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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 14A
Proxy Statement Pursuant to Section 14(a) of the Securities
Exchange Act of 1934 (Amendment No. )
Filed by the Registrant x | |
Filed by a Party other than the Registrant o | |
Check the appropriate box: |
o Preliminary Proxy Statement | |
o Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)) | |
x Definitive Proxy Statement | |
o Definitive Additional Materials | |
o Soliciting Material Pursuant to §240.14a-12 |
Payment of Filing Fee (Check the appropriate box):
x No fee required. | |
o Fee computed on table below per Exchange Act Rules 14a-6(i)(1) and 0-11. |
1) Title of each class of securities to which transaction applies: |
2) Aggregate number of securities to which transaction applies: |
3) Per unit price or other underlying value of transaction computed pursuant to Exchange Act Rule 0-11 (set forth the amount on which the filing fee is calculated and state how it was determined): |
4) Proposed maximum aggregate value of transaction: |
5) Total fee paid: |
o Fee paid previously with preliminary materials. |
o Check box if any part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and identify the filing for which the offsetting fee was paid previously. Identify the previous filing by registration statement number, or the Form or Schedule and the date of its filing. |
1) Amount Previously Paid: |
2) Form, Schedule or Registration Statement No.: |
3) Filing Party: |
4) Date Filed: |
SEC 1913 (11-01) | Persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. |
Sincerely, Timothy W. Byrne President and Chief Executive Officer Enclosures |
• | Take the North exit from the airport | ||
• | East on I-635 (Lyndon B. Johnson Freeway) | ||
• | Exit at Coit Road, turning North (left) onto Coit | ||
• | Turn left at first intersection onto Alpha Road | ||
• | Hotel entrance is on the left before junction with Blossomheath Road |
• | North on North Central Expressway (U.S. 75) | ||
• | Exit at Coit Road (exit passes over U.S. 75 and joins Coit) | ||
• | Continue North on Coit until you cross over I-635 (Lyndon B. Johnson Freeway) | ||
• | Turn left at first intersection onto Alpha Road | ||
• | Hotel entrance is on the left before junction with Blossomheath Road |
1. To elect five directors to serve until the next annual meeting of shareholders and until their respective successors have been duly elected and qualified; and |
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Name and Address | Number of Shares | Percent | ||||||
of Beneficial Owner | Beneficially Owned(2) | of Class(2) | ||||||
Inberdon Enterprises Ltd. | 3,542,033 | 57.66 | % | |||||
1020-789 West Pender Street | ||||||||
Vancouver, British Columbia | ||||||||
Canada V6C 1H2(1) | ||||||||
Robert S. Beall | 672,497 | 10.95 | % | |||||
5300 Miramar Lane | ||||||||
Colleyville, Texas 76034 |
Name and Address | Number of Shares | Percent | ||||||
of Beneficial Owner | Beneficially Owned(2) | of Class(2) | ||||||
Inberdon Enterprises Ltd. | 3,594,033 | 57.69 | % | |||||
1020-789 West Pender Street Vancouver, British Columbia Canada V6C 1H2(1) | ||||||||
Robert S. Beall | 674,997 | 10.84 | % | |||||
5300 Miramar Lane Colleyville, Texas 76034 |
(1) | Inberdon Enterprises Ltd. | |
(2) | In the case of Inberdon, based on |
Number of Shares | Percent | Number of Shares | Percent | |||||||||||||
