8-KMaterial AgreementsExhibits & Filings

DOLLAR GENERAL CORP 8-K Report, Material Agreement (Oct 28, 2004)

Filed October 28, 2004For Securities:DG

Summary

This Form 8-K filing by Dollar General Corporation (DG) on October 28, 2004, reports on material definitive agreements related to executive compensation. Specifically, on August 24, 2004, the Compensation Committee granted non-qualified stock options and Restricted Stock Units (RSUs) to key named executive officers, including Lawrence V. Jackson, Thomas J. Hartshorn, and Stonie R. O’Briant. These grants were made under the company's 1998 Stock Incentive Plan. The filing details the terms of these options and RSUs, including exercise prices, vesting schedules, and potential early vesting or termination conditions related to employment changes or corporate events. Notably, an error in the RSU award agreement for Mr. Hartshorn regarding accelerated vesting upon death, disability, or retirement was amended, while Mr. Jackson's agreement was not amended due to his prior resignation. All grants to Mr. Jackson were subsequently forfeited following his termination of employment on October 8, 2004.

Key Highlights

  • 1Dollar General Corporation granted stock options and Restricted Stock Units (RSUs) to named executive officers on August 24, 2004.
  • 2The grants were made under the company's 1998 Stock Incentive Plan.
  • 3Stock options have an exercise price of $18.83 per share and generally vest in four equal annual installments starting August 24, 2005.
  • 4RSUs generally vest and become payable in three equal annual installments beginning August 24, 2005.
  • 5Both options and RSUs may vest earlier upon a Change in Control event.
  • 6An error in the RSU award agreement for Thomas J. Hartshorn concerning accelerated vesting provisions was corrected.
  • 7All stock options and RSUs granted to Lawrence V. Jackson were forfeited following his termination of employment on October 8, 2004.

Frequently Asked Questions

The primary purpose of this 8-K filing is to disclose material definitive agreements concerning the granting of stock options and Restricted Stock Units (RSUs) to Dollar General's named executive officers.

The stock options have an exercise price of $18.83 per share. They are generally exercisable in four equal annual installments starting on August 24, 2005, and expire on August 24, 2014. Early vesting can occur upon a Change in Control, and termination provisions are detailed based on employment status.

The RSUs generally vest and become payable in three equal annual installments beginning August 24, 2005. They can also vest earlier upon a Change in Control. Holders do not have voting rights or receive dividends directly prior to settlement; however, they are credited with cash dividends which are reinvested into additional shares.

All stock options and RSUs granted to Lawrence V. Jackson were forfeited following his termination of employment with Dollar General on October 8, 2004. This event was previously reported in another 8-K filing.