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 (Date of earliest event reported): May 11, 2007
STEINWAY MUSICAL INSTRUMENTS, INC.
(Exact name of registrant as specified in its charter)
Delaware | | 001-11911 | | 35-1910745 |
(State or other jurisdiction | | (Commission File Number) | | (IRS Employer |
of incorporation) | | | | Identification No.) |
800 South Street, Suite 305, Waltham, Massachusetts 02453
(Address of principal executive offices) (Zip Code)
Registrant’s telephone number, including area code:
(781) 894-9770
N/A
(Former name or former address, if changed since 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:
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 May 11, 2007, Steinway Musical Instruments, Inc., a Delaware corporation (the “Company”), revised its compensation policy for Directors who are not employees of the Company (“Non-Employee Directors”). This change in compensation is effective beginning July 1, 2007. The new Non-Employee Directors Compensation is detailed in the table below.
NON-EMPLOYEE DIRECTORS COMPENSATION
Annual Retainers: | | | |
| | | |
All Non-Employee Directors | | $ | 25,000 | |
Additional Amount for Lead Director | | $ | 5,000 | |
| | | |
Committee Fees: | | | |
| | | |
Members of the Audit Committee | | $ | 12,500 | |
Members of the Compensation Committee | | $ | 5,000 | |
Members of the Option Committee | | $ | 5,000 | |
| | | |
Meeting Fees: | | | |
| | | |
Board or Committee Meeting | | $ | 1,000 | |
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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.
Date: May 15, 2007 | | STEINWAY MUSICAL INSTRUMENTS, INC. |
| | | | |
| | By: | | /s/ Dana D. Messina | |
| | | | |
| | Name: | | Dana D. Messina |
| | Title: | | President and Chief Executive Officer |
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