Name | Beneficially Owned(1) | of Class | Beneficially Owned(1) | of Class | ||||||||||||
Timothy W. Byrne | 160,502 | (2)(4) | 2.58 | % | 121,845 | (2)(3)(4) | 2.58 | % | ||||||||
Richard W. Cardin | 8,000 | (4) | (5) | 8,533 | (3) | (6 | ) | |||||||||
Antoine M. Doumet | 6,000 | (3)(4) | (5) | 8,000 | (3)(5) | (6 | ) | |||||||||
Wallace G. Irmscher | 12,359 | (4) | (5) | 14,408 | (3) | (6 | ) | |||||||||
Edward A. Odishaw | 7,500 | (4) | (5) | 4,000 | (3) | (6 | ) | |||||||||
Johnney G. Bowers | 22,993 | (2) (4) | (5) | 19,337 | (2)(3) | (6 | ) | |||||||||
Billy R. Hughes | 69,563 | (2) (4) | 1.13 | % | 71,883 | (2)(3)(4) | 1.13 | % | ||||||||
Richard D. Murray | 39,500 | (2) (4) | (5) | |||||||||||||
M. Michael Owens | 8,300 | (4) | (5) | 16,526 | (3)(4) | (6 | ) | |||||||||
All Directors and Executive Officers as a Group (10 persons) | 342,821 | (2) (4) | 5.42 | % | ||||||||||||
Russell W. Riggs | 4,000 | (3)(4) | (6 | ) | ||||||||||||
All Directors and Executive Officers as a Group (9 persons) | 268,532 | (2)(3)(4) | 4.22 | % |
(1) | All shares are directly held with sole voting and dispositive power unless otherwise indicated. | |
(2) | Includes 6,845, 493, | |
(3) | ||
Includes the following shares subject to stock options exercisable within the next 60 days granted under | ||
Includes the following shares of restricted stock granted under our 2001 plan: Mr. Byrne, 7,500; Mr. Hughes, 500; Mr. Owens, 900; and Mr. Riggs, 1,500. | ||
(5) | The named individual is the brother of Mr. George M. Doumet, who indirectly owns all of the outstanding shares of Inberdon. | |
(6) | Less than 1%. |
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communication. |
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responsible for the appointment, compensation, retention and oversight of the work of |
• | The Compensation Committee is composed of three independent directors, Messrs. Odishaw (Chairman), Irmscher and Doumet. The Compensation Committee is responsible for the evaluation, approval, and administration of salary, incentive compensation, bonuses, benefit plans, and other forms of compensation for |
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• | Base salaries for executive officers should be competitive. | |
• | A sufficient portion of annual compensation should be at risk in order to align the interests of executives with those of our shareholders. | |
• | The variable part of annual compensation should reflect both individual and corporate performance. | |
• | As a person’s level of responsibility increases, a greater portion of total compensation should be at risk and include more stock-based compensation to provide executives long-term incentives and help to align further the interests of executives and shareholders in the enhancement of shareholder value. |
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Shares of | ||||
Name | Restricted Stock | |||
Billy R. Hughes | 500 | |||
M. Michael Owens | 900 | |||
Johnney G. Bowers | 0 | |||
Russell W. Riggs | 1,500 |
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Long-Term | All Other | |||||||||||||||||||
Annual Compensation | Compensation | Compensation | ||||||||||||||||||
Securities | ||||||||||||||||||||
Name and | Underlying | All Other | ||||||||||||||||||
Principal Position | Year | Salary | Bonus(1) | Options (#) | Compensation(2) | |||||||||||||||
