Matrixx Initiatives 8-K 2007
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
PURSUANT TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): February 9, 2007
MATRIXX INITIATIVES, INC.
(Exact Name of Registrant as Specified in its Charter)
4742 N. 24th Street, Suite 455, Phoenix, Arizona 85016
(Address of principal executive offices)
(Registrants telephone number, including area code)
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:
TABLE OF CONTENTS
Item 5.02. Departure of Directors or Principal Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On February 9, 2007, the Compensation Committee of the Board of Directors of Matrixx Initiatives, Inc. (the Company) approved two separate restricted stock grants to the following named executive officers included in the Companys proxy statement relating to its May 11, 2006 annual meeting of shareholders (the Named Executive Officers):
On February 9, 2007, the Compensation Committee also approved a bonus plan for the fiscal year ended March 31, 2008 (the 2008 Plan) (see Item 5.03 below for a discussion of the change of the Companys fiscal year). The 2008 Plan is based on the Companys achievement of specified revenue and earnings levels for fiscal year 2008. In addition, if the Company achieves specified revenues and earnings during the fiscal quarter ended March 31, 2007, any awards earned under the 2008 Plan will be increased by twenty-five percent. The 2008 Plan incentive award opportunities (expressed as a percentage of the Named Executive Officers 2007 base salary) are as follows:
Item 5.03. Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year.
On February 9, 2007, the Board of Directors of the Company approved a change in the Companys fiscal year end from December 31 to March 31. In March 2007 the Company will file a Report on Form 10-K for its fiscal year ended December 31, 2006. In June 2007 the Company will file a transition report on Form 10-K for the period January 1, 2007 to March 31, 2007.
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.
Date: February 15, 2007