Family Dollar 2006 Annual Report Download - page 62

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(7) Ms. Janet G. Kelley was employed by the Company as Senior Vice President−Senior Counsel in January 2004 and promoted to
Senior Vice President−General Counsel in May 2005. Prior to her employment by the Company, she was employed by Kmart
Corporation, a chain of discount stores, from April 2001 to January 2003, where her last position was Executive Vice President
and General Counsel. Kmart Corporation filed a petition for reorganization under Chapter 11 of the federal bankruptcy laws in
January 2002 and emerged from bankruptcy in May 2003. From June 1999 to April 2001, she was employed by Limited Brands,
Inc., a chain of specialty apparel and personal beauty stores, as Vice President and Senior Counsel.
(8) Mr. C. Martin Sowers was employed by the Company as an accountant in October 1984 and was promoted to Assistant
Controller in January 1985. He was elected Controller in January 1986, Vice President−Controller in July 1989 and Senior Vice
President−Finance in December 1991.
(9) Mr. Barry Sullivan was employed by the Company as Vice President−Store Operations in September 2002 and was promoted to
Senior Vice President−Store Operations in May 2005. Prior to his employment with the Company, he was employed by Eckerd
Corporation, a regional drug store chain, from 1986 to 2002, where his last position was Vice President−Store Operations.
All executive officers of the Company are elected annually by and serve at the pleasure of the Board of Directors until their
successors are duly elected.
Section 16(a) Beneficial Ownership Reporting Compliance
Section 16(a) of the Securities Exchange Act of 1934 requires the Company’s directors and executive officers and persons
who own more than ten percent of the Company’s common stock (collectively, “Reporting Persons”) to file with the SEC and the
NYSE initial reports of ownership and reports of changes in ownership of the Company’s common stock and to furnish the Company
with copies of such reports. To the Company’s knowledge, which is based solely on a review of the copies of such reports furnished
to the Company and written representations from Reporting Persons that no other reports were required, all Reporting Persons
complied with all applicable filing requirements during fiscal 2006, except that as a result of an administrative oversight, Dorlisa K.
Flur, Robert A. George, Charles S. Gibson Jr., Janet G. Kelley, R. James Kelly, Howard R. Levine, C. Martin Sowers and Barry
Sullivan each were approximately two weeks late in filing their Form 4 reports with respect to the acquisition of employee stock
options granted on September 28, 2005. Additionally, Mr. Levine filed a Form 5 on October 10, 2006, reporting the gift of 50,000
shares on December 27, 2004.
Code of Ethics
The Company has adopted: (i) a Code of Ethics that applies to the Chief Executive Officer and senior financial officers,
including the Chief Financial Officer, the principal accounting officer and the controller; (ii) a Code of Business Conduct that governs
the actions of all Company employees, including officers; and (iii) a Board of Directors Code of Business Conduct applicable to all
directors (collectively the “Codes of Conduct”). The Codes of Conduct are posted within the Investors section of the Company’s
Internet website at www.familydollar.com. The Company will provide a copy of the Codes of Conduct to any stockholder upon
request. Any amendments to and/or any waiver from a provision of any of the Codes of Conduct granted to any director, executive
officer or any senior financial officer, must be approved by the Board of Directors and will be disclosed on the Company’s Internet
website within three business days following the amendment or waiver. The information contained on or connected to the Company’s
Internet website is not incorporated by reference into this Form 10−K and should not be considered part of this or any other report that
the Company files with or furnishes to the SEC.
Audit Committee
The Company has a standing Audit Committee. The Board of Directors has determined that all members of the Audit
Committee are independent and are financially literate as required by the NYSE listing standards, and that the Chairman of the Audit
Committee, Mr. Glenn A. Eisenberg, is an “audit committee financial expert,” as defined by the SEC guidelines, and has accounting
or related financial management expertise, as required by the NYSE’s listing requirements.
51
Source: FAMILY DOLLAR STORES, 10−K, March 28, 2007