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) April 7, 2009 (April 2, 2009)
Pope Resources, A Delaware Limited Partnership
(Exact name of registrant as specified in its charter)
Delaware 91-1313292
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(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
19245 Tenth Avenue NE, Poulsbo, Washington 98370
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(Address of principal executive offices) (ZIP Code)
Registrant's telephone number, including area code (360) 697-6626
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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 (SEE General Instruction A.2. below):
[ ] 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-(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange
Act (17 CFR 240.13e-4(c))
INFORMATION TO BE INCLUDED IN THE REPORT
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Item 5.02 Compensatory Arrangements of Certain Officers
On April 2, 2009 the Board of Directors for the Partnership's managing general
partner, Pope MGP, Inc., determined to award bonuses to two named executive
officers of the Partnership for performance during the Partnership's fiscal year
2008. The following table presents certain information regarding the
compensation of such officers including the payment of such awards for the years
2006 through 2008:
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Non-equity
Incentive Plan All Other
Name and Salary Bonus Unit Awards Compensation Compensation Total
Principal Position Year ($) ($) (1) ($) (2) ($)(3) ($)(4) ($)
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David L. Nunes
President and CEO 2008 316,725 113,758 148,455 - 34,750 613,688
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2007 307,500 260,487 194,625 - 26,091 788,703
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2006 297,500 250,800 156,375 18,695 17,040 740,410
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Thomas M. Ringo
V.P. and CFO 2008 205,872 47,250 82,475 - 24,200 359,797
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2007 199,875 135,453 108,125 - 19,200 462,653
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2006 193,333 134,816 86,875 11,217 14,100 440,341
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(1) Amounts represent bonuses earned in the year indicated but paid in the
subsequent year.
(2) Amounts represent the market value on the date of grant of restricted
units received during the year. These units are subject to a trading
restriction until the units vest. Units ordinarily vest over four
years with 50% vesting after three years and the remaining 50% vesting
on the fourth anniversary of the grant date.
(3) Amounts represent cash payment awards based upon performance of the
Investor Portfolio Management Business (IPMB) during the award year
and are contingent upon the officer's employment with the Partnership
on the last day of the award year. These payments are made from Pope
MGP's share of IPMB income, earned in the year indicated and paid in
the subsequent year.
(4) Amounts represent matching contributions to the Partnership's 401(k)
plan made by the Partnership on behalf of the executive, and
distributions received by the executive on restricted Partnership
units (the value of the restricted units is described under footnote
(2) above and not repeated here.)
SIGNATURES
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Pursuant to the requirements of Section 13 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.
POPE RESOURCES, A DELAWARE LIMITED PARTNERSHIP
DATE: April 7, 2009 BY: /s/ Thomas M. Ringo
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Thomas M. Ringo
Vice President and Chief Financial Officer, Pope
Resources, A Delaware Limited Partnership, and
Pope MGP, Inc., General Partner