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): February 24, 2009
SCOTT'S LIQUID GOLD-INC.
(Exact name of Registrant as specified in its charter)
Colorado 001-13458 84-0920811
(State or other (Commission (I.R.S. Employer
jurisdiction of File Number) Identification No.)
incorporation)
4880 Havana Street, Denver, CO 80239
(Address of principal executive offices) (Zip Code)
Registrant's telephone number: (303) 373-4860
Check the appropriate box below if the Form 8-K 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 5.02 Departure of Directors or Certain Officers; Election of
Directors; Appointment of Certain Officers; Compensatory Arrangements
of Certain Officers
On February 24, 2009, Brian L. Boberick was elected Treasurer, Chief
Financial Office and Assistant Corporate Secretary of Scott's Liquid
Gold-Inc. The Company announced this appointment in a press release
dated February 25, 2009, a copy of which is an Exhibit to this Report
and which is incorporated herein by this reference.
Mr. Boberick's compensation, as determined by the Board of Directors of
the Company, consists of an annual salary of $135,000, an auto allowance
of $6,000 annually, life and disability insurance with annual premiums
currently at approximately $2,800 (which will likely increase later this
year), income taxes on the life insurance, and a medical plan for
executive officers providing for additional medical coverage of not more
than $50,000 per year. At the time of his appointment, the Board of
Directors also granted to Mr. Boberick a five-year stock option, which
is being issued under the Company's 2005 Stock Incentive Plan as
amended, is effective on February 26, 2009, has an exercise price of
$0.17 (the closing market price on the grant date) and vests 1/48
every month after the date of grant.
In connection with his becoming an executive officer, the Company
entered into an Indemnification Agreement with Mr. Boberick. This
Agreement, which is in substantially the same form as indemnification
agreements with directors and other executive officers of the Company,
provides for indemnification and advancement of expenses to the full
extent permitted by law in connection with any proceeding in which the
person is made a party because the person is an executive officer of
the Company. The Indemnification Agreement also states certain
procedures, presumptions and terms relevant to indemnification and
advancement of expenses.
Item 9.01 Financial Statements and Exhibits
Exhibit No. Document
10.1 Indemnification Agreement, dated February 24, 2009, between the
Company and Brian L. Boberick.
99.1 Press Release, dated February 25, 2009 regarding the election
of Brian Boberick as Treasurer and Chief Financial Officer.
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.
SCOTT'S LIQUID GOLD-INC.
(Registrant)
Date: February 27, 2009 /s/ Brian L. Boberick
----------------------------
By: Brian L. Boberick
Chief Financial Officer and
Treasurer