================================================================================
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): March 8, 2007
Commission file numbers: 333-82084-01
333-82084
PAPERWEIGHT DEVELOPMENT CORP. APPLETON PAPERS INC.
(Exact Name of Registrant as (Exact Name of Registrant as
Specified in Its Charter) Specified in Its Charter)
----------
Wisconsin Delaware
(State or Other Jurisdiction of (State or Other Jurisdiction of
Incorporation or Organization) Incorporation or Organization)
39-2014992 36-2556469
(I.R.S. Employer Identification No.) (I.R.S. Employer Identification No.)
825 East Wisconsin Avenue,
P.O. Box 359, Appleton,
Wisconsin 54912-0359
(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code: (920) 734-9841
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:
[ ] Written communications pursuant to Rule 425 under the Securities Act
(17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Securities 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 PRINCIPAL OFFICERS; ELECTION OF DIRECTORS;
APPOINTMENT OF PRINCIPAL OFFICERS.
On March 8, 2007, the board of directors of Paperweight Development Corp.
appointed Jeffrey J. Fletcher as Principal Accounting Officer of Paperweight
Development Corp. and also elected Jeffrey J. Fletcher as Corporate Controller
of Paperweight Development Corp. On March 8, 2007, the board of directors of
Appleton Papers Inc. appointed Jeffrey J. Fletcher as Principal Accounting
Officer of Appleton Papers Inc. and also elected Jeffrey J. Fletcher as
Corporate Controller of Appleton Papers Inc. A copy of the March 12, 2007, press
release regarding Mr. Fletcher is attached hereto as Exhibit 99.1.
Mr. Fletcher, 54, previously served as corporate controller of the
privately-held dairy processing and dairy products company Wells' Dairy, Inc. in
Le Mars, Iowa. From 2003 to 2005, Mr. Fletcher was the president and chief
financial officer of IP Innovations, a $30 million start-up financial services
company backed by Principal Financial Group. Prior to joining IP Innovations,
Mr. Fletcher held senior level financial positions at La Petite Academy, Inc.,
Hirsh Industries, Inc., Transition Strategies, EQ-The Environmental Quality
Company and Gaylord Container Corporation. Mr. Fletcher began his career in
public accounting with Coopers & Lybrand. Mr. Fletcher received a master's
degree in business administration from Northwestern University and a bachelor's
degree in accounting from the University of Iowa.
Mr. Fletcher will receive an annual base salary of $190,000, subject to annual
review beginning in 2008, and will be eligible to receive an annual performance
bonus (with a target bonus of 25% of his annual base salary and a bonus of 50%
or more of his annual base salary if outstanding levels are met) in accordance
with Appleton Papers Inc.'s ("Company's") performance bonus plan, which will be
determined by the compensation committee of the Company's board of directors.
Mr. Fletcher will receive a cash sign-on bonus of $10,000 after 90 days of
employment, and he will receive a performance bonus for the 2007 fiscal year
pro-rated based on his base salary actually paid in 2007. Mr. Fletcher will be
eligible for coverage under the Company's salaried benefits package (including
participation in the Company's defined benefit pension plan and the Appleton
Papers Retirement Savings and Employee Stock Ownership Plan). In addition, Mr.
Fletcher will receive relocation assistance in connection with his move to the
Appleton, Wisconsin area in accordance with the Company's relocation policy.
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS.
(d) Exhibits
99.1 Press Release, dated March 12, 2007.
2
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.
Date: March 13, 2007
Paperweight Development Corp.
By: /s/ Angela M. Tyczkowski
----------------------------
Name: Angela M. Tyczkowski
Title: Vice President, Secretary
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.
Date: March 13, 2007
Appleton Papers Inc.
By: /s/ Angela M. Tyczkowski
-----------------------------
Name: Angela M. Tyczkowski
Title: Vice President, Secretary,
General Counsel and
Chief Compliance Officer
4
EXHIBIT INDEX
EXHIBIT NO. DESCRIPTION
- ----------- -----------------------------------------------------------------
99.1 Press Release, dated March 12, 2007.
5