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) December 27,
2007
Hibbett
Sports, Inc.
(Exact
Name Of Registrant As Specified In Its Charter)
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Delaware
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000-20969
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20-8159608
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(State
of Incorporation)
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(Commission
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(IRS
Employer
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File
Number)
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Identification
No.)
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451
Industrial Lane
Birmingham,
Alabama 35211
(Address
of principal executive offices)
(205)
942-4292
(Registrant’s
telephone number, including area code)
Not
Applicable
(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:
□ Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
□ Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
□ Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
□ Pre
commencement communications pursuant to Rule 13e-4(c) under the Exchange Act
(17
CFR 240.13e-4(c))
Item
1.01. Entry Into a Material Definitive
Agreement.
On
January 2, 2008, Hibbett Sports,
Inc. announced the hiring of Mr. Nissan Joseph as the Company’s new President
and Chief Operating Officer, as further described in Item 5.02(c)
below. The Company also confirmed a base salary for Mr. Joseph for
fiscal year 2009 of $290,000 (annualized). At the same time, the
Company established a target cash bonus of eighty percent of salary for fiscal
year 2009, with no amount of the bonus guaranteed. Target bonuses are
based on the Company’s performance during fiscal year 2009 as well as individual
goals. The Company shall pay Mr. Joseph a signing bonus of $40,000 as
well as temporary housing expenses for up to ninety (90) days.
Also,
in connection with Mr. Joseph’s
hiring, the Company authorized the award of 10,000 restricted stock units
under
the 2005 Equity Incentive Plan to be granted on the first day of the Company’s
fiscal quarter following Mr. Joseph’s employment. The award is
subject to five (5) year cliff vesting.
Item
5.02 Departure of Directors of Principal Officers; Election of
Directors; Appointment of Principal Officers.
(c) (1) On
December 27, 2007, Mr. Joseph, age 43, was appointed by the Company as
President
and Chief Operating Officer, to be effective by early February.
(2) Mr.
Joseph has not previously been employed by the Company and has no family
relationship to any of our officers or directors. For the past four
years, his principal occupation and employment was as President and Chief
Executive Officer of Hickory Brands, Inc., a privately owned manufacturer
of
footwear accessories. Prior to joining Hickory Brands, Mr. Joseph
spent four years with Payless Shoes in Australia where he was General Manager
of
Operations and fourteen years with Footaction USA in Texas where he worked
in
operations positions from store manager to Regional Vice
President. He was chosen as one of the top 25 “Leaders to Watch in
Sporting Goods” by Sports Edge in 2004 and currently serves on several local
Boards of Directors in Hickory, North Carolina.
There
are no transactions between the Company and Mr. Joseph that would be
reportable
under Item 401(a) of the SEC's Regulation S-K (Certain Relationships
and Related
Transactions).
A
copy of
the Company’s related press release is attached hereto as Exhibit
99.1.
Item
7.01. Regulation FD Disclosure.
A
copy of
a press release relating to the hiring of Mr. Joseph is attached to this
report as Exhibit 99.1 and is incorporated herein by reference.
The
information in this Item, including
Exhibit 99.1 attached hereto, shall not be deemed “filed” for the purposes of
Section 18 of the Securities Exchange Act of 1934, or otherwise subject to
the
liabilities of that section. It may be incorporated by reference in
another filing under the Exchange Act or Securities Act of 1933 if such
subsequent filing specifically references this Form 8-K.
Item
9.01. Financial Statements and Exhibits.
(d)
Exhibits.
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Exhibit
No.
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Description
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99.1
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Press
Release Dated January 2, 2008
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SIGNATURE
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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HIBBETT
SPORTS, INC.
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By:
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/s/
Gary A. Smith
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Gary
A. Smith
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Vice
President and Chief Financial
Officer
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January
2, 2008
EXHIBIT
INDEX
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Exhibit
No.
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Description
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99.1
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Press
Release Dated January 2, 2008
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