8-KMaterial AgreementsExhibits & Filings

CASEYS GENERAL STORES INC 8-K Report, Material Agreement (May 3, 2005)

Filed May 3, 2005For Securities:CASY

Summary

Casey's General Stores, Inc. (CASY) filed an 8-K on May 3, 2005, reporting on the entry into a material definitive agreement related to its Non-Employee Directors' Stock Option Plan. The filing details the award of stock options to eligible non-employee directors as of May 1, 2005, a standard practice under the plan approved by shareholders in 1995. This event signifies the regular compensation mechanism for the company's independent board members, aligning their interests with shareholders through equity participation. The exercise price for these options was calculated based on the average of the last reported sales prices of the common stock over the twelve months preceding the award date. Investors can view this as a routine disclosure concerning executive and director compensation, emphasizing a consistent approach to incentivizing board members.

Key Highlights

  • 1Reporting on the Non-Employee Directors’ Stock Option Plan.
  • 2Eligible non-employee directors received options to purchase 2,000 shares of Common Stock as of May 1, 2005.
  • 3The exercise price for these options was determined to be $17.64 per share.
  • 4The stock option award is in accordance with the plan approved by shareholders on September 15, 1995.
  • 5The exercise price calculation is based on the average of the last reported sales prices for the preceding twelve months.
  • 6This filing is a routine disclosure regarding director compensation and equity incentives.

Frequently Asked Questions

The primary purpose of this 8-K filing is to report the entry into a material definitive agreement, specifically the award of stock options to non-employee directors under the company's existing stock option plan.

The exercise price is calculated as the average of the last reported sales prices of Casey's General Stores' common stock on the last trading day of each of the twelve months preceding the award of the option.

Eligible non-employee directors of the company received the stock options. The filing specifically names Messrs. Haynie, Fitzgibbon, Taylor, Danos, Kimball, and Lamberti, and Ms. Sullivan as recipients.

No, this is a routine award under the Non-Employee Directors’ Stock Option Plan that was approved by shareholders on September 15, 1995, indicating a long-standing practice of providing equity incentives to non-employee directors.