Timothy W. Byrne | 2005 | $ | 265,000 | $ | 300,000 | 30,000 | $ | 34,200 | ||||||||||||
President and Chief Executive Officer | 2004 | $ | 250,000 | $ | 250,000 | 30,000 | $ | 34,100 | ||||||||||||
2003 | $ | 250,000 | $ | 100,000 | 30,000 | $ | 4,000 | |||||||||||||
Billy R. Hughes | 2005 | $ | 165,667 | $ | 30,000 | 2,000 | $ | 3,399 | ||||||||||||
Senior Vice President — Sales and Marketing | 2004 | $ | 161,667 | $ | 30,000 | 5,000 | $ | 3,318 | ||||||||||||
2003 | $ | 157,833 | $ | 7,500 | 10,000 | $ | 3,234 | |||||||||||||
M. Michael Owens | 2005 | $ | 124,208 | $ | 18,000 | 4,500 | $ | 2,556 | ||||||||||||
Vice President and Chief Financial Officer | 2004 | $ | 120,708 | $ | 15,000 | 4,500 | $ | 2,508 | ||||||||||||
2003 | $ | 117,291 | $ | 4,000 | 12,000 | $ | 617 | |||||||||||||
Johnney G. Bowers | 2005 | $ | 150,025 | $ | 8,000 | — | $ | 3,086 | ||||||||||||
Vice President — Manufacturing | 2004 | $ | 146,750 | $ | 8,000 | 1,500 | $ | 3,009 | ||||||||||||
2003 | $ | 143,830 | $ | 2,000 | — | $ | 2,976 | |||||||||||||
Richard D. Murray | 2005 | $ | 117,375 | $ | 30,000 | 3,000 | $ | 3,305 | ||||||||||||
Vice President — Texas Lime | 2004 | $ | 114,792 | $ | 30,000 | 6,000 | $ | 2,423 | ||||||||||||
2003 | $ | 112,291 | $ | 5,000 | 6,000 | $ | 2,360 |
Change in | ||||||||||||||||||||||||||||||||||||
Pension | ||||||||||||||||||||||||||||||||||||
Value and | ||||||||||||||||||||||||||||||||||||
Non- | ||||||||||||||||||||||||||||||||||||
Non-Equity | Qualified | |||||||||||||||||||||||||||||||||||
Incentive | Deferred | All | ||||||||||||||||||||||||||||||||||
Stock | Option | Plan | Compensation | Other | ||||||||||||||||||||||||||||||||
Name and Principal | Salary | Bonus | Awards | Awards | Compensation | Earnings | Compensation | Total | ||||||||||||||||||||||||||||
Position | Year | ($) | ($)(1) | ($)(2) | ($)(2) | ($)(3) | ($) | ($)(4) | ($) | |||||||||||||||||||||||||||
Timothy W. Byrne | 2006 | 275,000 | 150,000 | 0 | 118,810 | 275,000 | — | 38,451 | 857,261 | |||||||||||||||||||||||||||
President and Chief Executive Officer | ||||||||||||||||||||||||||||||||||||
Billy R. Hughes | 2006 | 167,114 | 40,000 | — | 16,366 | — | — | 3,370 | 226,850 | |||||||||||||||||||||||||||
Senior Vice President — Sales and Marketing | ||||||||||||||||||||||||||||||||||||
M. Michael Owens | 2006 | 129,083 | 30,000 | — | 18,365 | — | — | 4,972 | 182,420 | |||||||||||||||||||||||||||
Vice President and Chief Financial Officer | ||||||||||||||||||||||||||||||||||||
Johnney G. Bowers | 2006 | 153,633 | — | — | 3,882 | — | — | 4,159 | 161,674 | |||||||||||||||||||||||||||
Vice President — Manufacturing | ||||||||||||||||||||||||||||||||||||
Russell W. Riggs(5) | 2006 | 139,013 | 40,000 | — | 28,210 | — | — | 7,180 | 216,050 | |||||||||||||||||||||||||||
Vice President — Production |
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(1) | ||
(2) | Reflects the dollar amount of expense recognized for financial reporting purposes in 2006 with respect to restricted stock and stock option awards in accordance with FSAS 123(R) and thus, in the case of option awards, includes amounts from awards granted in and prior to 2006. The method and assumptions used to determine the amount of expense recognized for options is set forth in Note 7 to our consolidated financial statements included in our annual report onForm 10-K. | |
Reflects Mr. Byrne’s EBITDA bonus earned in 2006 and paid in 2007. | ||
