Unassociated Document
 
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) August 1, 2007
 
ARGYLE SECURITY, INC.
 
(Exact Name of Registrant as Specified in Charter)

Delaware
  
000-51639
  
20-3101079
(State or Other Jurisdiction
of Incorporation)
  
(Commission
File Number)
  
(IRS Employer
Identification No.)
 

200 Concord Plaza, Suite 700
San Antonio, TX
 
 
78216
(Address of Principal Executive Offices)
  
(Zip Code)

Registrant’s telephone number, including area code:   (210) 828-1700
 
 
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):
 
o   Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
o   Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 
o   Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 
o   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 Principal Officers; Election of Directors; Appointment of Principal Officers; Compensatory Arrangements of Certain Officers.
 
On August 1, 2007, the Board of Directors of Argyle Security, Inc. (“Argyle”) met to establish compensation for its executive management. The Board of Directors determined to pay the following executive officers the annual salary listed opposite their respective names:

Name
Title
Annual Base
Salary ($)
Bob Marbut
Co-Chief Executive Officer
275,000
Ron Chaimovski
Co-Chief Executive Officer
275,000
 
Each of the following persons also received the following equity awards:
 
Name
Title
2007 Restricted Stock (1)
2007 Performance Units (2)
Bob Marbut
Co-Chief Executive Officer
25,000
25,000
Ron Chaimovski
Co-Chief Executive Officer
25,000
25,000
Sam Youngblood
Chief Executive Officer, ISI Security Group, Inc.
20,000
20,000
Don Carr
President, ISI Security Group, Inc.
20,000
20,000
 
(1)
One-third vests on December 31 of each of 2008, 2009 and 2010.
(2)
Vests on December 31, 2010 if certain performance goals to be determined by the Board of Directors are achieved.
 
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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.
 
     
  ARGYLE SECURITY ACQUISITION CORPORATION
 
 		  
 		  
 
Date: August 7, 2007 By:   /s/ Bob Marbut
 
 
Name: Bob Marbut
Title: Co-Chief Executive Officer

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