form8ksept182008-2.htm
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) September 18, 2008
_____________
CHARMING
SHOPPES, INC.
(Exact
name of registrant as specified in its charter)
_____________
PENNSYLVANIA
|
000-07258
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23-1721355
|
(State
or other jurisdiction
of
incorporation)
|
(Commission
File Number)
|
(IRS
Employer Identification No.)
|
450
WINKS LANE, BENSALEM, PA
(Address
of principal executive offices)
|
19020
(Zip
Code)
|
Registrant’s
telephone number, including area code: (215) 245-9100
NOT
APPLICABLE
(Former
name or former address, if changed since last report.)
_____________
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.
On
September 18, 2008, the Compensation Committee of the Board of Directors of
Charming Shoppes, Inc. (the “Company”) approved amendments to the executive
severance agreements with three of its named executive officers – Eric M.
Specter, Executive Vice President and Chief Financial Officer, Joseph M. Baron,
Executive Vice President and Chief Operating Officer, and Colin D. Stern,
Executive Vice President and General Counsel (the “Executives”), as well as
other Company executives. The terms of the severance agreements
between the Company and the Executives (the “Agreements”) were previously
disclosed on the Form 8-K filed with the Securities and Exchange Commission on
February 5, 2008, which is hereby incorporated by reference.
Under the
Agreements, an Executive is entitled to receive severance benefits upon a
termination of employment by the Company other than for Cause (as defined in the
Agreements), or upon a termination by the Executive for Good Reason (as defined
in the Agreements) (each a “Qualifying Termination”). The amendment
provides that if a Qualifying Termination occurs prior to January 1, 2010, any
restrictions on the Executive’s outstanding restricted stock units that would
have lapsed on the next two anniversaries of the grant date of the restricted
stock units in the absence of a termination will lapse on an accelerated basis
at the time of such termination of employment, so those restricted stock units
will not be forfeited. All other terms of the Agreements remain
unchanged.
A copy of
the form of amendment to the Agreement is attached hereto as Exhibit 10.1 and is
incorporated herein by reference.
Item
9.01 Financial Statements and Exhibits (c) Exhibits.
SIGNATURES
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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CHARMING SHOPPES,
INC.
|
|
(Registrant)
|
|
|
|
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Date: September
24, 2008
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/S/ ERIC M.
SPECTER
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Eric
M. Specter
|
|
Executive
Vice President
|
|
Chief
Financial Officer
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|
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EXHIBIT
INDEX