- Current report filing (8-K)
04 11월 2010 - 5:58AM
Edgar (US Regulatory)
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
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Date
of report (Date of earliest event reported):
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October 31, 2010
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(Exact name of registrant as specified in its charter)
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Delaware
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0-22010
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72-0843540
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(State
or other jurisdiction of
incorporation)
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(Commission
File Number)
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(I.R.S.
Employer Identification
No.)
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5221 N. OConnor Blvd., Suite 500
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Irving, Texas
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75039
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(Address of principal executive offices)
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(Zip Code)
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Registrants
Telephone Number, including area code:
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(972)
869-3400
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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:
o
Written communications
pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o
Soliciting material pursuant
to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17
CFR 240.14d-2(b))
o
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17
CFR 240.13e-4(c))
Item
2.02 Results of Operations
and Financial Condition.
On
November 2, 2010, Thomas Group, Inc. issued a press release
announcing the results of operations and financial condition of Thomas Group, Inc.
for the three and nine months ended September 30, 2010. A copy of the press release is furnished
herewith and attached hereto as Exhibit 99.1.
The
information in this Item 2.02 shall not be deemed filed for purposes of Section 18
of the Securities Exchange Act of 1934, as amended (the Exchange Act), or
incorporated by reference in any filing under the Securities Act of 1933, as
amended, or the Exchange Act, unless specifically identified therein as being
expressly incorporated by reference in such filing. The exhibits contain, and
may implicate, forward-looking statements regarding the registrant and include
cautionary statements identifying important factors that could cause actual
results to differ materially from those anticipated.
Item 5.02. Departure of Directors or Certain Officers; Election of
Directors; Appointment of Certain Officers; Compensatory Arrangements of
Certain Officers.
Effective
November 1, 2010, Thomas Group, Inc. (the Company) implemented temporary
partial furloughs and salary reductions for members of the Companys management
team in order to reduce expenses.
Members of the management team are subject to a flexible work schedule
and adjusted compensation based on job requirements, including utilization on
client engagements.
Included
in the partial furloughs and reduction in work schedule along with proportional
reduction in current compensation are the named executive officers of the
Company - Michael McGrath, Executive
Chairman, President and Chief Executive Officer; Frank Tilley, Vice President
and Chief Financial Officer; and Robin Stacey Vice PresidentHuman
Resources. Effective November 1, 2010,
under the current plan, the maximum monthly amount payable to these named
officers remains $27,500, $20,000, and $13,333 respectively, their previously
existing monthly compensation, but this amount will be reduced proportionally
from time to time.
The
work schedule of all members of the management team, including the named
executives, will be re-evaluated periodically and work schedules and salaries
may be adjusted as needed to ensure that necessary functions are performed
during this period and to accommodate further changes in business conditions
and changes in individual utilization on client engagements.
Effective
October 31, 2010, Barbara D. Stinnett, Executive Vice President and Chief
Customer Officer Worldwide Customer Operations resigned to pursue other
opportunities more closely aligned with her interests as the Company focuses
primarily on sales in the government sector in the near future.
2
Item
9.01 Financial Statements and Exhibits
(d)
Exhibits
Exhibit Number
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Description
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99.1
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Press
Release dated November 2, 2010
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3
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.
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Thomas
Group, Inc.
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(Registrant)
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Date:
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November 3,
2010
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By:
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/s/
FRANK TILLEY
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Frank
W. Tilley,
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Chief
Financial Officer and Vice President
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4
Thomas Grp., Inc. (MM) (NASDAQ:TGIS)
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Thomas Grp., Inc. (MM) (NASDAQ:TGIS)
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