Pride International 8-K 2005
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Pride International, Inc.
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:
[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
Item 1.01 Entry into a Material Definitive Agreement.
Effective July 1, 2005, Pride increased the base salaries for all of its executive officers, other than one recently hired executive. Pride also increased the 2005 target bonuses under Pride’s annual incentive compensation plan for certain of its executive officers. Exhibit 10.1 to this report, which is incorporated herein by reference, sets forth a summary of certain executive officer and director compensation arrangements, including the salary and 2005 target bonus amounts for the executive officers employed by Pride on July 1, 2005 who are named in the Summary Compensation Table included in Pride’s proxy statement for its 2005 annual meeting of stockholders.
Item 9.01 Financial Statements and Exhibits.
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.