UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section l3 and l5(d) of the
Securities Exchange Act of l934
March 16, 2007
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Date of report (date of earliest event reported)
STANDARD PARKING CORPORATION
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(Exact Name of Registrant as Specified in Its Charter)
Delaware
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(State or Other Jurisdiction of Incorporation)
000-50796 16-1171179
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(Commission File Number) (IRS Employer Identification No.)
900 N. Michigan Avenue, Suite 1600, Chicago, Illinois 60611
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(Address of Principal Executive Offices) (Zip Code)
(312) 274-2000
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(Registrant's Telephone Number, Including Area Code)
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.
In March 2007, our Board of Directors authorized us to repurchase our
common stock, on the open market or through private repurchases, for a value not
to exceed $20 million, provided that we meet certain financial tests. In
connection with this stock repurchase program, we also entered into an agreement
on March 16, 2007 with Steamboat Industries LLC, our majority shareholder, to
repurchase from Steamboat shares at the same price that we pay in each
open-market purchase. The foregoing summary is subject in all respects to the
actual terms of the Stock Repurchase Agreement, a copy of which is attached as
Exhibit 10.1 to this Form 8-K.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
10.1 Stock Repurchase Agreement, dated March 16, 2007, by and between
Steamboat Industries LLC and the Registrant.
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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.
STANDARD PARKING CORPORATION
Date: March 19, 2007 By: /s/ G. Marc Baumann
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G. Marc Baumann
Chief Financial Officer
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INDEX TO EXHIBITS
EXHIBIT DESCRIPTION OF EXHIBIT
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10.1 Stock Repurchase Agreement, dated March 16, 2007, by and between
Steamboat Industries LLC and the Registrant.
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