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) November 29,
2007
Hibbett
Sports, Inc.
(Exact
Name Of Registrant As Specified In Its Charter)
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Delaware
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000-20969
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20-8159608
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(State
of Incorporation)
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(Commission
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(IRS
Employer
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File
Number)
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Identification
No.)
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451
Industrial Lane
Birmingham,
Alabama 35211
(Address
of principal executive offices)
(205)
942-4292
(Registrant’s
telephone number, including area code)
Not
Applicable
(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:
□ 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
1.01. Entry Into a Material Definitive
Agreement.
Hibbett
Sports, Inc. Supplemental 401(k) Plan
On
November 29, 2007, the Board of
Directors (the “Board”) of Hibbett Sports, Inc. (the “Company”) adopted the
Hibbett Sports, Inc. Supplemental 401(k) Plan (the “Plan”) effective January 1,
2008. The primary purpose of the Plan is to supplement the employer
matching contribution and salary deferral opportunity available to highly
compensated employees of the Company who are selected to participate in the
Plan. Highly compensated employees’ ability to receive Company
matching contributions and defer salary under the Company’s existing 401(k) Plan
(the “Existing Plan”) has been limited because of certain restrictions
applicable to qualified plans. The non-qualified deferred
compensation Plan will supplement the Existing Plan and allow participants
to
defer up to 40% of their compensation and receive an employer matching
contribution equal to $0.75 for each dollar of compensation deferred, subject
to
a maximum of 4.5% of compensation.
The
Plan is attached hereto as Exhibit
10.1 and is incorporated by reference into this Item 1.01.
Stock
Repurchase
On
November 29, 2007, the Board
extended and increased its authorization under the Company’s stock repurchase
program by $100.0 million to $250.0 million through January 30,
2010. As of November 29, 2007, the Company had repurchased 5.6
million shares of its common stock at a cost of $129.7 million with $120.3
million remaining for future purchases.
Item
5.03. Amendment to Articles of Incorporation or Bylaws; Change in
Fiscal Year.
(a) On
November 29, 2007, the Board authorized an amendment to the Company’s Bylaws to
authorize that any of the Company’s stock may be issued in uncertificated
form. The Bylaws of the Company as amended are attached hereto as
Exhibit 3.1 and are incorporated by reference into this Item 5.03.
Item
9.01. Financial Statements and Exhibits.
(d)
Exhibits.
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Exhibit
No.
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Description
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3.1
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Bylaws
of Hibbett Sports, Inc.
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10.1
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Hibbett
Sports, Inc. Supplemental 401(k) Plan
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SIGNATURE
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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HIBBETT
SPORTS, INC.
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By:
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/s/
Gary A. Smith
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Gary
A. Smith
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Vice
President and Chief Financial
Officer
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November
30, 2007
EXHIBIT
INDEX
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Exhibit
No.
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Description
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3.1
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Bylaws
of Hibbett Sports, Inc.
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10.1
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Hibbett
Sports, Inc. Supplemental 401(k) Plan
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