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EX-99.1 - EX-99.1 - VALASSIS COMMUNICATIONS INCd349777dex991.htm

 

 

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): May 3, 2012

VALASSIS COMMUNICATIONS, INC.

(Exact name of registrant as specified in its charter)

 

Delaware   1-10991   38-2760940

(State or Other Jurisdiction

of Incorporation)

 

(Commission

File Number)

 

(IRS Employer

Identification No.)

 

19975 Victor Parkway, Livonia, MI   48152
(Address of Principal Executive Offices)   (Zip Code)

(734) 591-3000

Registrant’s Telephone Number, Including Area Code

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 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))

 

 

 


Items to be Included in this Report

 

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

(e) As described below under Item 5.07, the stockholders of Valassis Communications, Inc. (the “Company”) approved an amendment to the Valassis Communications, Inc. 2008 Omnibus Incentive Compensation Plan (the “Plan”) on May 3, 2012, which authorizes an additional 1.1 million shares available for issuance under the Plan. A description of the material terms of the Plan is set forth under the heading “Approval of an Amendment to the Valassis Communications, Inc. 2008 Omnibus Incentive Compensation Plan to Increase the Number of Shares Available for Issuance Under the Plan (Proposal 2)” in the Company’s definitive proxy statement on Schedule 14A filed with the United States Securities and Exchange Commission on March 29, 2012 (the “Proxy Statement”), which description is hereby incorporated into this Item 5.02 by reference. The description of the Plan is qualified in its entirety by reference to the actual terms of the Plan, as amended, which are set forth in Exhibit C to the Proxy Statement.

 

Item 5.07. Submission of Matters to a Vote of Security Holders.

(a) The Company’s Annual Meeting of Stockholders (the “Annual Meeting”) was held on May 3, 2012.

(b) Stockholders voted on the matters set forth below:

1. The nominees for election to the Board of Directors were elected, until the next annual meeting of stockholders or until their respective successors are duly elected and qualified, based upon the following votes:

 

Nominee

   Votes For      Votes Against      Abstentions      Broker Non-Votes  

Joseph B. Anderson, Jr.

     29,883,741         1,660,156         42,316         5,372,400   

Patrick F. Brennan

     29,908,967         1,634,221         43,025         5,372,400   

Kenneth V. Darish

     31,059,317         476,756         50,140         5,372,400   

Dr. Walter H. Ku

     29,804,298         1,731,746         50,169         5,372,400   

Robert A. Mason

     31,147,039         396,922         42,252         5,372,400   

Robert L. Recchia

     28,466,758         3,076,589         42,866         5,372,400   

Thomas J. Reddin

     30,441,402         1,094,671         50,140         5,372,400   

Alan F. Schultz

     29,970,870         1,573,091         42,252         5,372,400   

Wallace S. Snyder

     31,263,428         272,645         50,140         5,372,400   

Ambassador Faith Whittlesey

     30,280,008         1,262,179         44,026         5,372,400   

2. The proposal to approve an amendment to the Valassis Communications, Inc. 2008 Omnibus Incentive Compensation Plan to increase the number of shares available for issuance under the plan was approved based on the following votes:

 

Votes for

     22,241,699   

Votes against

     9,315,794   

Abstentions

     28,720   

Broker Non-Votes

     5,372,400   

3. The proposal to approve, on an advisory basis, the compensation of the Company’s named executive officers was approved based upon the following votes:

 

Votes for

     29,280,990   

Votes against

     1,910,413   

Abstentions

     394,810   

Broker Non-Votes

     5,372,400   

4. The proposal to ratify the appointment of Deloitte & Touche LLP as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2012 was approved based upon the following votes:

 

Votes for

     36,469,390   

Votes against

     472,189   

Abstentions

     17,034   

There were no broker non-votes for this item.


5. The proposal to approve any adjournment of the Annual Meeting, if necessary or appropriate, to solicit additional proxies in favor of any or all of the foregoing proposals if there were not sufficient votes for those proposals was approved based upon the following votes:

 

Votes for

     33,289,924   

Votes against

     3,430,697   

Abstentions

     237,992   

There were no broker non-votes for this item.

 

Item 7.01. Regulation FD Disclosure.

On May 8, 2012, the Company issued a press release (the “Press Release”) announcing that the Company’s Board of Directors approved an increase to its stock repurchase program authorization by 6 million shares of its common stock. Furnished hereto as Exhibit 99.1 to this Current Report on Form 8-K is a copy of the Press Release.

The information furnished pursuant to Item 7.01 of this Current Report on Form 8-K (including Exhibit 99.1 hereto) shall not be considered “filed” under the Securities Exchange Act of 1934, as amended, nor shall it be incorporated by reference into any filings by the Company under the Securities Act of 1933, as amended, or under the Securities Exchange Act of 1934, as amended, unless the Company expressly sets forth in such filing that such information is to be considered “filed” or incorporated by reference therein.

 

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

 

Exhibit No.

  

Description

99.1    Press release of Valassis Communications, Inc., dated May 8, 2012.


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.

 

    VALASSIS COMMUNICATIONS, INC.
    By:   /s/ Todd Wiseley
Date: May 8, 2012     Name:     Todd Wiseley
    Title:   General Counsel, Executive Vice President of Administration and Secretary


Exhibit Index

 

Exhibit No.

  

Description

99.1    Press release of Valassis Communications, Inc., dated May 8, 2012.