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: March 1, 2006
Date of Earliest Event Reported: February 27, 2006
The Pep Boys - Manny, Moe & Jack
(Exact name of registrant as specified in charter)
Pennsylvania |
| 1-3381 |
| 23-0962915 | ||
(State or other jurisdiction of |
| (Commission |
| (I.R.S. Employer ID number) | ||
incorporation or organization) |
| File No.) |
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3111 W. Allegheny Ave. Philadelphia, PA |
| 19132 | ||||
(Address of principal executive offices) |
| (Zip code) | ||||
215-430-9000
(Registrant’s telephone number, including area code)
Not Applicable
(Former name or former address, if changed from 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 (see General Instruction A.2. below):
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 1.01. Entry into a Material Definitive Agreement
On February 27, 2006, the Board of Directors of The Pep Boys – Manny, Moe & Jack (the “Company”) approved the performance criteria and the relative weighting of each criterion that will be used to determine executive officer cash bonus awards under the Company’s Annual Incentive Bonus Plan for the fiscal year ending February 3, 2007 (“Fiscal Year 2006”). The Fiscal Year 2006 performance criteria against which each of the executive officers will be measured are as follows:
Performance Measure |
| CEO |
| All Other Executive Officers |
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Operating Profit |
| 40 | % | 24 | % |
Service Center Variable Profit |
| 15 | % | 9 | % |
Field Management Turnover |
| 15 | % | 9 | % |
Working Capital |
| 15 | % | 9 | % |
Service Center Customer Service Index |
| 15 | % | 9 | % |
Departmental Goals |
| — |
| 40 | % |
A copy of the Annual Incentive Bonus Plan was filed as Exhibit 10.27 to the Company’s Annual Report on Form 10-K for the fiscal year ended January 31, 2004 and is incorporated by reference herein.
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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 hereunto duly authorized.
| THE PEP BOYS - MANNY, MOE & JACK | ||
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| By: | /s/ Harry F. Yanowitz |
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| Harry F. Yanowitz | |
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| Senior Vice President and | |
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| Chief Financial Officer | |
Date: March 1, 2006
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