kensmith.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) June 30,
2010
Alico,
Inc.
(Exact
name of registrant as specified in its charter)
Florida
(State or
other jurisdiction of incorporation)
0-261
(Commission
File Number)
59-0906081
(IRS
Employer Identification No.)
Post
Office Box 338
LaBelle,
Florida
(Address
of principal executive offices)
33975
(Zip
Code)
(863)
675-2966
(Registrant’s
telephone number, including area code)
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 (see General Instruction A.2.):
[ ]
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))
[Missing Graphic Reference]
Item
5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain
Officers.
Dr.
Ken Smith appointed as Executive Vice-President and Chief Operating
Officer.
Effective
July 1, 2010, the Company appointed Dr. Ken Smith to the position of Executive
Vice-President and Chief Operating Officer. His appointment was
announced in a press release issued on June 30, 2010, which is attached hereto
as Exhibit 99.1. Dr. Smith will receive a regular base salary of
$285,000 annually and remains eligible for an annual incentive bonus under the
Company’s discretionary bonus plan. Dr. Smith will additionally
receive a housing allowance of $2,500 per month for twelve months, and a company
vehicle under the terms of his employment. Dr. Smith will be
available to consult with Atlanticblue Group, Inc., the Company’s majority
shareholder, as needed during a transition period of up to six
months. Atlanticblue will reimburse Alico for Dr. Smith’s services
during this time.
Alico’s
Board provides compensation to JD Alexander
Also
effective July 1, 2010, Alico’s Board of Directors approved a compensation
package for JD Alexander, its President and Chief Executive
Officer. Mr. Alexander had been serving in this capacity since
February 23, 2010 without compensation. Under the terms of the
package, Mr. Alexander will receive an annual salary of $190,000 and remains
eligible for an annual incentive bonus under the Company’s discretionary bonus
plan. Additionally, the Board voted to amend its director
compensation plan to allow for Mr. Alexander to continue receiving director fees
for his continued service on the Board. Mr. Alexander will continue
to serve as the CEO of both Alico, Inc. and Atlanticblue Group Inc., Alico’s
majority shareholder.
Item
9.01. Financial Statements and Exhibits
(c) Exhibits.
Exhibit
99.1 Press release, dated June 30, 2010, announcing the appointment of Dr. Ken
Smith as Executive Vice-President and Chief Operating Officer.
[Missing Graphic Reference]
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.
ALICO,
INC.
By: /s/ Patrick W.
Murphy
Patrick
W.
Murphy
Senior
Vice President and
Chief
Financial
Officer
Dated: June
30, 2010
[Missing Graphic Reference]
EXHIBIT
INDEX
Exhibit
No. Exhibit
|
99.1
|
Press
release, dated June 30, 2010, announcing the appointment of Dr. Ken Smith
as Executive Vice-president and Chief Operating
Officer.
|