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): April 21, 2008
CB RICHARD ELLIS GROUP, INC.
(Exact name of registrant as specified in its charter)
| Delaware | 001-32205 | 94-3391143 | ||
| (State or other jurisdiction of incorporation) |
(Commission File Number) | (IRS Employer Identification No.) |
| 11150 Santa Monica Boulevard, Suite 1600, Los Angeles, California | 90025 | |
| (Address of Principal Executive Offices) | (Zip Code) |
(310) 405-8900
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(b)) |
| ¨ | 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)) |
This Current Report on Form 8-K is filed by CB Richard Ellis Group, Inc., a Delaware corporation (the “Company”), in connection with the matters described herein.
| Item 5.02 | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
(e) On April 21, 2008, the Compensation Committee of the Board of Directors approved an amendment to the Company’s 2008 Executive Bonus Plan, or EBP. Under the amendment, the 2008 financial-based measure for determining the annual performance award of the group president position covered by the EBP will be based 50% on a global EBITDA target and 50% on the combined EBITDA targets for the business unit components comprising the group. EBITDA means earnings before interest, taxes, depreciation and amortization. The executive this amendment will impact in 2008 is Robert E. Sulentic, Group President—EMEA, Asia Pacific and Development Services. Previously, 100% of the financial-based measure for this officer’s annual performance award was based on his regional and Development Services EBITDA targets. These financial measures and targets will be discussed more fully in the proxy statement to be sent to stockholders in connection with the Company’s 2008 Annual Stockholders Meeting.
Signature
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 thereunto duly authorized.
| Date: April 25, 2008 | CB RICHARD ELLIS GROUP, INC. | |||||||
| By: | /s/ KENNETH J. KAY | |||||||
| Kenneth J. Kay | ||||||||
| Chief Financial Officer | ||||||||