Form 8-K  (W0558678.DOC;1)



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):  December 13, 2012

 

 

WAUSAU PAPER CORP.

(Exact name of registrant as specified in its charter)

 

 

WISCONSIN

0-13923

39-0690900

(State or other

(Commission File

(IRS Employer

jurisdiction of

Number)

Identification

incorporation)

 

Number)

 

100 PAPER PLACE

MOSINEE, WI  54455-9099

(Address of principal executive offices, including Zip Code)

 

(715) 693-4470

Registrant’s telephone number, including area code

 

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 23.425)

 

£

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))

 





INFORMATION TO BE INCLUDED IN THE REPORT



Section 5 – Corporate Governance and Management


Item 5.02.

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


2013 Equity Incentive Compensation Plan


On January 2, 2013, the Compensation Committee of the Company’s Board of Directors (the “Compensation Committee”) approved the 2013 Equity Incentive Compensation Plan for officer-level employees and awarded performance units under the plan.  A summary of the plan is set forth as Exhibit 10.1.


Long-Term (2015) Equity Incentive Compensation Plan


On January 2, 2013, the Compensation Committee also approved the Long-Term (2015) Equity Incentive Compensation Plan, which grants certain equity-based incentives to officer-level employees.  Awards under the Long-Term (2015) Equity Incentive Compensation Plan will vest if certain target levels of “total shareholder return” are met over a three-year period ending December 31, 2015.  A summary of the plan is set forth as Exhibit 10.2.


Cash Incentive Compensation


On January 2, 2013, the Compensation Committee approved the 2013 Cash Incentive Compensation Plan for Executive Officers and established performance criteria under the plan.  Under the plan, incentive compensation will be based upon achievement of individual performance objectives and attainment of targeted goals for adjusted earnings per share, as derived from targeted return on capital employed between 5% and 14%.  A summary of the plan is set forth as Exhibit 10.3.


Section 8 – Other Events


Item 8.01.

Other Events


Executive Compensation


Base Salaries


Effective December 13, 2012, annual salary levels for the Company’s Chief Executive Officer, Chief Financial Officer, and other executive officers with segment operating responsibility, which were approved by the Compensation Committee, are as follows:



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Henry C. Newell,

$650,000

President

 

Chief Executive Officer

 

 

 

Sherri L. Lemmer,

$300,000

Senior Vice President

 

Chief Financial Officer

 

 

 

Patrick J. Medvecz,

$309,000

Senior Vice President, Operations

 

 

 

Michael W. Nelson,

$332,000

Senior Vice President, Paper

 

 

 

Matthew L. Urmanski,

$300,000

Senior Vice President, Tissue

 



Section 9 – Financial Statements and Exhibits


Item 9.01

Financial Statements and Exhibits


10.1

2013 Equity Incentive Compensation Plan

10.2

Long-Term (2015) Equity Incentive Compensation Plan

10.3

2013 Cash Incentive Compensation Plan for Executive Officers


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.


WAUSAU PAPER CORP.



Date:  January 7, 2013

By:  SHERRI L. LEMMER

Sherri L. Lemmer

Senior Vice President

Chief Financial Officer



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EXHIBIT INDEX

to

FORM 8-K

of

WAUSAU PAPER CORP.

dated December 13, 2012

Pursuant to Section 102(d) of Regulation S-T

(17 C.F.R. §232.102(d))




Exhibits required by Item 601 of Regulation S-K:


10.1

2013 Equity Incentive Compensation Plan

10.2

Long-Term (2015) Equity Incentive Compensation Plan

10.3

2013 Cash Incentive Compensation Plan for Executive Officers






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