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 and Exchange Act of 1934
Date of Report (Date of earliest event reported) March 3, 2005
Commission File Number: 001-31516
GETTY IMAGES, INC.
(Exact Name of Registrant as Specified in its Charter)
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| Delaware | | 98-0177556 |
(State or Jurisdiction of Incorporation or Organization) | | (I.R.S. Employer Identification No.) |
601 North 34th Street
Seattle, Washington 98103
(Address of Principal Executive Offices)
Registrant’s telephone number, including area code: (206) 925-5000
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 (see General Instruction A.2. below):
| ¨ | 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 1.01. ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT
On March 3, 2005, the Compensation Committee of the Board of Directors of Getty Images, Inc. (the “company”) authorized the payment of annual cash incentive awards to each of the company’s executive officers for the year ended December 31, 2004. The annual incentive awards were made pursuant to the company’s 2004 Non-Sales Bonus Plan, with payouts being determined both by the company’s financial performance in 2004 and each executive’s personal performance. The following table sets forth annual cash incentive awards earned by the named executive officers in 2004:
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NAME AND POSITION
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Jonathan D. Klein, Chief Executive Officer and Director | | $ | 828,208 |
Elizabeth J. Huebner, Senior Vice President and Chief Financial Officer | | | 229,400 |
M. Lewis Blackwell, Senior Vice President, Creative Customers1 | | | 147,352 |
Jeffrey L. Beyle, Senior Vice President and General Counsel | | | 141,520 |
Nicholas E. Evans-Lombe, Senior Vice President, Images and Services | | | 119,040 |
Bo T. Olofsson, Senior Vice President, Sales - EMEA1,2 | | | 22,546 |
| 1 | Amount was paid in British pounds and translated here to U.S. dollars based on an exchange rate of 1.83 U.S. dollars per British pound. |
| 2 | In addition to an annual incentive award, Mr. Olofsson was paid sales commissions. |
The company will provide additional information regarding the compensation of named executive officers in its definitive proxy statement to be filed with the Securities and Exchange Commission in March of 2005.
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.
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| GETTY IMAGES, INC. |
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| By: | | /s/ ELIZABETH J. HUEBNER
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| | | Elizabeth J. Huebner |
| | | Senior Vice President and Chief Financial Officer |
Date: March 9, 2005
