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Florida
(State
or other jurisdiction of incorporation)
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01-11350
(Commission
File Number)
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59-0483700
(IRS
Employer Identification No.)
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1530
Cornerstone Boulevard, Suite 100
Daytona
Beach, Florida
(Address
of principal executive offices)
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32117
(Zip
Code)
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Registrant’s
telephone number, including area code: (386)
274-2202
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Not
Applicable
(Former
name or former address, if changed since last report.)
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·
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operating
losses from self-development projects will be calculated in basic earnings
per share (“EPS”) and will reduce current EPS and potential bonuses under
the Cash Bonus Plan;
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·
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if
a participant had received a prior bonus under the Cash Bonus Plan based
on an increase in land value, that increased land value would become the
new adjusted land basis when determining any subsequent equivalent EPS for
bonuses under the Cash Bonus Plan;
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·
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although
bonuses are not normally awarded at earnings levels of less than $1.50 per
share, upon recommendation of the Compensation Committee, the Board of
Directors, in its discretion, may also award discretionary cash bonuses to
participants whose performance is determined to have been outstanding
during the plan year or otherwise merits a special one-time cash
bonus.
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·
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the
Committee reviews CEO recommendations regarding bonuses to be awarded to
other participants under the Cash Bonus Plan and makes its recommendations
to the Board for final approval. The Committee also recommends to the
Board any bonus to be awarded to the CEO under the Cash Bonus Plan;
and
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·
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the
Board may, upon the recommendation of the Committee, award discretionary
cash bonuses under the Cash Bonus Plan to participants whose performance
is determined to have been outstanding during the plan year or otherwise
merits a special one-time cash
bonus.
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(d)
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Exhibits
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