Pilgrim's Pride Corporation Executive Officer Compensation
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
DC 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): September 27, 2006
PILGRIM'S
PRIDE CORPORATION
(Exact
Name of Registrant as Specified in its Charter)
Delaware
1-9273 75-1285071
(State
or
Other Jurisdiction of Incorporation) (Commission File
Number) (IRS
Employer Identification
No.)
4845
US Highway 271
North
Pittsburg,
Texas 75686-0093
(Address
of Principal
Executive Offices) (ZIP
Code)
Registrant's
telephone number, including area code: (903)
434-1000
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:
q Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
q Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
|
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17
CFR
240.14d-2(b))
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q Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
Item
1.01. Entry into a Material Definitive Agreement.
On
September 27, 2006, the Compensation Committee and the Board of Directors of
Pilgrim's Pride Corporation
approved
no changes in the base pay of its executive officers other than a 3% cost of
living increase effective October 1, 2006. As a result of this action, Lonnie
“Bo” Pilgrim will receive a base salary of $1,416,692.65, O.B. Goolsby, Jr. a
base salary of $875,500.00, Clifford E. Butler a base salary of $434,969.26,
Richard A. Cogdill and J. Clinton Rivers a base salary of $669,500.00 each
and
Robert A. Wright a base salary of $424,360.12
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.
PILGRIM'S
PRIDE CORPORATION
Date:
October 3, 2006
By:
/s/
Richard A. Cogdill
Richard A. Cogdill
Executive Vice President, Chief Financial Officer,
Secretary and Treasurer