Lumber Liquidators 2007 Annual Report Download - page 72

Download and view the complete annual report

Please find page 72 of the 2007 Lumber Liquidators annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 80

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80

PART III
Item 10. Directors, Executive Officers and Corporate Governance.
The information required by this Item is incorporated by reference to the sections captioned “Proposal
One—Election of Directors,” “Executive Officers” and “Section 16(a) Beneficial Ownership Reporting
Compliance” in the proxy statement for our annual meeting of stockholders to be held on May 15, 2008.
During 2007, due to an administrative oversight, Macon F. Brock Jr., one of our directors, and Robert M.
Morrison, one of our Section 16 officers, were each a day late in filing Form 4s to reflect a stock purchase.
Code of Ethics
We have a Code of Conduct, which applies to all employees, officers and directors of Lumber Liquidators,
Inc. Our Code of Conduct meets the requirements of a “code of ethics” as defined by Item 406 of Regulation
S-K, and applies to our Chief Executive Officer, Chief Financial Officer (who is both our principal financial and
principal accounting officer), as well as all other employees. Our Code of Conduct also meets the requirements
of a code of conduct under Marketplace Rule 4350(n) of the National Association of Securities Dealers, Inc. Our
Code of Conduct is posted on our website at http://www.lumberliquidators.com in the “Corporate Governance”
section of our Investor Relations home page.
Item 11. Executive Compensation.
The information required by this Item with respect to executive compensation is incorporated by reference
to the section captioned “Executive Compensation” in the proxy statement for our annual meeting of
stockholders to be held on May 15, 2008.
Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder
Matters.
The information required by this Item is incorporated by reference to the section captioned “Security
Ownership” and “Executive Compensation—Equity Compensation Plan Information” in the proxy statement for
our annual meeting of stockholders to be held on May 15, 2008.
Number of
Securities to be
Issued Upon
Exercise of
Outstanding
Options and Rights
Weighted-average
Exercise Price of
Outstanding
Options
and Rights
Number of Securities
Remaining Available for
Future Issuance Under
Equity Compensation
Plans
Equity Compensation Plans Approved by Security
Holders .................................. 2,048,147 $7.63 2,251,853
Equity Compensation Plans Not Approved by
Security Holders ........................... —— —
Total ...................................... 2,048,147 $7.63 2,251,853
Item 13. Certain Relationships, Related Transactions and Director Independence.
Related Party Transactions
Tom Sullivan, the chairman of our board of directors, is the sole owner of ANO LLC, DORA Real Estate
Company, LLC and Wood on Wood Road, Inc., and he has a 50% membership interest in BMT Holdings, LLC
(collectively, “ANO and Related Companies”). We leased our Toano facility, which includes a store location,
66