nwl8k.htm
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UNITED
STATES
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SECURITIES
AND EXCHANGE COMMISSION
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WASHINGTON,
D.C. 20549
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FORM
8-K
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CURRENT
REPORT
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Pursuant
to Section 13 or 15(d) of
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the
Securities Exchange Act of 1934
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Date
of Report (Date of Earliest Event Reported) August 22,
2008
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NATIONAL
WESTERN LIFE INSURANCE COMPANY
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(Exact
Name of Registrant as Specified in Its Charter)
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COLORADO
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84-0467208
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(State
or Other Jurisdiction of Incorporation)
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(I.R.S.
Employer Identification Number)
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2-17039
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(Commission
File Number)
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850
EAST ANDERSON LANE, AUSTIN, TEXAS
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78752-1602
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(Address
of Principal Executive Offices)
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(Zip
code)
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(512)
836-1010
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(Registrant's
Telephone Number, Including Area Code)
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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:
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[ ]
Written communications pursuant to Rule 425 under the Securities Act (17
CFR 230.425)
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[ ]
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
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Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act
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(17
CFR 240.14d-2(b))
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Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act
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(17
CFR 240.13e-4(c))
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Item
1.01. Entry into a Material Definitive Agreement.
On August
22, 2008, National Western Life Insurance Company (“Company”) authorized
management to prepare, devise and implement a limited stock buy-back program
relating to the National Western Life Insurance Company 2008 Incentive Plan
(“Plan”) which was adopted by the Company’s stockholders at the June 20, 2008
annual shareholders meeting.
The
limited stock buy-back program, adopted by the Company effective August 22,
2008, provides option holders the additional alterative of selling shares
acquired through the exercise of options directly back to the
Company. Option holders may elect to sell such acquired shares back
to the Company at any time within ninety (90) days after the exercise of options
at the prevailing market price as of the date of notice of
election. The buy-back program for the 2008 Plan replicates a
previous buy-back program adopted by the Company relating to the Company’s 1995
Stock Option and Incentive Plan.
The
buy-back program did not alter the terms and conditions of the
Plan.
Item
5.02. Departure of Directors or Certain Officers; Election of
Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain
Officers.
On August
21, 2008, the Compensation and Stock Option Committee of the Company approved
the 2008 Marketing Officer Bonus Programs ("Bonus Programs"). These
Bonus Programs are designed to provide additional compensation based on the
Company achieving certain performance and profit criteria so that executives are
held accountable through their compensation for the performance of the
business. Participants in the Bonus Programs are the following
individuals:
National
Western Life Insurance Company 2008 Domestic Marketing Officer Bonus
Program
Senior
Vice President, Chief Domestic Marketing Officer, S. Christopher
Johnson
Vice
President, Paul T. Garofoli
Vice
President, C. Scott Blundo
Vice
President, Gary L. Fischer
Assistant
Vice President, Lura L. Rogers
National
Western Life Insurance Company 2008 International Marketing Officer Bonus
Program
Senior
Vice President, Chief International Marketing Officer, Scott E.
Arendale
Vice
President, Miguel A. Laborde
Assistant
Vice President, Jonatan Alkalay
The Bonus
Programs are in effect for the year ending December 31, 2008. Amounts
earned under the Domestic Marketing Officer Bonus Program and International
Marketing Officer Bonus Program may be paid as frequently as
quarterly.
Item
8.01. Other Events.
On August
22, 2008, the Board of Directors of National Western Life Insurance Company
declared a cash dividend payable November 28, 2008 to stockholders on record as
of October 31, 2008. The dividends declared were $0.36 per common
share to Class A stockholders and $0.18 per common share to Class B
stockholders.
Item 9.01. Financial Statements and
Exhibits.
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(d)
Exhibits
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Exhibit
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Number
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Description
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10(br)
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National
Western Life Insurance Company 2008 Domestic Marketing Officer Bonus
Program
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10(bs)
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National
Western Life Insurance Company 2008 International Marketing Officer Bonus
Program
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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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NATIONAL
WESTERN LIFE INSURANCE COMPANY
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Date:
August 26, 2008
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By:
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/S/
Brian M. Pribyl
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Brian
M. Pribyl
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Senior
Vice President
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Chief
Financial & Administrative Officer
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and
Treasurer
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