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): April 26, 2007
SPARTAN MOTORS, INC
(Exact name of registrant as
specified in its charter)
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Michigan |
0-13611 |
38-2078923 |
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1165 Reynolds Road |
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Registrant's telephone number,
including area code: (517) 543-6400
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):
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))
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Item 5.02 |
Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers. |
On April 26, 2007 the Board of Directors of Spartan Motors, Inc. (the "Company") increased the size of the board from seven to eight members and elected Hugh W. Sloan, deputy chairman of the Woodbridge Foam Corporation, to the board. The board appointed Mr. Sloan to the class of directors having a term expiring in 2008. The Board has determined that Mr. Sloan is an "independent director" within the meaning of applicable rules and regulations of the Securities and Exchange Commission and the Nasdaq Stock Market. Mr. Sloan will serve as a member of the Audit Committee and the Compensation Committee.
There are no arrangements or understandings between Mr. Sloan and any other person pursuant to which he was selected as a director, nor are the any transactions in which Mr. Sloan has an interest requiring disclosure under Item 404(a) of Regulation S-K.
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Item 7.01 |
Regulation FD Disclosure. |
On May 1, 2007, Spartan Motors, Inc. issued the attached press release announcing the appointment of Mr. Sloan to the Board of Directors. The full text of the press release is attached as Exhibit 99.1 to this report. The press release is furnished to, and not filed with, the Commission.
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Item 9.01. |
Financial Statements and Exhibits. |
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(d) |
Exhibits: The following document is attached as an exhibit to this report on Form 8-K: |
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99.1 |
Press Release dated May 1, 2007 |
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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SPARTAN MOTORS, INC. |
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Date: May 1, 2007 |
By /s/ James W. Knapp |
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James W. Knapp |
EXHIBIT INDEX
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Exhibit Number |
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Document |
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99.1 |
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Spartan Motors, Inc. Press Release dated May 1, 2007. |
EXHIBIT 99.1
FOR IMMEDIATE RELEASE
Spartan Motors Adds Hugh W. Sloan to Board of Directors
CHARLOTTE, Michigan, May 1, 2007 - Spartan Motors, Inc. (Nasdaq: SPAR) today announced its board of directors has increased the size of the board from seven to eight members and elected Hugh W. Sloan, deputy chairman of the Woodbridge Foam Corporation, to the board. Sloan will serve as an independent director and on the audit and compensation committees.
"Hugh Sloan brings extensive operational and board experience to Spartan," said David R. Wilson, chairman of Spartan Motors. "He has a successful track record of building growth companies, and his experience with global markets will be a critical perspective as we focus on becoming the premier manufacturer of specialty vehicles and chassis in North America."
Sloan is deputy chairman of the board of the Woodbridge Foam Corporation, a $1 billion supplier of polyurethane foam to the automotive industry with 85 operations worldwide. For more than 20 years, Sloan held various management positions with Woodbridge Foam Corporation, including president of the company's automotive group. Sloan is a member of the boards of directors of Manulife Financial Corporation and Wescast Industries Inc. and a former president, general manager and director of Budd Canada, Inc. He is also a former Staff Assistant to President Richard Nixon and a former Trustee of Princeton University.
About Spartan Motors
Spartan Motors, Inc. (www.spartanmotors.com) designs, engineers and manufactures custom chassis and vehicles for the recreational vehicle, fire truck, ambulance, emergency-rescue and specialty vehicle markets. The Company's brand names - SpartanTM, Crimson FireTM, Crimson Fire AerialsTM, and Road RescueTM - are known for quality, value, service and being the first to market with innovative products. The Company employs approximately 1,100 at facilities in Michigan, Pennsylvania, South Carolina, and South Dakota. Spartan reported sales of $445 million in 2006 and is focused on becoming the premier manufacturer of specialty vehicles and chassis in North America.
This release contains forward-looking statements, including, without limitation, statements concerning our business, future plans and objectives and the performance of our products. These forward-looking statements involve certain risks and uncertainties that ultimately may not prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements. Technical complications may arise that could prevent the prompt implementation of the plans outlined above. The company cautions that these forward-looking statements are further qualified by other factors including, but not limited to, those set forth in the company's Annual Report on Form 10-K filing and other filings with the United States Securities and Exchange Commission (available at http://www.sec.gov). Government contracts and subcontracts typically involve long payment and purchase cycles, competitive bidding, qualification requirements, delays or changes in funding, extensive speci fication development and changes, price negotiations and milestone requirements. An announced award of a governmental contract is not equivalent to a finalized executed contract and does not assure that orders will be issued and filled. Government agencies also often retain some portion of fees payable upon completion of a project and collection of contract fees may be delayed for long periods, which can negatively impact both prime contractors and subcontractors. The company undertakes no obligation to publicly update or revise any statements in this release, whether as a result of new information, future events or otherwise, except as required by law.
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CONTACT: |
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John Sztykiel, CEO, or Jim Knapp, CFO |
Jeff Lambert or Ryan McGrath |
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