Form 8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 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)

    August 9, 2006

Handleman Company

               

(Exact Name of Registrant as Specified in Its Charter

               

Michigan

               

(State or Other Jurisdiction of Incorporation)

               

1-7923

   

38-1242806

    
         

(Commission File Number)

   

(IRS Employer Identification No.)

500 Kirts Boulevard, Troy, Michigan

        



48084-4142
    
       

(Address of Principal Executive Offices)

        



(Zip Code)

(248) 362-4400

               

(Registrant’s Telephone Number, Including Area Code)

               

Not applicable

               

(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:

 

¨ 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 1.01. Entry into a Material Definitive Agreement

 

On August 9, 2006, Handleman Company’s Board of Directors appointed Thomas C. Braum, Jr. as Executive Vice President and Chief Financial Officer. Prior to that appointment, Mr. Braum served as Senior Vice President and Chief Financial Officer. Also on August 9, 2006, Mr. Braum was awarded a salary increase of 13.3%, which is comprised of a 3.8% annual increase and a 9.5% increase as a result of his promotion.

 

Forward-Looking Statements:

This Form 8-K may contain forward-looking statements, which are not historical facts. These statements involve risks and uncertainties and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. This Form 8-K should be read in conjunction with the “Forward-Looking Statements” section in Handleman Company’s 2004 Form 10-K (which sections are incorporated by reference herein) and in conjunction with other SEC reports filed by Handleman that disclose other factors that cause Handleman’s actual results to differ materially. Handleman expressly disclaims any current intention to update any forward-looking statements contained in this report as a result of new information or future events or developments.

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities and Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

Date: August 15, 2006

      

HANDLEMAN COMPANY

       

By:

   /s/ Stephen Strome
           

Name:

Title:

  

Stephen Strome

Chairman of the Board and

Chief Executive Officer