Form 8-K

 

 

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 19, 2011

 

 

PACCAR Inc

(Exact name of registrant as specified in its charter)

 

 

 

Delaware   001-14817   91-0351110

(State or other jurisdiction

of incorporation)

 

(Commission

File Number)

 

(IRS Employer

Identification No.)

777 106th Avenue NE, Bellevue, WA 98004

(Address of principal executive offices) (Zip Code)

Registrant’s telephone number, including area code (425) 468-7400

 

 

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.):

 

¨ 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))

 

 

 


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

Item 502(f). On April 19, 2011, the Compensation Committee of the PACCAR Inc Board of Directors approved a Long Term Performance Cash Award (“LTIP Cash Award”) for the 2008-2010 cycle under the Company’s Long Term Incentive Plan for the Named Executive Officers identified in the Company’s March 10, 2011 proxy statement. The total 2010 compensation for each Named Executive Officer reported in the Summary Compensation Table on page 20 of the Company’s 2011 proxy statement has been recalculated to include the LTIP Cash Award as follows:

 

Named Executive Officer

   Non-Equity Incentive Plan
Compensation

LTIP Cash Award
     Total Compensation  

M. C. Pigott

   $ 184,275       $ 7,916,948   

T. E. Plimpton

   $ 58,149       $ 5,025,229   

J. G. Cardillo

   $ 362,439       $ 3,674,891   

D. D. Sobic

   $ 126,126       $ 2,117,098   

R. J. Christensen

   $ 148,860       $ 1,796,663   

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

(a) The annual meeting of stockholders was held on April 20, 2011.

(b) Following is a brief description and vote count of all items voted on at the annual meeting:

Item 1. Election of Directors.

The following persons were elected to serve as Class I directors with a term expiring in 2014:

 

Nominee

   Shares Voted
“For”
     Shares
Withheld
     Broker
Nonvotes
 

J. M. Fluke, Jr.

     304,370,735         12,310,030         415   

K. S. Hachigian

     314,196,037         2,484,728         415   

S. F. Page

     304,175,390         12,505,375         415   

T. E. Plimpton

     305,906,352         10,774,413         415   

Item No. 2: Advisory Vote on Compensation of Named Executive Officers

Item No. 2 was approved with the following vote:

 

Shares Voted

“For”

   Shares Voted
“Against”
   Abstentions    Broker
Nonvotes

308,287,609

   4,964,027    3,429,129    415

Item No. 3: Advisory Vote on Frequency of Voting on Named Executive Officer Compensation

Three Years was approved with the following vote:

 

Shares Voted

For One Year

   Shares Voted For
Two Years
   Shares Voted
For Three Years
   Abstentions

120,820,658

   2,079,290    191,615,918    2,164,899


Item No. 4: Approval of the PACCAR Inc Long Term Incentive Plan

Item No. 4 was approved with the following vote:

 

Shares Voted

“For”

   Shares Voted
“Against”
   Abstentions    Broker
Nonvotes

305,247,663

   10,487,811    945,291    415

Item No. 5: Approval of the Senior Executive Yearly Incentive Compensation Plan.

Item No. 5 was approved with the following vote:

 

Shares Voted

“For”

   Shares Voted
“Against”
   Abstentions    Broker
Nonvotes

308,724,134

   6,683,441    1,273,190    415

Item No. 6: Stockholder Proposal Regarding the Supermajority Vote Provisions

Item No. 6 was not approved with the following vote:

 

Shares Voted

“For”

   Shares Voted
“Against”
   Abstentions    Broker
Nonvotes

147,631,591

   164,895,696    4,153,893    0

Item No. 7: Stockholder Proposal Regarding a Director Vote Threshold.

Item No. 7 was not approved with the following vote:

 

Shares Voted

“For”

   Shares Voted
“Against”
   Abstentions    Broker
Nonvotes

139,021,673

   174,994,540    2,664,967    0

(c) Not applicable.

(d) The Board of Directors decided that the Company’s proxy materials will include an advisory shareholder vote on the compensation of the named executive officers every three years, the next vote to occur in 2014.

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.

 

      PACCAR Inc
Date:    April 25, 2011     By:  

    /s/ D. C. Anderson

      D. C. Anderson
      Vice President and General Counsel