form8k-10b5.htm
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): August 15, 2008
AUDIOVOX
CORPORATION
(Exact
name of registrant as specified in its charter)
|
Delaware
|
|
0-28839
|
|
(State
or other jurisdiction of incorporation)
|
|
(Commission
File Number
|
|
13-1964841
|
|
(I.R.S.
Employer Identification No.)
|
|
180 Marcus Blvd., Hauppauge, New
York
|
|
11788
|
|
(Address
of principal executive officers)
|
|
(Zip
Code)
|
Registrant's
telephone number, including area code (631) 231-7750
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 file 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(e))
Item
8.01 Other
Events.
On August 15, 2008, Paul C. Kreuch,
Director, entered into a written selling program in accordance with the
guidelines specified by the SEC’s Rule 10b-5, under the Securities and Exchange
Act of 1934 (the “10b-5 Plan”). Pursuant to the 10b-5 plan, Mr.
Kreuch intends to exercise 15,000 Audiovox options. The 10b-5 Plan contemplates
the exercise and sale of 10,000 of the options, which expire on September 9,
2009, commencing on November 15, 2008 at an initial strike price of $18.00 per
share. The strike price decreases in increments until August 26, 2009 when the
strike price is $15.08 per share. The remaining 5,000 options, of which 1,666
expire on August 31, 2010, 1,667 expire on November 30, 2010 and the balance of
1,667 expire on February 28, 2001, are to be exercised and sold commencing on
November 15, 2008 at an initial strike price of $21.00 per share. The
strike price decreases in increments until the last month the option is
exercisable when the strike price is $11.15 per share. The 10b-5 Plan
was entered into in order to facilitate the orderly sale of common stock for
diversification and tax planning purposes prior to expiration.
The information furnished under this
Item 8.01 shall not be deemed to be filed for the purposes of Section 18 of the
Securities Exchange Act of 1934, as amended, and will not be incorporated by
reference in any registration statement filed under the Securities Act of 1933,
as amended, unless specifically identified therein as being incorporated therein
by reference.
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 thereunto duly
authorized.
AUDIOVOX CORPORATON
(Registrant)
Date:
August 19,
2008 ___________________________________
Charles M. Stoehr
Senior Vice President and
Chief Financial Officer