drl8k.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 6,
2008
Commission
file number 0-21513
DXP
Enterprises, Inc.
(Exact
name of registrant as specified in its charter)
|
Texas
|
76-0509661
|
|
(State
or other jurisdiction of incorporation or organization)
|
(I.R.S.
Employer Identification Number)
|
|
|
|
|
7272
Pinemont, Houston, Texas 77040
|
|
(Address
of principal executive offices)
|
Registrant’s
telephone number, including area code:
(713)
996-4700
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:
[ ] 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
On March
6, 2008, the Compensation Committee of the Board of Directors of DXP
Enterprises, Inc. (the “Company”) established an equity incentive program under
which David R. Little can earn an award of up to $100,000 of common stock under
the 2005 Restricted Stock Plan each year for three years.
The
shares will be awarded on March 31 of each year based upon the closing price on
March 31. The value of each award will be determined based upon the
growth in sales and net income for the preceding fiscal year. If
sales and net income each increase by 20% or more for the preceding fiscal year
the value of the award will be $100,000. Growth of less than 10% in
sales and net income will result in an award of zero. Growth of
between 10% and 20% will result in an award between zero and
$100,000. The first award under this program will be issued on March
31, 2009.
SIGNATURE
Pursuant
to the requirements of the Securities Exchange Act of 1934, as amended, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
DXP ENTERPRISES, INC.
March 7,
2008 By: /s/ MAC
MCCONNELL
Mac McConnell
Senior Vice President and Chief
Financial Officer