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 18, 2008
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SPACEHAB, Incorporated |
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(Exact name of registrant as specified in its charter) |
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Washington |
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0-27206 |
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91-1273737 |
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(State or other jurisdiction |
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(Commission |
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(IRS Employer |
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of incorporation) |
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File Number) |
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Identification No.) |
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12130 State Highway 3, Building 1, Webster, Texas |
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77598 |
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(Address of principal executive offices) |
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(Zip Code) |
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Registrant’s telephone number, including area code (713) 558-5000
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(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. below):
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Section 5 - Corporate Governance and Management
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On July 18, 2008, the Compensation Committee of SPACEHAB, Incorporated approved fiscal year 2009 (which commenced July 1, 2008) cash and equity compensation adjustments and awards, including the following for named executive officers.
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Named and Principal Position |
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Base |
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Increase |
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Stock |
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Cash |
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Option |
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Thomas B. Pickens, III |
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$ |
360,000 |
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0 |
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1,100,000 |
(1) |
$ |
350,000 |
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100,000 |
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James D. Royston |
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$ |
210,000 |
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16.7 |
% |
200,000 |
(2) |
$ |
0 |
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75,000 |
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Lance W. Lord |
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$ |
175,000 |
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New Position |
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50,000 |
(2) |
$ |
0 |
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87,500 |
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Brian K. Harrington |
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$ |
225,000 |
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0 |
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150,000 |
(2) |
$ |
0 |
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50,000 |
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(1) Represents a grant of unrestricted stock.
(2) Restricted stock vesting 50% on January 15, 2009, 25% on January 15, 2010, and 25% on January 15, 2011.
(3) Options vest on January 15, 2009 and terminate on July 17, 2010.
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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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SPACEHAB, Incorporated |
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Date: July 24, 2008 |
By: |
/s/ Brian K. Harrington |
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Brian K. Harrington |
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Senior Vice President, Chief Financial Officer, Secretary and Treasurer |
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