item 5.02 — Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers

In an effort to help mitigate the effects of deteriorating business conditions, the independent members of the Board of Directors, after reviewing recommendations from the Compensation Committee, approved the following executive compensation reductions to be effective January 1, 2009:

• Base compensation will be reduced as follows:

Officer	Title	2008 Annual Base Salary	2009 Annual Base Salary
Robert Keller	President and CEO	$ 300,000	$ 270,000
Terry Frandsen	VP Finance, CFO	$ 187,000	$ 159,300
Robert Griffin	Chairman of Board	$ 53,500	$ 50,599

• 401 (k) matching contributions will be reduced by 75%

MARKER FORMAT-SHEET="Para Flush" FSL="Default"

The independent members of the Board of Directors also approved a 10% reduction in director compensation effective January 1, 2009.

SIGNATURES

MARKER FORMAT-SHEET="Para Flush" FSL="Default"

Pursuant to the requirements of the Securities Act of 1934, Escalade, Incorporated has duly caused this report to be signed on its behalf in Wabash, Indiana by the undersigned hereunto duly authorized.

Date: December 31, 2008
By:	/s/ Terry D. Frandsen
	Vice President and Chief Financial Officer

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