Form 8-K

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): March 13, 2007                                                         

 

Williams-Sonoma, Inc.
(Exact name of registrant as specified in its charter)

 

California

  

001-14077

  

94-2203880

(State or other

jurisdiction of

incorporation)

  

(Commission File

Number)

  

(IRS Employer

Identification No.)

    3250 Van Ness Avenue, San Francisco, California 94109    

(Address of principal executive offices)

Registrant’s telephone number, including area code     (415) 421-7900                                     

                                                     N/A                                                     

(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 March 13, 2007, the Compensation Committee of Williams-Sonoma, Inc. (the “Company”) established performance goals under the 2001 Incentive Bonus Plan based upon achievement of certain earnings per share objectives. The maximum bonus payable may not exceed the lower of three times base salary or $3,000,000. The actual bonuses payable for fiscal year 2007 (if any) will vary depending on the extent to which actual performance meets, exceeds or falls short of the goals approved by the Compensation Committee.

 

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

At the March 14, 2007 meeting of the Board of Directors (the “Board”) of the Company, on the recommendation of the Nominations and Corporate Governance Committee, the Board approved a slate of candidates for the Company’s Board for election at the Company’s next annual meeting of shareholders, which is currently scheduled for May 16, 2007. Sanjiv Ahuja has elected not to stand for re-election upon expiration of his current term at the annual meeting.

 

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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.

 

    WILLIAMS-SONOMA, INC.
Date: March 16, 2007  

By:

   /s/ Sharon L. McCollam
       

Sharon L. McCollam

Executive Vice President,

Chief Operating and Chief Financial Officer

 

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