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) July 23, 2009
Hibbett Sports,
Inc.
(Exact
Name Of Registrant As Specified In Its Charter)
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Delaware
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000-20969
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20-8159608
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(State
of Incorporation)
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(Commission
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(IRS
Employer
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File
Number)
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Identification
No.)
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451
Industrial Lane
Birmingham,
Alabama 35211
(Address
of principal executive offices)
(205)
942-4292
(Registrant’s
telephone number, including area code)
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))
Item
5.02. Departure of Directors or Certain Officers; Election of
Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain
Officers.
(e) On July 23, 2009,
Hibbett Sports, Inc. (Company) announced the hiring of Ms. Rebecca Jones as the
Company’s new Vice-President of Merchandising. The Company also
confirmed a base salary for Ms. Jones for fiscal year 2010 of $265,000
(annualized). At the same time, the Company established a guaranteed
cash bonus of $99,375 for fiscal year 2010. The Company shall also
pay Ms. Jones up to $65,000 in relocation expenses as well as temporary housing
expenses for up to two hundred seventy (270) days.
In connection with Ms. Jones’ hiring,
the Company authorized the award of restricted stock units (RSUs) worth $99,375
under the 2005 Equity Incentive Plan to be granted on the first day of the
Company’s fiscal quarter following Ms. Jones’ employment. The number
of RSU’s awarded will be based on the closing stock price on the first day of
the Company’s fiscal quarter following Ms. Jones’ employment and will be subject
to five (5) year cliff vesting based on continuous employment with the Company
five years from the date of grant.
In addition, Ms. Jones will be eligible
to receive payments under the Company’s Change in Control Severance Agreement
(Agreement) upon a Change in Control as defined within the Agreement and as
described in the Company’s Proxy Statement filed on April 27, 2009.
The Fiscal 2011 bonus and equity
compensation will be based on 75% of Ms. Jones’ Fiscal 2011 base salary and
subject to achievement of performance goals set by the Company’s Compensation
Committee. The terms above are based on an expected start date of
August 24, 2009.
A copy of the Company’s related press
release is attached hereto as Exhibit 99.1.
Item
7.01. Regulation FD Disclosures.
A copy of
a press release relating to the hiring of Ms. Jones is attached to this report
as Exhibit 99.1 and is incorporated herein by reference.
The information in this Item, including
Exhibit 99.1 attached hereto, shall not be deemed “filed” for the purposes of
Section 18 of the Securities Exchange Act of 1934, or otherwise subject to the
liabilities of that section. It may be incorporated by reference in
another filing under the Exchange Act or Securities Act of 1933 if such
subsequent filing specifically references this Form 8-K.
Item
9.01. Financial Statements and Exhibits.
(d) Exhibits
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Exhibit
No.
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Description
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99.1
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Press
Release Dated July 23, 2009
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SIGNATURE
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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HIBBETT
SPORTS, INC.
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By:
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/s/
Gary A. Smith
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Gary
A. Smith
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Vice
President and Chief Financial
Officer
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July 23,
2009
EXHIBIT
INDEX
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Exhibit
No.
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Description
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99.1
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Press
Release Dated July 23, 2009
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