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 28,
2007
DENNY’S
CORPORATION
(Exact
name of registrant as specified in its charter)
|
Delaware
|
0-18051
|
13-3487402
|
|
(State
or other jurisdiction of
|
Commission
File No.
|
(I.R.S.
Employer
|
|
Incorporation
or organization
|
Identification
No.)
|
203
East Main Street
Spartanburg,
South Carolina 29319-0001
(Address
of principal executive offices)
(Zip
Code)
(864)
597-8000
(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 obligations 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
November 28, 2007, the Compensation and Incentives Committee of the Board
of
Directors of Denny's Corporation (the "Company" or “Denny’s”) approved and
adopted the Denny's Paradigm Shift Incentive Program (the "Paradigm Shift
Incentive Program"), an incentive compensation arrangement for all executive
officers of the Company (except the Company’s Chief Executive Officer) and
certain key employees.
Under
the
Paradigm Shift Incentive Program, which is offered pursuant to the Denny's
Corporation 2004 Omnibus Incentive Compensation Plan (the "Denny's 2004
Omnibus
Plan"), executive officer participants are eligible to earn cumulative
cash
awards ranging from $180,000 to $245,000, depending on level of participation,
over a three year period (from 2007 to 2009) upon the completion of certain
defined milestones which have been set for three “paradigm shift” projects
associated with the Company’s Franchise Growth Initiative and the implementation
of certain planned concept, facility and process innovations. Amounts
earned will be paid on a prorated basis twice per year during the
performance period – at the end of the 2nd Quarter
and end of
the 4th
Quarter.
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.
| Denny's Corporation | |
| Date: December 4, 2007 | /s/ F. Mark Wolfinger |
| F. Mark Wolfinger | |
| Executive Vice President, | |
| Growth Initiatives and | |
| Chief Financial Officer |