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): May 16, 2005
MAUI LAND & PINEAPPLE COMPANY, INC.
(Exact name of registrant as specified in its charter)
HAWAII 1-6510 99-0107542
(State or other jurisdiction of (Commission (I.R.S. Employer
incorporation or organization) File Number) Identification No.)
120 Kane Street, P. O. Box 187, Kahului, Maui, Hawaii 96733-6687
(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code: (808) 877-3351
NONE
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:
[ ] 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))
ITEM 5.02 APPOINTMENT OF PRINCIPAL OFFICERS
On May 16, 2005, Maui Land & Pineapple Company, Inc. ("ML&P")
announced the appointment of Thomas H. Juliano (55) as President
& CEO of Kapalua Land Company, Ltd., ML&P's operating subsidiary
for its Resort segment. The appointment is effective as of July
1, 2005. In connection with the appointment of Mr. Juliano, ML&P
issued a press release on May 16, 2005, a copy of which is filed
as Exhibit 99.1 to this Current Report on Form 8-K.
From December 2001 to the present, Mr. Juliano has been Vice
President of Lodging at Vail Resorts, Inc., in Colorado. From
May 2000 to December 2001 he was Vice President of Mace Pacific
Holdings LLC responsible for certain real estate acquisitions.
There is no family relationship between Mr. Juliano and any
director, executive officer, or person nominated or chosen by
ML&P to become a director or executive officer of ML&P.
Material terms of the employment offer letter accepted by Mr.
Juliano include an annual salary of $250,000; a possible cash
bonus subject to certain terms and conditions at the discretion
of the Compensation Committee of ML&P with a maximum potential
value of $100,000; an option to purchase 50,000 shares of ML&P
common stock at the closing price on July 1, 2005, which will
vest ratably over five years from the date of grant;
approximately $49,000 relocation allowance; and the ability to
lease a residential property from ML&P at fair market value with
an option to purchase the property at its fair market value. If
Mr. Juliano is terminated under certain circumstances before
December 31, 2006, he will be eligible for severance benefits
equal to one year's salary. In addition, Mr. Juliano will be
eligible to participate in all ML&P benefit programs and will
receive a monthly car allowance.
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS
(c) Exhibits
99.1 Maui Land & Pineapple Company, Inc. press release,
dated May 16, 2005
SIGNATURE
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 thereunto duly authorized.
MAUI LAND & PINEAPPLE COMPANY, INC.
May 16, 2005 /S/ FRED W. RICKERT
Date Fred W. Rickert
Vice President/Chief Financial Officer
(Principal Financial Officer)