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
January 25, 2007
Commission File Number | Registrant | State of Incorporation | IRS Employer Identification Number | |||
1-7810 2-38960 | Energen Corporation Alabama Gas Corporation | Alabama Alabama | 63-0757759 63-0022000 |
605 Richard Arrington Jr. Boulevard North Birmingham, Alabama | 35203 | |
| (Address of principal executive offices) | (Zip Code) |
(205) 326-2700
(Registrant’s telephone number including area code)
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 Departures of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers | |||||||||
At its meeting on January 24, 2007, the Energen Corporation Board of Directors authorized amendments to its executive Severance Compensation Agreements. A copy of the revised form of Severance Compensation Agreement is attached.
On January 25, 2007, Energen’s principal executive officer, principal financial officer and named executive officers entered into the amended Severance Compensation Agreement form as follows: | |||||||||
Name | Title | Factor | Base Period | ||||||
| Wm. Michael Warren, Jr. | Chairman and Chief Executive Officer – Energen and all subsidiaries | 100 | % | 12 months | |||||
| James T. McManus | President and Chief Operating Officer – Energen, President – Energen Resources Corporation | 300 | % | 36 months | |||||
| Charles W. Porter, Jr. | Vice President, Chief Financial Officer and Treasurer – Energen and all subsidiaries | 300 | % | 36 months | |||||
| Dudley C. Reynolds | President and Chief Operating Officer – Alabama Gas Corporation | 300 | % | 36 months | |||||
| John D. Woodruff | General Counsel and Secretary – Energen and all subsidiaries | 300 | % | 36 months | |||||
| ITEM 9.01 Financial Statements and Exhibits | |||||||||
(d) Exhibits | |||||||||
Exhibit No. | Description | ||||||||
| 99.1 | Form of Severance Compensation Agreement (07 form) | ||||||||
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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 thereunto duly authorized.
| ENERGEN CORPORATION | ||||
| January 29, 2007 | By | /s/ G. B. Carr | ||
G. B. Carr Vice President and Controller of Energen | ||||
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