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): January 31, 2008
STEINWAY MUSICAL INSTRUMENTS, INC.
(Exact name of registrant as specified in its charter)
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Delaware |
| 001-11911 |
| 35-1910745 |
(State or other jurisdiction of incorporation) |
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800 South Street, Suite 305, Waltham, Massachusetts 02453 | ||||
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Registrant’s telephone number, including area code: | ||||
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))
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ITEM 1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT
On January 31, 2008, a new Labor Contract Agreement was signed between Musser, a division of Steinway Musical Instruments, Inc.’s subsidiary Conn-Selmer, Inc., and Carpenter Local 1027 Mill-Cabinet-Industrial Division, an affiliate of the Chicago Regional Council of Carpenters of the United Brotherhood of Carpenters and Joiners of America (“the Union”). In November 2007, Musser and the Union agreed to a new two-year term, including a 1% general wage increase each of the two years of the contract and a pension plan increase. Medical contributions were unchanged. The overall impact on costs is approximately 1.5% per year. The contract is effective November 19, 2007 through November 21, 2009.
ITEM 5.02 DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS
In a press release dated January 31, 2008, Steinway Musical Instruments, Inc. (the “Company”) announced that, effective January 31, 2008 the Company increased its number of Directors to a total of eight and elected Mr. David Lockwood to fill the newly created directorship position effective January 31, 2008. Mr. Lockwood will not serve on any Committee of the Board at this time and will not receive compensation for his service on the Board. A full text of the press release is included as Exhibit 99.1 to this Report and is incorporated herein by reference.
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS
The following exhibits are filed as part of this Current Report on Form 8-K.
Exhibit No. |
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10.1 |
| Labor Contract Agreement signed January 31, 2008 between Musser, a division of Conn-Selmer, Inc., and Carpenter Local 1027 effective November 19, 2007 through November 21, 2009. |
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99.1 |
| Press release dated January 31, 2008 announcing the appointment of David Lockwood to the Steinway Musical Instruments, Inc. Board of Directors. |
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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: January 31, 2008 | STEINWAY MUSICAL INSTRUMENTS, INC. |
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| By: | /s/ Dana D. Messina |
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| Name: | Dana D. Messina |
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| Title: | President and Chief Executive Officer |
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EXHIBIT INDEX
Exhibit No. |
| Description |
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10.1 |
| Labor Contract Agreement signed January 31, 2008 between Musser, a division of Conn-Selmer, Inc., and Carpenter Local 1027 effective November 19, 2007 through November 21, 2009. |
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99.1 |
| Press release dated January 31, 2008 announcing the appointment of David Lockwood to the Steinway Musical Instruments, Inc. Board of Directors. |
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