Matrixx Initiatives 8-K 2008
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
CURRENT REPORT PURSUANT
TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported) May 8, 2008
MATRIXX INITIATIVES, INC.
(Exact Name of Registrant as Specified in Its Charter)
(State or Other Jurisdiction of Incorporation)
(Registrants Telephone Number, Including Area Code)
(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):
TABLE OF CONTENTS
Item 2.02. Results of Operations and Financial Condition
On May 12, 2008, Matrixx Initiatives, Inc. issued a press release announcing its financial results for the fiscal quarter and year ended March 31, 2008. A copy of the press release is attached to this Report as Exhibit 99.1.
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On May 8, 2008, the Compensation Committee of the Board of Directors of Matrixx Initiatives, Inc. ( Company ) approved for the fiscal year beginning April 1, 2008 the following annual base salaries for the Companys principal executive officer, principal financial officer and the other two of the Companys named executive officers included in the Companys proxy statement relating to its May 15, 2007 annual meeting of shareholders (the Named Executive Officers ):
Also, on May 8, 2008, the Compensation Committee approved the following grants of restricted stock to the Named Executive Officers:
Lastly, on May 8, 2008, the Compensation Committee approved a cash bonus plan for the fiscal year ended March 31, 2009 (the 2009 Plan ). The 2009 Plan is based on the
Companys achievement of specified revenue and earnings levels for fiscal year 2009. The 2009 Plan cash incentive award opportunities (expressed as a percentage of the Named Executive Officers Base Salary, indicated above) are as follows:
Item 9.01. Financial Statements and Exhibits
10.1 Form of Restricted Stock Award Agreement (Time Vesting)
99.1 Press Release of Matrixx Initiatives, Inc. dated May 12, 2008 entitled Matrixx Initiatives, Inc. Announces Fiscal 2008 Revenue of $101 Million and Net Income Growth of 59% to $10.4 Million, or $1.04 Earnings Per Share versus $0.66 in the Prior Year
Pursuant to the requirements of the Securities and Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: May 12, 2008