(4) | Includes company contributions to the | |
(5) | Mr. Riggs began work with us in January 2006. |
All Other | All Other | |||||||||||||||||||||||||||||||||||||||||||
Stock | Option | |||||||||||||||||||||||||||||||||||||||||||
Awards: | Awards: | Exercise | Grant | |||||||||||||||||||||||||||||||||||||||||
Estimated Possible Payouts | Estimated Future Payouts | Number | Number of | or Base | Date Fair | |||||||||||||||||||||||||||||||||||||||
Under Non-Equity Incentive | Under Equity Incentive | of Shares | Securities | Price of | Value of | |||||||||||||||||||||||||||||||||||||||
Plan Awards | Plan Awards | of Stock | Underlying | Option | Stock and | |||||||||||||||||||||||||||||||||||||||
Grant | Threshold | Target | Maximum | Threshold | Target | Maximum | or Units | Options | Awards | Option | ||||||||||||||||||||||||||||||||||
Name | Date | ($) | ($) | ($) | (#) | (#) | (#) | (#) | (#) | ($/Sh) | Awards($) | |||||||||||||||||||||||||||||||||
Timothy W. | 100,000 | — | 275,000 | |||||||||||||||||||||||||||||||||||||||||
Byrne | 12/29/06 | — | — | — | — | — | — | 7,500 | — | — | 226,125 | |||||||||||||||||||||||||||||||||
12/29/06 | — | — | — | — | — | — | — | 7,500 | 30.15 | 79,725 | ||||||||||||||||||||||||||||||||||
Billy R. Hughes | 2/2/06 | — | — | — | — | — | — | — | 2,000 | 27.98 | 24,620 | |||||||||||||||||||||||||||||||||
M. Michael Owens | 2/2/06 | — | — | — | — | — | — | — | 3,000 | 27.98 | 36,930 | |||||||||||||||||||||||||||||||||
Johnney G. Bowers | 2/2/06 | — | — | — | — | — | — | — | 1,000 | 27.98 | 12,310 | |||||||||||||||||||||||||||||||||
Russell W. Riggs | 2/2/06 | — | — | — | — | — | — | — | 7,500 | 27.98 | 92,325 |
Option Awards | Stock Awards | |||||||||||||||
Number of Shares | Value Realized on | Number of Shares | Value Realized on | |||||||||||||
Name | Acquired on Exercise (#) | Exercise ($) | Acquired on Vesting (#) | Vesting ($) | ||||||||||||
Timothy W. Byrne | 40,000 | 1,157,900 | — | — | ||||||||||||
Billy R. Hughes | — | — | — | — | ||||||||||||
M. Michael Owens | 6,000 | 182,280 | — | — | ||||||||||||
Johnney G. Bowers | 5,000 | 141,850 | — | — | ||||||||||||
Russell W. Riggs | — | — | — | — |
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Potential Realizable Value at | ||||||||||||||||||||||||
Assumed Annual Rates of Stock | ||||||||||||||||||||||||
Individual Grants | Price Appreciation for Option Term | |||||||||||||||||||||||
Number of | % of Total | |||||||||||||||||||||||
Securities | Options | |||||||||||||||||||||||
Underlying | Granted to | Exercise | ||||||||||||||||||||||
Options Granted | Employees in | Price | Expiration | 5% | 10% | |||||||||||||||||||
Name | (#) | Fiscal Year | ($/Sh) | Date | ($) | ($) | ||||||||||||||||||
Timothy W. Byrne | 30,000 | (1) | 38.7 | 26.47 | 12/30/15 | 499,500 | 1,265,700 | |||||||||||||||||
Billy R. Hughes | 2,000 | (2) | 2.6 | 13.16 | 2/03/15 | 16,560 | 41,940 | |||||||||||||||||
M. Michael Owens | 4,500 | (3) | 5.8 | 13.16 | 2/03/15 | 37,260 | 94,365 | |||||||||||||||||
Richard Murray | 3,000 | (3) | 3.9 | 13.16 | 2/03/15 | 24,840 | 62,910 |
Option Awards | Stock Awards | |||||||||||||||||||||||||||||||||||
Equity | ||||||||||||||||||||||||||||||||||||
Equity | Incentive | |||||||||||||||||||||||||||||||||||
Incentive | Plan | |||||||||||||||||||||||||||||||||||
Plan | Awards: | |||||||||||||||||||||||||||||||||||
Equity | Awards: | Market or | ||||||||||||||||||||||||||||||||||
