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): (March 18, 2010) March 24, 2010
GLOBAL INDUSTRIES, LTD.
(Exact name of registrant as specified in its charters)
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| Louisiana
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0-21086
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72-1212563 |
| (State or Other Jurisdiction of
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(Commission File Number)
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(I.R.S. Employer |
| Incorporation or Organization)
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Identification No.) |
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| 8000 Global Drive |
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| Carlyss, Lousiana
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70665 |
| (Address of Principal Executive Offices)
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(Zip Code) |
Registrant’s Telephone Number, including Area Code: (337) 583-5000
n/a
(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:
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
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| Item 5.02 |
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Departure of Directors or Certain Officers; Election of Directors; Appointment
of Certain Officers; Compensatory Arrangements of Certain Officers |
On March 18, 2010, the Compensation Committee (the “Committee”) of the Board of Directors of Global
Industries, Ltd. (the “Company”) approved a restricted stock award of 30,000 shares of the
Company’s common stock to Mr. Russell J. Robicheaux. Forfeiture restrictions on the restricted
stock award will lapse in equal increments annually over three years. The award is in recognition
of Mr. Robicheaux’s dedication to corporate governance and compliance evidenced throughout the
handling of the Company’s internal investigation into its operations in West Africa related to the
U.S. Foreign Corrupt Practices Act (“FCPA”).
Early this year, representatives of the Securities and Exchange Commission and the Department of
Justice informed the Company that each agency had concluded its FCPA investigation. Neither agency
recommended any enforcement action or the imposition of any fines or penalties against the Company.
Pursuant to authority delegated by the Committee to Mr. John Clerico, Chairman of Board, effective
March 24, 2010, Mr. Clerico approved an award of 5,000 shares of the Company’s common stock and a
restricted stock award of 10,000 shares of common stock to Mr. James Doré. Forfeiture restrictions
on the restricted stock award will lapse one year from the grant date.
Mr. Robicheaux and Mr. Doré’s awards were issued under the Company’s 2005 Stock Incentive Plan
which has previously been approved by the Company’s shareholders.