PA | 23-0962915 | |
(State or other jurisdiction of | (IRS Employer | |
incorporation) | Identification No.) |
[ ] 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))
Dr. Reid is the President of Wayne State University, an urban research university located in Detroit, Michigan. He is also a director of Mack-Cali Realty Corporation and Handleman Corporation and sits on the Board of the Federal Reserve Bank of Chicago (Detroit Branch). Dr. Reid holds masters and PhD degrees in business and applied economics from The Wharton School of the University of Pennsylvania and bachelors and masters degrees in psychology from Howard University.
Dr. Reid was proposed to the Board by a group of investors led by Barington Capital Group, L.P. (such entities, collectively, the "Barington Group") pursuant to the terms of the previously disclosed agreement, dated as of August 2, 2006 (the "Agreement"), between the Company and the Barington Group. Dr. Reid has been appointed in the place of Max L. Lukens, a previous Barington nominee who r ecently resigned from the Board for personal reasons.
Dr. Reid will serve as a member of the Board's Audit Committee.
Except as contemplated in the Agreement, Dr. Reid does not have any direct or indirect interest in any transactions to which the Company, or its subsidiaries, was or is to be a party.
Dr. Reid will be compensated by the Company, solely on account of his duties as a Director, in accordance with the Company's non-management director compensation program, which is described in the Company's Definitive Proxy Statement on Schedule 14A filed with the Securities and Exchange Commission on May 2, 2007. In accordance with such program, coincident with his appointment to the Board, Dr. Reid was granted 1051 restricted stock units and options to purchase 1051 shares of the Company's common stock.
THE PEP BOYS - MANNY MOE & JACK | ||||||||
Date: December 12, 2007 | By: | /s/ Brian D. Zuckerman | ||||||
Brian D. Zuckerman | ||||||||
VP - General Counsel & Secretary | ||||||||
Exhibit No. | Description | |
EX-99.1 | Press Release dated December 12, 2007 |