Incentive | Number | Payout | ||||||||||||||||||||||||||||||||||
Plan | Number | of | Value of | |||||||||||||||||||||||||||||||||
Awards: | of | Market | Unearned | Unearned | ||||||||||||||||||||||||||||||||
Number | Shares | Value of | Shares, | Shares, | ||||||||||||||||||||||||||||||||
Number of | Number of | of | or Units | Shares or | Units or | Units or | ||||||||||||||||||||||||||||||
Securities | Securities | Securities | of Stock | Units of | Other | Other | ||||||||||||||||||||||||||||||
Underlying | Underlying | Underlying | That | Stock | Rights | Rights | ||||||||||||||||||||||||||||||
Unexercised | Unexercised | Unexercised | Option | Have | That Have | That | That Have | |||||||||||||||||||||||||||||
Options | Options | Unearned | Exercise | Option | Not | Not | Have Not | Not | ||||||||||||||||||||||||||||
(#) | (#) | Options | Price | Expiration | Vested | Vested | Vested | Vested | ||||||||||||||||||||||||||||
Name | Exercisable | Unexercisable | (#) | ($) | Date | (#) | ($) | (#) | ($) | |||||||||||||||||||||||||||
Timothy W. Byrne | 20,000 | — | — | 11.35 | 12/31/14 | 7,500 | (6) | 226,125 | — | — | ||||||||||||||||||||||||||
30,000 | — | 26.47 | 12/30/15 | |||||||||||||||||||||||||||||||||
7,500 | — | 30.15 | 12/29/16 | |||||||||||||||||||||||||||||||||
Billy R. Hughes | 12,000 | — | — | 7.00 | 2/20/08 | — | — | — | — | |||||||||||||||||||||||||||
10,000 | — | 8.00 | 11/17/09 | |||||||||||||||||||||||||||||||||
5,000 | — | 8.56 | 1/30/14 | |||||||||||||||||||||||||||||||||
1,000 | 1,000 | (1) | 13.16 | 2/3/15 | ||||||||||||||||||||||||||||||||
— | 2,000 | (2) | 27.98 | 2/2/16 | ||||||||||||||||||||||||||||||||
M. Michael Owens | 3,000 | 1,500 | (3) | — | 8.56 | 1/30/14 | — | — | — | — | ||||||||||||||||||||||||||
1,500 | 3,000 | (4) | 13.16 | 2/3/15 | ||||||||||||||||||||||||||||||||
— | 3,000 | (5) | 27.98 | 2/2/16 | ||||||||||||||||||||||||||||||||
Johnney G. Bowers | 3,000 | — | — | 7.00 | 2/20/08 | — | — | — | — | |||||||||||||||||||||||||||
10,000 | — | 8.00 | 11/17/09 | |||||||||||||||||||||||||||||||||
1,000 | 500 | (3) | 8.56 | 1/30/14 | ||||||||||||||||||||||||||||||||
— | 1,000 | (5) | 27.98 | 2/2/16 | ||||||||||||||||||||||||||||||||
Russell W. Riggs | — | 7,500 | (5) | — | 27.98 | 2/2/16 | — | — | — | — |
(1) | ||
These options vested 50% on February 2, 2007 and will vest 50% on February 2, 2008. | ||
These options vested on January 30, 2007. | ||
(4) | These options vested 50% on February 3, 2007 and will vest 50% on February 3, 2008. | |
(5) | These options vested 331/3% on February 2, 2007 and will vest 331/3% on each of February | |
(6) | These shares of restricted stock will vest 50% on June 29, 2007 and |
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Shares | Value | Number of Securities | Value of Unexercised | ||||||||||||||||||||||||
Acquired on | Realized | Underlying Unexercised Options | In-the-Money Options | ||||||||||||||||||||||||
Name | Exercise (#) | ($)(1) | at Year-End (#) | at Year-End ($)(2) | |||||||||||||||||||||||
Exercisable | Unexercisable | Exercisable | Unexercisable | ||||||||||||||||||||||||
Timothy W. Byrne | 50,000 | 703,000 | 86,223 | 3,777 | 1,149,900 | 0 | |||||||||||||||||||||
Billy R. Hughes | 25,000 | 348,950 | 24,500 | 4,500 | 463,115 | 71,395 | |||||||||||||||||||||
M. Michael Owens | 6,000 | 67,200 | 3,500 | 11,500 | 117,345 | 158,865 | |||||||||||||||||||||
