Summary
Ford Motor Company (F) filed an 8-K report on December 1, 2006, primarily detailing amendments to its Deferred Compensation Plan. These amendments allow active employees participating in the plan to alter the timing and method of their distributions, provided elections are made by December 31, 2006, and comply with Section 409A of the Internal Revenue Code. Importantly, all new deferrals under the plan will be subject to Section 409A of the Code starting December 1, 2006. The report also incorporates by reference a news release dated December 1, 2006, concerning U.S. retail sales of Ford vehicles for November 2006. While specific sales figures are not detailed within this 8-K, the inclusion of this release suggests it contains information investors would find relevant for assessing the company's recent performance in its core automotive business.
Key Highlights
- 1Amendments approved for Ford's Deferred Compensation Plan on December 1, 2006.
- 2Participating active employees can elect to change distribution timing/method for existing deferrals.
- 3Elections to change distributions must be made by December 31, 2006.
- 4All new deferrals under the plan will be subject to Section 409A of the Internal Revenue Code from December 1, 2006.
- 5The 8-K references a news release detailing November 2006 U.S. retail sales for Ford vehicles.
- 6The news release concerning sales is incorporated by reference into the 8-K filing.