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): September 20, 2005
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AMREP CORPORATION
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(Exact Name of Registrant as Specified in Charter)
Oklahoma 1-4702 59-0936128
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(State or Other Jurisdiction (Commission File (IRS Employer
of Incorporation) Number) Identification Number)
641 Lexington Avenue, New York, New York 10022
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(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code: (212) 705-4700
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Not Applicable
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(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):
|_| Written communications pursuant to Rule 425 under the Securities Act (17
CFR 230.425)
|_| 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))
Item 1.01 Entry into a Material Definitive Agreement.
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On September 20, 2005, the Compensation and Human Resources Committee of
AMREP Corporation (the "Company"), approved annual salary increases to the
indicated amounts effective October 3, 2005, and performance bonuses for
performance during the Company's fiscal year ended April 30, 2005 for executive
officers, as follows:
James Wall, Director and Senior Vice President of the Company; Chairman of
the Board, President and Chief Executive Officer of the Company's AMREP
Southwest Inc. subsidiary - $50,000 bonus;
Peter M. Pizza, Vice President, Chief Financial Officer and Treasurer of
the Company - $179,400 annual salary and $10,000 bonus; and
Michael P. Duloc, Chief Operating Officer of the Company's fulfillment and
distribution services businesses - $226,325 annual salary and $22,500
bonus.
SIGNATURE
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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.
AMREP CORPORATION
Date: September 26, 2005 By: /s/ Peter M. Pizza
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Peter M. Pizza
Vice President and
Chief Financial Officer
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