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):
September
7, 2007
__________________________________________________________________
CELADON
GROUP, INC.
(Exact
name of registrant as specified in its charter)
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Delaware
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000-23192
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13-3361050
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(State
or other jurisdiction
of
incorporation)
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(Commission
File
Number)
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(IRS
Employer
Identification
No.)
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9503
East 33 rd
Street
One
Celadon Drive, Indianapolis, IN
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46235
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(Address
of principal executive offices)
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(Zip
Code)
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(317)
972-7000
(Registrant's
telephone number, including area code)
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:
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[
]
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Written
communications pursuant to Rule 425 under the Securities Act (17
CFR
230.425)
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[
]
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
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[
]
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17
CFR
240.14d-2(b))
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[
]
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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
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Departure
of Directors or Certain Officers; Election of Directors; Appointment
of
Certain Officers; Compensatory Arrangements of Certain
Officers.
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On
September 7, 2007, the Compensation and Nominating Committee of the Board of
Directors (the "Committee") of Celadon Group, Inc., a Delaware corporation
(the
"Company"), granted a discretionary cash bonus to each of Ken Core and Sergio
Hernandez in the amount of $15,000 and $15,033, respectively, for fiscal
2007. The discretionary bonus awarded to Messrs. Core and Hernandez
was based on, among other things, the Company’s safety, driver development, and
profitability. For the foregoing reasons, discretionary bonuses were
granted by the Committee despite not achieving performance targets previously
established under the Company’s Cash Bonus Program. A portion of the
discretionary bonus granted to Mr. Hernandez was based on performance of
the Company’s Mexican subsidiaries.
The
Company previously reported the
grant of discretionary bonuses for fiscal 2007 to each of Stephen Russell and
Paul Will on the Current Report on Form 8-K filed with the SEC on August 14,
2007.
SIGNATURE
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CELADON
GROUP, INC.
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Date:
September 13, 2007
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By:
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/s/
Stephen Russell
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Stephen
Russell
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Chairman
and Chief Executive Officer
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