DeVry Form 8-K dated Feb 6, 2007
UNITED
STATES
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) February
6, 2007
DeVry
Inc.
(Exact
name of registrant as specified in its charter)
|
Delaware
|
1-13988
|
36-3150143
|
|
(State
or other jurisdiction
|
(Commission
|
(IRS
Employer
|
|
of
incorporation)
|
File
Number)
|
Identification
No.)
|
| |
|
|
ONE
TOWER LANE, SUITE 1000,
|
60181
|
|
OAKBROOK
TERRACE, ILLINOIS
|
(Zip
Code)
|
|
(Address
of principal executive offices)
|
|
Registrant’s
telephone number; including area code:
(630) 571-7700
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 (see General Instruction A.2 below):
[
]
Written communications pursuant to Rule 425 under Securities Act (17 CFR
230.425)
[
]
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))
Item
5.02 - Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain
Officers
(e)
As
contemplated by the employment agreement previously disclosed on Form 8-K filed
on November 21, 2006, 50,000 non-qualified stock options were awarded to Daniel
Hamburger, President and Chief Executive Officer of the Company, on February
6,
2007, under the Company’s 2003 Stock Incentive Plan. The stock options are
exercisable at $28.80 per share, the closing price of the Company’s Common Stock
on the New York Stock Exchange on February 6, 2007, terminate after ten years
from the date of the grant and generally vest in annual increments of 20% on
November 15th
of each
year, starting in November 2007. Any unvested stock options will accelerate
upon
a change in control of the Company.
Additionally,
1,500 non-qualified stock options were awarded to Dennis Keller,
Board
Chair of the Company, on February 6, 2007, under the Company’s 2003 Stock
Incentive Plan. The
stock
options are exercisable at $28.80 per share, the closing price of the Company’s
Common Stock on the New York Stock Exchange on February 6, 2007, terminate
after
ten years from the date of the grant and generally vest in annual increments
of
20% on November 15th
of each
year, starting in November 2007. Any unvested stock options will accelerate
upon
a change in control of the Company.
1,000
incentive stock options were awarded to Harvey Leffring,
Vice
President and Chief Information Officer of the Company, on February 6, 2007,
under the Company’s 2003 Stock Incentive Plan. The
stock
options are exercisable at $28.80 per share, the closing price of the Company’s
Common Stock on the New York Stock Exchange on February 6, 2007, terminate
after
ten years from the date of the grant and generally vest in annual increments
of
20% on October 3rd
of each
year, starting in October 2007. Any unvested stock options will accelerate
upon
a change in control of the Company.
Attached
as Exhibit 99.1 is the Form of Stock Option Agreement for Non Qualified Stock
Options. Attached as Exhibit 99.2 is a Form of Stock Option Agreement for
Incentive Stock Options.
Item
9.01 - Financial Statements and Exhibits
(d)
-
Exhibits
| 99.1 |
Form
of Stock Option Agreement for Non Qualified Stock
Options
|
| 99.2 |
Form
of Stock Option Agreement for Incentive Stock
Options
|
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.
DEVRY
INC.
(Registrant)
Date:
February 7, 2007 /s/
Richard M. Gunst
Richard
M. Gunst
Senior
Vice President,
Chief
Financial Office
And
Treasurer