Attached files
| file | filename |
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| EX-99.1 - ALCO STORES INC | wilsonpr.htm |
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
DC 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) July 23, 2010.
Duckwall-ALCO
Stores, Inc.
(Exact
name of registrant as specified in its charter)
|
Kansas
|
0-20269
|
48-0201080
|
|
(State
or other jurisdiction
of
incorporation)
|
(Commission
File
Number)
|
(IRS
Employer
Identification
No.)
|
401
Cottage
Abilene,
Kansas 67410-2832
(Address
of principal executive offices) (Zip Code)
(785)
263-3350
(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 (see General
Instruction A.2. below):
[ ] 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
5.02. Departure of Directors or Certain Officers; Election of
Directors; Appointment of Certain Officers; Compensatory Arrangements of
Certain Officers.
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On July 23, 2010, the Board of
Directors of Duckwall-ALCO Stores, Inc. (the “Company”) elected Richard E.
Wilson to the Board of Directors, effective that day. The Board of Directors
unanimously approved of the election of Mr. Wilson to the Board of Directors.
The committees of the Board of Directors to which Mr. Wilson will be named have
not been determined at this time. Mr. Wilson is the current
President-Chief Executive Officer of the Company and has an employment agreement
with the Company under which he is paid a salary of $450,000 (the “Employment
Agreement”). Also pursuant to his employment, Mr. Wilson and the Company entered
into a Stock Option Agreement effective as of February 22, 2010 in which Mr.
Wilson was awarded 100,000 shares of the Company’s common stock at an exercise
price of $14.34 per share (the “Stock Option Agreement”). The Employment
Agreement and Stock Option Agreement are discussed in detail and attached as an
exhibit to an 8-K filed by the Company on February 25, 2010, which 8-K and its
exhibits are incorporated herein by reference.
There are no arrangements or
understandings between Mr. Wilson and any other person pursuant to which he was
elected as a director. Except for Mr. Wilson’s Employment Agreement
and Stock Option Agreement stated above, since February 2, 2009, Mr. Wilson nor
any immediate family member of Mr. Wilson has been a party to any transaction or
currently proposed transaction in which the Company was or is a participant and
the amount exceeds $120,000, and in which Mr. Wilson or any immediate family
member had or will have a direct or indirect material interest.
Item
7.01. Regulation FD Disclosure.
The information set forth in Item 5.02
is incorporated herein by reference, in its entirety, into this Item 7.01. On
July 27, 2010, the Company issued a press release attached as Exhibit 99.1,
incorporated into this Item 7.01 by reference, announcing the election of Mr.
Wilson to the Company’s Board of Directors.
Item
9.01. Financial Statements and Exhibits
(d) Exhibits.
Exhibit
Number Description
|
|
99.1
|
Press
Release dated July 27, 2010
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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.
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Date:
July 27, 2010
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DUCKWALL-ALCO
STORES, INC.
By: /s/ Richard
E. Wilson
Richard E. Wilson
President and Chief
Executive
Officer
|
INDEX
TO EXHIBITS
Exhibit
Number Description
|
|
99.1
|
Press
Release dated July 27, 2010
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