UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 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): July 14, 2006
DENBURY RESOURCES INC.
(Exact name of Registrant as specified in its charter)
| Delaware | |
| (State or other jurisdiction of incorporation or organization) | |
| | |
1-12935 | | 20-0467835 |
(Commission File Number) | | (I.R.S. Employer Identification No.) |
| | |
5100 Tennyson Parkway Suite 3000 Plano, Texas | | 75024 |
(Address of principal executive offices) | | (Zip code) |
Registrant’s telephone number, including area code: | | (972) 673-2000 |
_____________________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 (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)) |
Section 1 – Registrant’s Business and Operations
Item 1.01. | Entry into a Material Definitive Agreement |
On July 14, 2006, the Compensation Committee of the Board of Directors approved a 5% increase in the base salary for all executive officers (7 individuals) of Denbury effective August 1, 2006. This percentage increase in officer base salaries matches the 5% raise in base salaries given to all other Company employees effective July 1, 2006. The Company’s Board of Directors considers these salary increases necessary in order to keep the Company’s compensation competitive with that of its industry peers and to better retain its officers and employees given the continued high activity levels in the oil and gas exploration and production industry and accompanying intense competition for personnel.
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.
Denbury Resources Inc.
(Registrant)
Date: July 14, 2006 | By: | /s/ Phil Rykhoek | |
| Phil Rykhoek | |
| Senior Vice President & Chief |
| Financial Officer | |
| | | | | |