Johnney G. Bowers | 4,000 | 39,200 | 18,500 | 1,000 | 349,415 | 17,910 | |||||||||||||||||||||
Richard D. Murray | 20,000 | 287,783 | 24,500 | 9,000 | 369,410 | 156,810 |
Number of Shares | ||||||||||||
Number of Shares to be Issued | Weighted Average Exercise | Remaining | ||||||||||
Upon Exercise of Outstanding | Price of Outstanding | Available for | ||||||||||
Plan Category | Options, Warrants and Rights | Options, Warrants and Rights | Future Issuance | |||||||||
Equity compensation plans approved by security holders | 278,200 | $ | 11.97 | 140,500 | ||||||||
Equity compensation plans not approved by security holders | — | — | — | |||||||||
Total | 278,200 | $ | 11.97 | 140,500 |
Number of Shares | ||||||||||||
Number of Shares to be Issued | Weighted Average Exercise | Remaining | ||||||||||
Upon Exercise of Outstanding | Price of Outstanding Options, | Available for | ||||||||||
Plan Category | Options, Warrants and Rights | Warrants and Rights | Future Issuance | |||||||||
Equity compensation plans approved by security holders | 234,117 | $ | 14.62 | 97,750 | ||||||||
Equity compensation plans not approved by security holders | — | — | — | |||||||||
Total | 234,117 | $ | 14.62 | 97,750 |
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• | salary through the date of termination; | |
• | stock-based compensation in which he has vested; and | |
• | unused vacation pay. |
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Involuntary | ||||||||||||||||
Voluntary | Termination | |||||||||||||||
Termination | without | Termination | ||||||||||||||
without Change | Change in | Death or | with Change in | |||||||||||||
in Control | Control | Disability | Control | |||||||||||||
Employee | ($) | ($) | ($) | ($) | ||||||||||||
Timothy W. Byrne | ||||||||||||||||
Severance(1) | — | (2) | 700,000 | — | 1,400,000 | |||||||||||
Accelerated Vesting of Stock-Based Awards(3) | — | — | 226,125 | 226,125 | ||||||||||||
Billy R. Hughes | ||||||||||||||||
Severance(1) | — | 171,000 | — | 171,000 | ||||||||||||
Accelerated Vesting of Stock-Based Awards(3) | — | — | — | — | ||||||||||||
M. Michael Owens | ||||||||||||||||
Severance(1) | — | — | — | — | ||||||||||||
Accelerated Vesting of Stock-Based Awards(3) | — | — | — | — | ||||||||||||
Johnney G. Bowers | ||||||||||||||||
Severance(1) | — | 77,150 | — | 77,150 | ||||||||||||
Accelerated Vesting of Stock-Based Awards(3) | — | — | — | — | ||||||||||||
Russell W. Riggs | ||||||||||||||||
Severance(1) | — | — | — | — | ||||||||||||
Accelerated Vesting of Stock-Based Awards(3) | — | — | — | — |
(1) | The estimated severance payments are based on base salaries at December 31, 2006 and, in the case of Mr. Byrne, his total cash bonus received for 2006. Does not include, in the case of Mr. Byrne, any proportional EBITDA bonus to which he may be entitled for the year of termination if termination occurs in the second half of the year. | |
(2) | Does not include severance payment of two months’ base salary which Mr. Byrne would be entitled to if he gave us three months’ notice. | |
(3) | The estimated value of accelerated vesting of stock-based awards is based on the nonvested options and shares of restricted stock held by each executive officer on December 31, 2006 and the closing per share market price of our common stock on that date. |
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Annual Retainer | $ | 15,000 | $ | 15,000 | ||||
Daily Meeting Fee | 1,000 | $ | 1,000 | |||||
