DE | ||
(State or Other Jurisdiction of | (I.R.S. Employer | |
Incorporation or Organization) | Identification No.) |
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act(17CFR240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act(17CFR240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act(17CFR240.13e-4(c))
Items to be Included in this Report
Mr. Zacherl is employed as Chief Financial Office r of Learning Tree pursuant to an employment agreement, effective as of July 20, 2005. Mr. Zacherl is an at-will employee, will be paid $210,000 in base compensation and will be granted options to purchase 50,000 shares of Learning Tree's common stock vesting over four (4) years, at fair market value on the date of the grant. For the year ended September 30, 2006, Mr. Zacherl will be eligible to receive an annual incentive bonus up to $66,000, with Mr. Zacherl's actual bonus to be determined by the compensation committee of Learning Tree's Board of Directors. It is anticipated that the structure of incentive bonus awards for fiscal year 2006 will be similar to fiscal year 2005, which is based on: revenue performance, profitability, quality performance and the successful completion of Learning Tree's Sarbanes-Oxley Act project under Rule 404.
99.1 Press release dated July 20, 2005, announcing the hiring of LeMoyne T. Zacherl as Chief Financial Officer.
LEARNING TREE INTERNATIONAL INC | ||||||||
Date: July 20, 2005. | By: | /s/ Nicholas R. Schacht | ||||||
Nicholas R. Schacht | ||||||||
President | ||||||||
Exhibit No. | Description | |
EX-99.1 | Exhibit 99.1 Press Release |