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EX-31.2 - EX-31.2 - CORNELL COMPANIES INCa09-36304_2ex31d2.htm
EX-32.2 - EX-32.2 - CORNELL COMPANIES INCa09-36304_2ex32d2.htm
EX-32.1 - EX-32.1 - CORNELL COMPANIES INCa09-36304_2ex32d1.htm
EX-31.1 - EX-31.1 - CORNELL COMPANIES INCa09-36304_2ex31d1.htm

 

 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

 

FORM 10-K/A

 

Amendment No. 1

 

(Mark One)

 

x

ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

 

For fiscal year ended December 31, 2009

 

OR

 

o

TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

 

For the transition period from               to              

 

Commission File Number 1-14472

 

CORNELL COMPANIES, INC.

(Exact Name of Registrant as Specified In Its Charter)

 

Delaware

 

76-0433642

(State or Other Jurisdiction

 

(I.R.S. Employer

of Incorporation or Organization)

 

Identification No.)

 

 

 

1700 West Loop South, Suite 1500, Houston, Texas

 

77027

(Address of Principal Executive Offices)

 

(Zip Code)

 

Registrant’s telephone number, including area code:   (713) 623-0790

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of Each Class

 

Name of Each Exchange on Which Registered

Common Stock, $.001 par value per share

 

New York Stock Exchange

Preferred Stock Purchase Rights

 

New York Stock Exchange

 

Securities registered pursuant to Section 12(g) of the Act:  None

 

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes o No x

 

Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes  o  No x

 

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the Registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes  x  No  o

 

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).   Yes  o  No  o

 

Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K (§229.405) is not contained herein, and will not be contained, to the best of Registrant’s knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K. x.

 

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act. Check one.

 

Large accelerated Filer o

 

Accelerated filer x

Non-accelerated filer o

 

Smaller Reporting Company o

 

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).Yes  o   No  x

 

The aggregate market value of voting stock held by non-affiliates of the registrant was $191,785,600 on June 30, 2009. The registrant has 14,971,194 shares of common stock outstanding on February 19, 2010.

 

Documents Incorporated by Reference

 

The information required by Part III of this Report, to the extent not set forth herein, is incorporated by reference from the registrant’s definitive proxy statement relating to its Annual Meeting of Stockholders to be held in 2010, which definitive proxy statement will be filed with the Securities and Exchange Commission within 120 days after the end of the fiscal year to which this Report relates.

 

 

 



 

Cornell Companies, Inc.

 

Table of Contents

 

2009 Form 10-K/A

 

 

 

Page

Explanatory Note

3

Part IV

 

Item 15.

Exhibits and Financial Statement Schedules

3

 

2



 

Explanatory Note

 

This Amendment No. 1 amends Cornell Companies, Inc.’s (the “Company”) Annual Report on Form 10-K for the year ended December 31, 2009, which was filed with the Securities and Exchange Commission on February 26, 2010 (the “Original Filing”).  The Company is filing this Amendment No. 1 for the sole purpose of amending the list of exhibits included in Item 15 to amend the reference to the Company’s Second Amended and Restated Bylaws which was included in the Original Filing to instead refer to the Company’s Third Amended and Restated Bylaws which were included in the Company Current Report on Form 8-K filed with the Securities and Exchange Commission on February 24, 2010. Accordingly, this Amendment No. 1 sets forth Part IV, Item 15, Exhibits and Financial Statement Schedules, as amended and restated, in its entirety.  This Amendment No. 1 does not include the entire Form 10-K.

 

Except as described above, no other changes have been made to the Original Filing.  The Original Filing continues to speak as of the date of the Original Filing, and Cornell Companies, Inc. has not updated the disclosures contained therein to reflect any events which occurred subsequent to the filing of the Original Filing, or to modify the disclosure contained in the Original Filing other than to reflect the changes described above.

 

PART IV

 

ITEM 15.

EXHIBITS AND FINANCIAL STATEMENT SCHEDULES

 

(a)                                  Financial Statements, Schedules and Exhibits

 

1.

 

Financial statements

 

 

Report of Independent Registered Public Accounting Firm

 

 

Consolidated Balance Sheets - December 31, 2009 and 2008

 

 

Consolidated Statements of Income and Comprehensive Income for the years ended December 31, 2009, 2008 and 2007

 

 

Consolidated Statements of Changes in Equity for the years ended December 31, 2009, 2008 and 2007

 

 

Consolidated Statements of Cash Flows for the years ended December 31, 2009, 2008 and 2007

 

 

Notes to consolidated financial statements

 

 

 

2.

 

Financial statement schedules

 

 

All schedules are omitted because they are not applicable or because the required information is included in the financial statements or notes thereto.

 

 

 

3.

 

Exhibits

 

Exhibit
No.

 

Description

3.1

 

Restated Certificate of Incorporation of Cornell Companies, Inc. (incorporated by reference to Exhibit 3.1 to the Company’s Annual Report on Form 10-K for the year ended December 31, 1996 filed on March 31, 1997).

