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 5, 2008
(Exact
name of registrant as specified in its charter)
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Delaware
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000-26427
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77-0454966
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(State
or other jurisdiction
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(Commission
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(IRS
Employer
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of
incorporation)
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File
Number)
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Identification
No.)
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12959
Coral Tree Place, Los Angeles, CA
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90066-7020
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(Address
of principal executive offices)
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(Zip
Code)
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Registrant's
telephone number, including area code:
(310)
482-5800
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:
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))
On
March
5, 2008, the compensation committee of our Board of Directors approved a
non-equity incentive plan for 2008 (the “2008 Plan”) under which our executive
management is eligible for cash bonus awards. The 2008 Plan set a base level
aggregate bonus pool (the “Base Pool”), which may be adjusted based on our
performance relative to targets for 2008 revenue, 2008 EBITDA, and 2008 customer
acquisition. Depending on our actual 2008 performance in these areas, the final
bonus pool could range from zero to twice the Base Pool. Once the final bonus
pool is determined after year end, it will be allocated to individual employees
by the compensation committee based on its assessment of that employee’s
individual performance. No individual executive manager has an individual bonus
guarantee under the 2008 Plan, so any individual manager could receive a bonus
of zero. The compensation committee set the amount of the Base Pool so that
executive management as a group would receive a total cash compensation for
2008
at approximately the median level (50th
percentile) versus comparable individuals at comparable companies. The final
bonus awards could be higher or lower that those prescribed by the 2008 Plan
at
the discretion of the compensation committee.
SIGNATURES
Pursuant
to the requirements of the Securities Act of 1934, the registrant has duly
caused this report to be signed on its behalf by the undersigned thereunto
duly
authorized.
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Stamps.com Inc.
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(Registrant)
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| March 11,
2008 |
/s/ Kenneth
McBride |
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Date
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(Signature) |
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Kenneth
McBride,
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Chief
Executive Officer
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