UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
DC 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): September 26, 2007
PILGRIM'S
PRIDE CORPORATION
(Exact
Name of Registrant as Specified in its Charter)
Delaware 1-9273
0; 75-1285071
(State
or
Other Jurisdiction (Commission (IRS
Employer
of
Incorporation) File
Number) Identification
No.)
4845
US Highway 271 North
Pittsburg, Texas 75686-0093
(Address
of Principal Executive Offices) (ZIP
Code)
Registrant's
telephone number, including area code: (903)
434-1000
Not
Applicable
(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:
q Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
q Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
|
q
|
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17
CFR
240.14d-2(b))
|
q 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 Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain
Officers.
(e) On
September 26, 2007, the Compensation Committee and the Board of Directors of
Pilgrim's Pride Corporation
(the
"Company") completed the annual compensation review with respect to the
executive officers of the Company. As part of the review process the
Compensation Committee and the Board of Directors of the Company approved
increasing the base salary of several executives effective September 30, 2007.
As a result of this action, Lonnie “Bo” Pilgrim will receive a base salary of
$1,500,000; O.B. Goolsby, Jr. a base salary of $1,000,000; Richard A. Cogdill
and J. Clinton Rivers a base salary of $800,000; and Lonnie Ken Pilgrim and
Robert A. Wright a base salary of $500,000.
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.
PILGRIM'S
PRIDE
CORPORATION
Date:
October 1, 2007 By:
/s/
Richard A. Cogdill
Richard
A.
Cogdill
Executive
Vice
President, Chief Financial Officer,
Secretary
and
Treasurer