Telephonic Meeting Fee | 500 | $ | 500 | |||||
Additional Annual Retainers: | ||||||||
Audit Committee Chairman | 12,000 | $ | 12,000 | |||||
Compensation Committee Chairman | 5,000 | $ | 5,000 |
Change in | ||||||||||||||||||||||||||||
Pension Value | ||||||||||||||||||||||||||||
and | ||||||||||||||||||||||||||||
Fees | Nonqualified | |||||||||||||||||||||||||||
Earned | Non-Equity | Deferred | ||||||||||||||||||||||||||
or Paid | Stock | Option | Incentive Plan | Compensation | All Other | |||||||||||||||||||||||
in Cash | Awards | Awards(1) | Compensation | Earnings | Compensation | Total | ||||||||||||||||||||||
Name | ($) | ($) | ($) | ($) | ($) | ($) | ($) | |||||||||||||||||||||
Richard W. Cardin | 42,000 | — | 30,980 | — | — | — | 72,980 | |||||||||||||||||||||
Antoine M. Doumet | 27,500 | — | 30,980 | — | — | — | 58,480 | |||||||||||||||||||||
Wallace G. Irmscher | 36,550 | — | 30,980 | — | — | — | 67,530 | |||||||||||||||||||||
Edward A. Odishaw | 35,000 | — | 30,980 | — | — | — | 65,980 |
(1) | Reflects the dollar amount recognized for financial reporting purposes for 2006 in accordance with FSAS 123(R), which equates to the fair value of the immediately vested option awards on the date of grant. The method and assumptions used to determine the amount of expense recognized for options is set forth in Note 7 to our consolidated financial statements. As of December 31, 2006, each director had the following number of options outstanding: Mr. Cardin, 2,000; Mr. Doumet, 8,000; Mr. Irmscher, 2,000; and Mr. Odishaw, 4,000. |
2006 | 2005 | |||||||
Audit | $ | 204,847 | $ | 209,000 | ||||
Audit-Related | 20,489 | 16,500 | ||||||
Tax | — | — | ||||||
Total | $ | 225,336 | $ | 225,500 |
11
14
2000 | 2001 | 2002 | 2003 | 2004 | 2005 | |||||||||||||||||||
U.S. LIME & MINERALS, INC. | $ | 100.00 | 115.24 | 77.13 | 142.69 | 239.92 | 559.54 | |||||||||||||||||
PEER GROUP INDEX | $ | 100.00 | 135.11 | 112.36 | 155.78 | 208.57 | 258.92 | |||||||||||||||||
NASDAQ MARKET INDEX | $ | 100.00 | 79.71 | 55.60 | 83.60 | 90.63 | 92.62 |
12
Audit | $ | 209,000 | ||
Audit-Related | 16,500 | |||
Tax | — | |||
Total | $ | 225,500 |
13
14
15
000004 | 000000000.000 ext 000000000.000 ext 000000000.000 ext | |||||
MR A SAMPLE DESIGNATION (IF ANY) ADD 1 ADD 2 ADD 3 ADD 4 ADD 5 ADD 6 | Least Address Line | 000000000.000 ext 000000000.000 ext 000000000.000 ext 000000000.000 ext C 1234567890 J N T | ||||
o | Mark this box with an X if you have made changes to your name or address details above. |
A | Election of Directors |
For All | Withhold All | For All Except | |||||
01-T. W. Byrne,02-R. W. Cardin, | o | o | o | ||||
03-A. M. Doumet,04-W. G. Irmscher, | |||||||
05-E.A. Odishaw |
(Except nominee(s) written above.)
In their discretion, the proxies are authorized to vote
upon such other business as may properly be brought
before the Annual Meeting or any adjournment thereof.
B | Authorized Signatures - Sign Here - This section must be completed for your instructions to be executed. |
Signature 1 - Please keep signature within the box | Signature 2 - Please keep signature within the box | Date (mm/dd/yyyy) | ||
/ / |
n | 0 0 7 8 8 0 | 1 U P X | C O Y | + |
Proxy Solicited on Behalf of the Board of Directors
YOUR VOTE IS IMPORTANT! PLEASE MARK, SIGN, AND DATE THIS PROXY CARD AND RETURN IT PROMPTLY IN THE ACCOMPANYING ENVELOPE.
(Continued and to be signed on reverse side.)