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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
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CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of Earliest Event Reported): November 7, 2006
AARON RENTS, INC.
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(Exact name of Registrant as Specified in its Charter)
Georgia 1-13941 58-0687630
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(State or other Jurisdiction of (Commission File (IRS Employer
Incorporation or Organization) Number) Identification No.)
309 E. Paces Ferry Road, N.E.
Atlanta, Georgia 30305-2377
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(Address of principal executive offices) (Zip code)
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Registrant's telephone number, including area code: (404) 231-0011
Not Applicable
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(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-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
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ITEM 5.02. DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS;
APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS OF
CERTAIN OFFICERS.
On November 7, 2006, Aaron Rents, Inc. (the "Company") held a Board
meeting at which they approved and adopted an amendment of its 2001 Stock Option
and Incentive Award Plan Restricted Stock Award Agreement (the "Restricted Stock
Award Agreement"). Under the Restricted Stock Award Agreement, grantees are
awarded restricted stock based upon their respective ability to satisfy stated
performance goals. The Restricted Stock Award Agreement, as amended, provides
for the forfeiture of stock awards with respect to performance goals that are
not met, provides for a deferral of any dividends until the restrictions on the
restricted stock awards lapse and adds certain restrictive covenants. The
amended Restricted Stock Award Agreement also sets forth the mechanics of the
performance goals for each of the Company divisions.
Grantees included R. Charles Loudermilk, Sr., Robert C. Loudermilk,
Jr., Gilbert L. Danielson, and William K. Butler, Jr., who were each awarded
10,000 shares of restricted stock. Additionally K. Todd Evans was awarded 2,000
shares of restricted stock.
ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS
(d) Exhibits: None.
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.
AARON RENTS, INC.
By: /s/ Gilbert L. Danielson
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Gilbert L. Danielson
Executive Vice President,
Chief Financial Officer
Date: November 17, 2006