Unassociated Document
FORM
6-K
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
Report
of Foreign Issuer
Pursuant
to Rule 13a-16 or 15d-16 of
the
Securities Exchange Act of 1934
For
the
month of May, 2008
Commission
File Number: 001-33356
Gafisa
S.A.
(Translation
of registrant’s name into English)
Av.
Nações Unidas No. 8501, 18th floor
São
Paulo, SP, 05477-000
Federative
Republic of Brazil
(Address
of principal executive office)
Indicate
by check mark whether the registrant files or will file annual reports under
cover of Form 20-F or Form 40-F:
Indicate
by check mark if the registrant is submitting the Form 6-K in paper as permitted
by Regulation S-T Rule 101(b)(1):
Indicate
by check mark if the registrant is submitting the Form 6-K in paper as permitted
by Regulation S-T Rule 101(b)(7):
Indicate
by check mark whether by furnishing the information contained in this Form,
the
Registrant is also thereby furnishing the information to the Commission pursuant
to Rule 12g3-2(b) under the Securities Exchange Act of 1934:
If
“Yes”
is marked, indicate below the file number assigned to the registrant in
connection with Rule 12g3-2(b): N/A
São
Paulo, May 30, 2008
Dear
Shareholder,
Reference
is made to the Stock Option Plan, which is to be submitted to the Extraordinary
General Meeting to be held on June 18, 2008, in order to make the following
brief comments.
With
the
purpose of attracting and retaining executives of the Company and its
affiliates, Gafisa S.A. approved a Stock Option Plan on February 3, 2006
(“Plan”),
granting to its managers and key employees the opportunity of becoming
shareholders of the Company. During the 2 years the Plan has been in
force, the
beneficiaries have raised doubts regarding the implementation of certain
provisions of the Plan. With the purpose of making the Plan easier to
understand, the Company’s management has decided to reformulate the Plan’s
wording to make it clearer and more transparent.
Moreover,
Gafisa S.A. understood that some specific conditions of the Plan were
not
consistent with the conditions of Stock Option Plans of other competing
companies which operate in the real estate segment, who offer to their
executives Plans with different structures, more attractive to the
beneficiaries, easily reaching the purported objectives.
Considering
these premises, Gafisa S.A. submits to you a proposal for the reformulation
of
the Plan. It is the understanding of the management of Gafisa S.A. that
such
proposal is in line with the purposes of the Plan, which are to foster
integration of executives and employees to the company, create incentives
to
their retention and, consequently, to align the interests of the shareholders
to
the interests of the company.
We
remain
at you entire disposal to provide any additional clarification you may
require.
Sincerely
yours,
Gafisa
S.A.