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): February 26, 2007
LIZ CLAIBORNE, INC.
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(Exact name of registrant as specified in its charter)
DELAWARE 001-10689 13-2842791
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(State or other (Commission file number) (I.R.S. Employer
jurisdiction of Identification No.)
incorporation)
1441 BROADWAY, NEW YORK, NEW YORK, 10018
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(Address of Principal Executive Offices)
Registrant's Telephone Number, Including Area Code: (212) 354-4900
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 5.02 DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS;
APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS.
On February 26, 2007, the Compensation Committee of the Board of Directors of
Liz Claiborne, Inc. (the "Registrant") approved the granting of shares of
restricted stock effective as of March 2, 2007 (the "Grant Date") under the
stockholder-approved Liz Claiborne, Inc. 2000 Stock Incentive Plan, to the
following executive officers:
Name: Title: Number of Shares:
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Trudy F. Sullivan President 22,000
Lawrence D. McClure Senior Vice President; 1,650
Human Resources
The shares granted vest in equal increments on each of the first and second
Grant Date anniversary.
On February 26, 2007, the Compensation Committee also approved an increase in
the salary of Lawrence McClure, from $475,000 to $510,000, such increase to be
effective as of March 9, 2007.
SIGNATURE
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.
LIZ CLAIBORNE, INC.
Dated: March 2, 2007 By: /s/ Nicholas Rubino
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Name: Nicholas Rubino
Title: Vice President, Deputy
General Counsel and Secretary