Table of Contents
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
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): March 19, 2008
Ameristar Casinos, Inc.
(Exact name of registrant as specified in its charter)
Nevada | 000-22494 | 880304799 | ||
(State or other jurisdiction of incorporation) | (Commission File Number) | (IRS Employer Identification No.) |
3773 Howard Hughes Parkway, Suite 490S, Las Vegas, Nevada | 89169 | |
(Address of principal executive offices) | (Zip Code) |
Registrant’s telephone number, including area code: (702) 567-7000
Not Applicable
(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 (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)) |
TABLE OF CONTENTS
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers |
Table of Contents
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
(e) 2008 Performance Goal and Bonus Opportunities for Executive Officers
On March 19, 2008, the Compensation Committee of our Board of Directors established the 2008 performance goal and bonus opportunities for each of our executive officers for purposes of our Performance-Based Annual Bonus Plan (the “Bonus Plan”). The performance goal is a specified amount of 2008 consolidated earnings before interest, taxes, depreciation and amortization, as adjusted (Adjusted EBITDA). The bonus opportunities are: John M. Boushy, Chief Executive Officer and President - $800,000 (100% of base salary); Gordon R. Kanofsky, Executive Vice President and Co-Chairman of the Board - $446,250 (85% of base salary); Ray H. Neilsen, Senior Vice President and Co-Chairman of the Board - $225,000 (75% of base salary); Peter C. Walsh, Senior Vice President and General Counsel - $300,000 (75% of base salary); and Thomas M. Steinbauer, Chief Financial Officer - $300,000 (75% of base salary). Actual bonuses paid under the Bonus Plan for 2008 will range from 0% to 200% of each executive officer’s bonus opportunity, depending on actual Adjusted EBITDA as a percentage of the performance goal. The Bonus Plan does not preclude the Compensation Committee, acting in its discretion, from awarding any executive officer any additional cash bonus or other compensation.
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.
Ameristar Casinos, Inc. | ||||
March 24, 2008 | By: | /s/ Peter C. Walsh | ||
Name: Peter C. Walsh | ||||
Title: Senior Vice President and General Counsel | ||||
- 2 -