Pinnacle Entertainment, Inc. 8-K 2008
Date of Report (Date of earliest event reported): December 24, 2008
Registrant’s telephone number, including area code: (702) 784-7777
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:
communications pursuant to Rule 425 under the Securities Act (17 CFR
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Bonuses Awarded to Certain Executive Officers
On December 24, 2008, the Compensation Committee of Pinnacle Entertainment, Inc. (the Company) approved 2008 cash bonuses and deferred bonuses for most executive officers of the Company not including Daniel R. Lee, the Companys Chairman of the Board and Chief Executive Officer, whose bonus will be determined by the Compensation Committee at a later time when year-end results are available. The deferred portion of the 2008 bonuses were awarded under the Deferred Bonus Plan, a summary of which was filed as Exhibit 10.56 to the Companys Form 10-K/A filed with the Securities and Exchange Commission on May 9, 2005. The deferred bonuses are deferred and paid in three equal annual installments beginning in December 2009, provided that the executive officer is employed by the Company on the date of payment, except in the event of death, permanent disability or change of control as defined in the executive officers employment agreement. All cash bonuses are expected to be paid on or about December 31, 2008, except for amounts that any executive officer may have elected to defer under the Companys other benefit plans.
In determining annual bonuses, the Companys Compensation Committee evaluates many factors, including the performance of the Company, competitive considerations and the performance of the individual in his specific area of responsibility. The following are the cash bonuses and deferred bonuses awarded in 2008 and the deferred bonuses awarded in previous years that were paid to those persons disclosed as named executive officers, other than Daniel R. Lee, in the Companys 2008 proxy statement:
Item 9.01. Financial Statements and Exhibits.
Pursuant to the requirements of 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: December 31, 2008
By: /s/ John A.
INDEX TO EXHIBITS