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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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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 21, 2006
(February 16, 2006)
Build-A-Bear Workshop, Inc.
(Exact name of registrant as specified in its charter)
Delaware 001-32320 43-1883836
(State or other jurisdiction (Commission (I.R.S. Employer
of incorporation) File Number) Identification No.)
1954 Innerbelt Business Center Drive
St. Louis, Missouri 63114
(Address of principal executive offices) (Zip Code)
(312) 423-8000
(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 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)).
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Item 1.01. Entry into a Material Definitive Agreement.
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Fiscal 2005 Bonuses
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On February 16, 2006, based on a recommendation from its Compensation
Committee, the Board of Directors (the "Board") of Build-A-Bear Workshop, Inc.
(the "Company") exercised its discretion and authorized payment of cash bonus
awards for fiscal 2005 to certain of the Company's employees. The cash bonus
awards were approved by the Board in recognition of the Company's financial
performance during fiscal 2005 and for employee retention purposes. The bonus
awards are as follows:
Named Executive Officer Award
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Maxine Clark $301,251
Chairman of the Board
and Chief Executive Bear
Barry Erdos $156,058
President and
Chief Operating Officer Bear
Robert Scott Seay $53,678
Chief Workshop Bear
Teresa Kroll $37,312
Chief Marketing Bear
Tina Klocke $38,197
Chief Financial Bear,
Treasurer and Secretary
In addition to the amounts awarded to the named executive officers, other
Company headquarters employees will receive an aggregate of $506,262 in cash
bonus awards for fiscal 2005.
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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.
BUILD-A-BEAR WORKSHOP, INC.
Date: February 21, 2006 By: /s/ Tina Klocke
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Name: Tina Klocke
Title: Chief Financial Bear, Secretary
and Treasurer
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