 

 

 

3.2

 

Third Amended and Restated Bylaws of Cornell Companies, Inc. (incorporated by reference to Exhibit 3.2 to the Company’s Current Report on Form 8-K filed on February 24, 2010).

 

 

 

3.3

 

Certificate of Amendment of Restated Certificate of Incorporation of Cornell Companies, Inc. (incorporated by reference to Exhibit 4.2 to the Company’s Registration Statement on Form S-8 (Reg. No. 333-42444) filed on July 28, 2000).

 

 

 

4.1

 

Form of Certificate representing Common Stock (incorporated by reference to Exhibit 4.1 to the Company’s Registration Statement on Amendment 1 to Form S-1 (Reg. No. 333-08243) filed on August 26, 1996).

 

 

 

4.2

 

Indenture dated as of June 24, 2004 between Cornell Companies, Inc., the guarantors named therein and JPMorgan Chase Bank, as trustee (incorporated by reference to Exhibit 4.1 to the Company’s Current Report on Form 8-K filed on June 25, 2004).

 

 

 

4.3

 

Form of 10 3/4% Senior Note due 2012 (included in Exhibit 4.2).

 

 

 

4.4

 

Registration Rights Agreement dated March 31, 1994, as amended, among Cornell Corrections, Inc. and the stockholders listed on the signature pages thereto (incorporated by reference to Exhibit 4.2 to the Company’s

 

3



 

 

 

Registration Statement on Form S-1 (Reg. No. 333- 08243), filed on July 17, 1996, as amended).

 

 

 

4.5

 

Registration Rights Agreement, dated October 14, 1999 among Cornell Companies, Inc. and the investors party thereto (incorporated by reference to Exhibit 4.7 to the Company’s Registration Statement on Form S-3 (Reg. No. 333-91211) filed on November 18, 1999).

 

 

 

10.1*

 

Cornell Corrections, Inc. Amended and Restated 1996 Stock Option Plan (incorporated by reference to Exhibit B to the Company’s Schedule 14A filed on March 9, 1998).

 

 

 

10.2*

 

Form of Indemnification Agreement between Cornell Companies, Inc. and each of its directors and executive officers (incorporated by reference to Exhibit 10.3 to the Company’s Registration Statement on Amendment 1 to Form S-1 (Reg. No. 333-08243) filed on August 26, 1996).

 

 

 

10.3*

 

Cornell Corrections, Inc. Employee Stock Purchase Plan (incorporated by reference to Exhibit 4.7 to the Company’s Registration Statement on Form S-8 (Reg. No. 333-80187) filed on June 8, 1999).

 

 

 

10.4*

 

Cornell Corrections, Inc. Deferred Compensation Plan, amended and restated effective January 1, 2005.

 

 

 

10.5*

 

Cornell Companies, Inc. Amended and Restated 2000 Director Stock Plan (incorporated by reference to Appendix B to the Company’s Proxy Statement on Schedule 14A filed April 28, 2009).

 

 

 

10.6*

 

Cornell Companies, Inc. Deferred Bonus Plan (incorporated by reference to Exhibit 10.44a to the Company’s Annual Report on Form 10-K for the year ended December 31, 2002 filed on March 31, 2003).

 

 

 

10.7

 

Premises Transfer Agreement, dated August 14, 2001, among Cornell Companies, Inc., Cornell Corrections of Georgia, L.P., Cornell Corrections of Oklahoma, Inc., Cornell Corrections of Texas, Inc., WBP Leasing, Inc., and Municipal Corrections Finance, L.P. (incorporated by reference to Exhibit 10.1 to the Company’s Current Report on Form 8-K filed on August 28, 2001).

 

 

 

10.8

 

Master Lease Agreement (with addenda), dated August 14, 2001, between Municipal Corrections Finance, L.P. and Cornell Companies, Inc. (incorporated by reference to Exhibit 10.2 to the Company’s Current Report on Form 8-K filed on August 28, 2001).

 

 

 

10.9

 

Master Lease Agreement dated December 3, 1998 between Atlantic Financial Group, Ltd. and WBP Leasing, Inc. and certain other subsidiaries of Cornell Corrections, Inc. (incorporated by reference to Exhibit 10.3 to the Company’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2001 filed on October 30, 2001).

 

 

 

10.10

 

Amended and Restated Credit Agreement dated October 10, 2007 among Cornell Companies, Inc., its subsidiaries, JPMorgan Chase Bank N.A., as Administrative Agent, Bank of America, N.A., as Syndication Agent and the Lenders party thereto (incorporated by reference to Exhibit 10.1 to the Company’s Current Report on Form 8-K filed on October 12, 2007).

 

 

 

10.11*

 

Amended and Restated Employment Agreement, dated August 2, 2007, between Cornell Companies, Inc. and James E. Hyman (incorporated by reference to Exhibit 10.1 to the Company’s Current Report on Form 8-K filed on August 6, 2007).

