UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
Current Report
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report: April 21, 2005
Date of Earliest Event Reported: April 16, 2005
The Pep Boys - Manny, Moe & Jack
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(Exact name of registrant as specified in charter)
Pennsylvania 1-3381 23-0962915
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(State or other jurisdiction of (Commission (I.R.S. Employer ID number)
incorporation or organization) File No.)
3111 W. Allegheny Ave. Philadelphia, PA 19132
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(Address of principal executive offices) (Zip code)
215-430-9000
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(Registrant's telephone number, including area code)
Not Applicable
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(Former name or former address, if changed from 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 1.01 Entry into a Material Definitive Agreement
On April 16, 2005, The Human Resources Committee of the Board of Directors of
The Pep Boys - Manny, Moe & Jack (the "Company") approved the performance
criteria and the relative weighting of each criterion that will be used to
determine executive officer cash bonus awards under the Company's Annual
Incentive Bonus Plan (the "Incentive Plan") for the fiscal year ending
January 28, 2006 ("Fiscal Year 2005"). The Fiscal Year 2005 performance
criteria against which each of the executive officers will be measured are as
follows:
EVP- SVP- SVP-
Performance Merchandising SVP- Retail Service
Measure CEO & Marketing CFO Operations Operations
- ------------------------------ --- ------------- ---- ---------- ----------
Operating Profit 50% 30% 30% 30% 30%
Manager/Director Turnover 15% 9% 9% 9% 9%
Service Customer Service Index 15% 9% 9% 9% 9%
Working Capital 10% 6% 6% 6% 6%
Capital Expenditures 10% 6% 6% 6% 6%
Departmental Goals - 40% 40% 40% 40%
A copy of the Incentive Plan was filed as Exhibit 10.27 to the Company's Annual
Report on Form 10-K for the fiscal year ended January 31, 2004 and is
incorporated by reference herein.
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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.
THE PEP BOYS - MANNY, MOE & JACK
By: /s/ Harry F. Yanowitz
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Harry F. Yanowitz
Senior Vice President and Chief Financial
Officer
Date: April 21, 2005
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