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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): December 14, 2007
HAMPSHIRE GROUP, LIMITED
(Exact name of Registrant as specified in its charter)
Delaware 000-20201 06-0967107
(State or other jurisdiction of (Commission File Number) (I.R.S. Employer
incorporation or organization) Identification No.)
1924 Pearman Dairy Road Anderson, South Carolina 29625
(Address of principal executive offices) (Zip code)
(864) 231-1200
(Registrant's telephone number including area code)
Not applicable
(Former name and 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))
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Item 5.02. Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of
Certain Officers.
Jeffrey Meier, the Senior Vice President of Global Sourcing of Hampshire Group,
Limited (the "Company"), Jonathan Norwood, the Company's Vice President and
Chief Financial Officer, and Heath Golden, the Company's Vice President of
Administration and General Counsel (each, an "Executive") are each eligible to
receive an annual bonus (the "Annual Bonus") pursuant to the Company's 2007
annual bonus program (the "Program"). Pursuant to the Program, each Executive is
eligible to receive an Annual Bonus of up to 100% of his annual base salary upon
the Company's achievement of 130% of the budgeted annual operating income
established by the Compensation Committee of the Board of Directors of the
Company (the "Compensation Committee"). Mr. Norwood and Mr. Golden were each
guaranteed a minimum Annual Bonus in 2007 equal to 60% and 40%, respectively, of
his annual base salary. While the actual annual operating income for 2007 will
not be determined until March 2008, the Compensation Committee has determined,
in accordance with past practices, to advance $68,850, $63,000 and $55,000 to
Messrs. Meier, Norwood and Golden, respectively. The remaining portion of each
Executive's Annual Bonus will be paid to the Executive following the
Compensations Committee's approval of the Company's actual operating income for
2007. On December 14, 2007, the Compensation Committee also approved a special
bonus of $150,000 for each Mr. Norwood and Mr. Golden.
Item 9.01 Financial Statements and Exhibits.
Exhibit No. Description
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NONE.
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, thereunto duly authorized.
HAMPSHIRE GROUP, LIMITED
By: /s/ Heath L. Golden
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Name: Heath L. Golden
Title: Vice President, General
Counsel and Secretary
Dated: December 20, 2007