 

 

 

10.12*

 

Restricted Stock Agreement, dated March 14, 2005, between Cornell Companies, Inc. and James E. Hyman (incorporated by reference to Exhibit 10.2 to the Company’s Current Report on Form 8-K filed on March 15, 2005).

 

 

 

10.13*

 

Employment/Separation Agreement, dated March 9, 2005, between Cornell Companies, Inc. and John R. Nieser (incorporated by reference to Exhibit 10.3 to the Company’s Current Report on Form 8-K filed on March 15, 2005).

 

 

 

10.14*

 

Amendment to Employment/Separation Agreement dated March 14, 2007 by and between Cornell Companies, Inc. and John R. Nieser (incorporated by reference to Exhibit 10.2 to the Company’s Current Report on Form 8-K filed on March 15, 2007).

 

 

 

10.15*

 

Form of Severance Agreement (incorporated by reference to Exhibit 10.40 to the Company’s Annual Report on Form 10-K for the year ended December 31, 1999 filed on March 30, 2000).

 

4



 

 

 

Amendment to Severance Agreement dated March 14, 2007 by and between Cornell Companies, Inc. and Patrick N. Perrin (incorporated by reference to Exhibit 10.4 to the Company’s Current Report on Form 8-K filed on March 15, 2007).

 

 

 

10.16*

 

Employment Agreement dated January 5, 2009 between Cornell Companies, Inc. and Cathryn L. Porter.

 

 

 

10.17*

 

Cornell Companies, Inc. Amended and Restated 2006 Incentive Plan (incorporated by reference to Appendix A to the Company’s Proxy Statement on Schedule 14A filed April 28, 2009).

 

 

 

10.18*

 

Form of Cornell Companies, Inc. Restricted Stock Award — Performance Based (incorporated by reference to Exhibit 10.1 to the Company’s Current Report on Form 8-K filed on March 12, 2008).

 

 

 

10.19*

 

Form of Cornell Companies, Inc. Restricted Stock Award — Time Based (incorporated by reference to Exhibit 10.2 to the Company’s Current Report on Form 8-K filed on March 12, 2008).

 

 

 

10.20*

 

Form of Cornell Companies, Inc. Restricted Stock Award Agreement (Profitability & Time-Based) (incorporated by reference to Exhibit 10.1 to the Company’s Current Report on Form 8-K filed on April 7, 2009).

 

 

 

10.21*

 

Form of Cornell Companies, Inc. Restricted Stock Award Agreement (Performance Based) (incorporated by reference to Exhibit 10.1 to the Company’s Current Report on Form 8-K filed on April 7, 2009).

 

 

 

10.22*

 

Cornell Companies, Inc. First Amendment to the Amended and Restated 1996 Stock Option Plan (incorporated by reference to Exhibit 10.5 to the Company’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2009 filed on August 7, 2009)

 

 

 

10.23

 

Facilities Lease Agreement between Inland PPD Hudson Associates, L.L.C. and Cornell Corrections of California, Inc. dated as of September 24, 2008.

 

 

 

10.24*

 

Form of Director Stock Option Award Agreement.

 

 

 

14.1

 

Code of Ethics for Senior Financial Officers (incorporated by reference to Exhibit 14.1 to the Company’s Current Report on Form 8-K/A filed on March 13, 2009).

 

 

 

21.1

 

List of Subsidiaries.

 

 

 

23.1

 

Consent of PricewaterhouseCoopers LLP.

 

 

 

24.1

 

Power of Attorney (see signature page of the Annual Report on Form 10-K).

 

 

 

31.1

 

Section 302 Certification of Chief Executive Officer (filed herewith).

 

 

 

31.2

 

Section 302 Certification of Chief Financial Officer (filed herewith).

 

 

 

32.1

 

Section 906 Certification of Chief Executive Officer (filed herewith).

 

 

 

32.2

 

Section 906 Certification of Chief Financial Officer (filed herewith).

 


*      Management compensatory plan or contract.

      Previously filed with the Company’s Annual Report on Form 10-K for the year ended December 31, 2009, which was filed with the Securities and Exchange Commission on February 26, 2010.

 

5



 

SIGNATURES

 

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, this Amendment No. 1 to the Annual Report on Form 10-K/A has been signed below by the following persons on behalf of the registrant and in the capacities indicated on March 5, 2010.

 

 

 

CORNELL COMPANIES, INC.

 

 

 

 

 

By:

/s/ James E. Hyman

 

 

 

James E. Hyman

 

 

 

Chief Executive Officer, President and

 

 

 

Chairman of the Board

 

 

 

(Principal Executive Officer)

 

 

 

 

 

 

 

 

 

 

By:

/s/ John R. Nieser

 

 

 

John R. Nieser

 

 

 

Chief Financial Officer, Senior Vice

 

 

 

President and Treasurer

 

 

 

(Principal Financial Officer and Principal)

 

 

 

Accounting Officer)

 

6