ltip_psu.htm
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): March 18, 2008
Intermec,
Inc.
(Exact
name of registrant as specified in its charter)
|
Delaware
|
001-13279
|
95-4647021
|
|
|
|
|
|
(State
or other jurisdiction of incorporation )
|
(Commission
File Number)
|
(I.R.S.
Employer Identification No.)
|
| |
|
6001
36th
Avenue West
|
| Everett,
Washington 98203-1264 |
|
www.intermec.com
|
|
(Address
of principal executive offices and internet site) (Zip
Code)
|
|
|
|
|
|
|
| |
(425)
265-2400
|
|
| |
(Registrant's
telephone number, including area code)
|
|
|
|
|
No
Change
|
|
(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:
o
Written communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
o Soliciting material
pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act
(17 CFR 240.14d-2(b))
o Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
|
Item
5.02.
|
Departure
of Directors or Certain Officers; Election of Directors; Appointment of
Certain Officers; Compensatory Arrangements of Certain
Officers.
|
2008-2010 Performance Period
Under the Long Term Performance Share Unit Program
On March
18, 2008, the Compensation Committee of our Board of Directors established the
2008-2010 performance measures for the Long Term Performance Share Unit program
(“PSU Program”), which is a program under our 2004 Omnibus Incentive
Compensation Plan.
The
structure and terms of the PSU Program were not amended: The
Committee establishes target awards of Performance Share Units (“PSUs”) at the
beginning of each three-year performance period. Participants, who include our
Named Executive Officers (“NEOs”), are assigned individual target opportunities
for PSU Program payouts and receive payouts in the form of common stock at the
end of the performance period, in an amount dependent on the degree to which the
assigned targets were achieved. Participants can earn from 0 percent
to 200 percent of their target PSU award depending on whether the Company's
performance is below target or above target, respectively.
The
performance goals and weight factors applicable to the NEOs under the 2008-2010
PSU Program performance period differ from prior years’ and are as
follows:
• Achievement
of Revenue, 30% weighting
• Achievement
of Diluted Earnings per Share from continuing operations, 70%
weighting.
The
achievement of each goal shall be separately determined as a percentage of
target as of the end of each fiscal year in the performance period. The total
payout for the performance period will be based on the three-year average of
results under the applicable goal.
SIGNATURES
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.
Intermec,
Inc.
(Registrant)
Date: March
21,
2008
By: /s/ Janis L. Harwell
Janis L.
Harwell
Senior Vice
President, General Counsel and Corporate Secretary