form8k_06092008.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)
June 3, 2008


ATC TECHNOLOGY CORPORATION
(Exact name of registrant as specified in its charter)


Delaware
0-21803
95-4486486
(State or other jurisdiction of incorporation)
(Commission File Number)
(IRS Employer Identification No.)

1400 Opus Place, Suite 600, Downers Grove, Illinois
60515
(Address of principal executive offices)
(Zip Code)

Registrant's telephone number, including area code
(630) 271-8100

 
 
(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):

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; Compensatory Arrangements
of Certain Officers.

Stock Awards to Executive Officers

On June 3, 2008, the Compensation and Nominating Committee of the Board of Directors of ATC Technology Corporation granted shares of restricted stock and stock options under our Stock Incentive Plans to our principal financial officer and certain named executive officers as follows:

 
Number of Shares of
  Restricted Stock  
Number of
Stock Options
Todd R. Peters                                       
9,012
30,162
John M. Pinkerton                                       
2,748
9,196
Joseph Salamunovich                                       
3,052
10,213
Richard L. Stanley                                       
6,656
22,275

The restricted stock vests in one-third increments on each of June 3, 2009, 2010 and 2011.  No consideration was paid for the restricted stock.  The options vest and become exercisable in one-third increments on each of June 3, 2009, 2010 and 2011 and expire on June 3, 2018.  The option exercise price is $22.02 (the closing price of our stock on the Nasdaq Global Market System on the date of grant).

Stock Awards to Independent Directors

On June 4, 2008, our Board of Directors granted 2,000 shares of restricted stock and 6,000 stock options under our Stock Incentive Plans to each of our independent directors (Robert L. Evans, Curtland E. Fields, Dr. Michael J. Hartnett, Michael D. Jordan, S. Lawrence Prendergast and Edward Stewart).  The restricted stock vests in one-third increments on each of June 4, 2009, 2010 and 2011.  No consideration was paid for the restricted stock.  The options vest and become exercisable in one-third increments on each of June 4, 2009, 2010 and 2011 and expire on June 4, 2018.  The option exercise price is $22.59 (the closing price of our stock on the Nasdaq Global Market System on the date of grant).

Special Deferred Compensation Payments to Executive Officers

On June 3, 2008, our Compensation and Nominating Committee approved special contributions to our nonqualified deferred compensation plan in the following amounts for our principal financial officer and certain named executive officers as follows:

 
Contribution to
Deferred Comp Plan
William L. Conley, Jr.                                       
$2,158
John M. Pinkerton                                       
$1,311
Joseph Salamunovich                                       
$2,214


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.

Dated:    June 9, 2008
ATC TECHNOLOGY CORPORATION
                         
 
By:
 
/s/ Joseph Salamunovich
   
Title:   Vice President


 
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