UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
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): April 28, 2008 (April 24, 2008)
SUNOPTA INC.
| Canada | 0-9989 | Not Applicable | ||
| (State or other jurisdiction of incorporation) | (Commission File Number) | (IRS Employer Identification No.) |
2838 Bovaird Drive West
Brampton, Ontario, L7A 0H2,
Canada
(Address of Principal Executive
Offices)
(905) 455-1990
(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))
ITEM 5.02 - DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS;
ELECTION OF DIRECTORS; APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY
ARRANGEMENTS OF CERTAIN OFFICERS. On April 24, 2008, SunOpta Inc. (the "Company") announced the
appointment of Anthony Tavares, age 54, to the position of Vice President and
Chief Operating Officer of the Company, effective June 1, 2008, as more fully
described in the press release filed as Exhibit 99.1 hereto, which information
is incorporated into this Item 5.02 by reference. Prior to joining the Company,
Mr. Tavares served as Chief Executive Officer of Maple Lodge Farms Inc., a
family-owned Canadian food company with revenues of approximately $550 million
and extensive operations in fresh poultry, deli meats, pet foods and feed
milling, since 1999. Mr. Tavares’s annual base salary will be CDN $400,000, and he
will be entitled to a target bonus of 50% of his base salary, the payment of
which is based on the Company achieving certain financial goals. Mr. Tavares
will be granted 50,000 stock options by the Company’s Board of Directors subject
to the filing of the Company’s Annual Report on Form 10-K (with 20% of such
options vesting each year over a five year period), and will be entitled to
participate in the Company’s long-term incentive programs. In addition to
receiving the standard benefits available to all Company employees, he will
receive an auto allowance, professional fees related to his employment, and
annual membership fees. If in connection with a change of control of the Company
there is a material change in Mr. Tavares’s position, he will have the option of
receiving a lump sum severance payment equal to eighteen (18) months of his base
salary and annual bonus, plus the continuation of the auto allowance and
medical, dental and insurance benefits for eighteen (18) months following the
date of such material changes. If, Mr. Tavares is terminated without cause he
will receive severance benefits of eighteen (18) months of his base salary,
bonus and the continuation of the auto allowance and allowable medical and
insurance benefits during the eighteen (18) month period. ITEM 7.01 - REGULATION FD DISCLOSURE.
The information included under Item 5.02 is incorporated herein by reference.
ITEM 9.01 - FINANCIAL STATEMENTS AND EXHIBITS
(d)
Exhibits
| Exhibit No. | Description | |
| 99.1 | Press release of SunOpta dated April 24, 2008 |
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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.
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SUNOPTA INC. |
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By |
/s/ Steven R. Bromley |
By |
/s/ John Dietrich |
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Steven R. Bromley, |
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John Dietrich, |
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President and Chief Executive Officer |
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Vice President and Chief Financial Officer |
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Date |
April 28, 2008 |
Date |
April 28, 2008 |
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EXHIBIT INDEX
| Exhibit No. | Description |
| 99.1 | Press release of SunOpta dated April 24, 2008 |
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