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): March 11, 2010
Graham Corporation
 
(Exact name of Registrant as specified in its charter)
         
Delaware   1-8462   16-1194720
 
(State or other jurisdiction of
incorporation)
  (Commission
File Number)
  (IRS Employer
Identification No.)
         
20 Florence Avenue, Batavia, New York       14020
 
(Address of principal executive offices)       (Zip Code)
Registrant’s telephone number, including area code: (585) 343-2216
N/A
 
(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))
 
 
 

 


 

Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
          On March 11, 2010, the Compensation Committee of the Board of Directors of Graham Corporation (the “Company”) approved increases to the base salaries of Graham’s named executive officers, to be effective April 1, 2010, as follows:
                         
                    New  
Named Executive Officer   Current Base Salary     Percentage Increase     Base Salary  
James R. Lines,
  $ 265,000       3.8%     $ 275,000  
President and Chief Executive Officer
                       
 
                       
Jeff Glajch,
  $ 210,000       3.0%     $ 216,300  
Vice President — Finance & Administration and Chief Financial Officer
                       
 
                       
Alan Smith,
  $ 178,190       3.0%     $ 183,536  
Vice President of Operations
                       
 
                       
Jennifer Condame,
  $ 128,750       3.0%     $ 132,613  
Controller and Chief Accounting Officer
                       
 
                       
          On March 11, 2010, the Compensation Committee also increased Mr. Lines’ target percentage under the Company’s Annual Stock-Based Long-Term Incentive Award Plan for Senior Executives (the “Stock Bonus Plan”) from 35% to 42%, commencing with the fiscal year beginning April 1, 2010. The Stock Bonus Plan is described in the Company’s definitive proxy statement filed with the Securities and Exchange Commission on May 17, 2009 under the heading “Compensation of Named Executive Officers and Directors — Compensation Discussion and Analysis — Long-Term Equity Incentive Compensation.”
Item 8.01. Other Events.
          On March 11, 2010, the Company issued a press release announcing the payment of a cash dividend. The Company’s press release is attached to this Current Report on Form 8-K as Exhibit 99.1.
Item 9.01. Financial Statements and Exhibits.
     (d) Exhibits.
     
Exhibit No.   Description
99.1
  Press Release dated March 11, 2010 of Graham Corporation regarding the payment of a cash dividend.

 


 

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.
         
  Graham Corporation
 
 
Date: March 15, 2010  By:   /s/ Jeff Glajch    
    Jeff Glajch   
    Vice President — Finance & Administration and Chief Financial Officer   
 

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