SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the
Securities
and Exchange Act of 1934
Date of
Report (Date of earliest event reported): November 11, 2010
Peet's Coffee &
Tea, Inc.
(Exact
Name of Registrant as Specified in Its Charter)
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Washington
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0-32233
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91-0863396
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(State
of jurisdiction)
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(Commission
File No.)
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(IRS
Employer Identification No.)
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1400 Park
Avenue
Emeryville,
California 94608-3520
(Address
of principal executive offices and zip code)
Registrant's
telephone number, including area code: (510) 594-2100
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:
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))
SECTION
2 - Financial Information
On November 11, 2010, Patrick J. O’Dea,
President and Chief Executive Officer of Peet's Coffee & Tea Inc.
(“Peet’s”), adopted a pre-arranged stock trading plan to exercise Peet’s stock
options and sell shares of Peet’s stock. Mr. O’Dea holds outstanding shares and
vested and unvested options representing a total of approximately 942,000
shares. Of this amount, options covering 567,558 shares granted in 2002 are
fully vested and expire in May 2012 and options covering 50,000 shares granted
in 2003 are fully vested and expire in February 2013. Mr. O’Dea has advised
Peet’s that it is his intention through this pre-arranged stock trading plan to
facilitate an orderly sale of the shares issuable under these options in advance
of their expiration.
Under the newly adopted plan,
Mr.
O’Dea may sell up to 597,513 shares
between November 12, 2010 and May 12, 2011. In addition, Mr. O’Dea plans to
exercise and hold the remaining 20,045 shares, which are issuable under an
Incentive Stock Option (ISO) included in the 2002 grants. Shares will be sold
under the Plan on the open market at prevailing market prices or in block
trades, subject to volume and minimum price parameters set forth in the Plan.
Assuming the plan is fully executed and Mr. O’Dea exercises and holds his ISO’s,
Mr. O’Dea will still hold vested and unvested options covering approximately
276,000 shares and own approximately 68,000 shares.
The transactions under the plan will be
disclosed publicly through Form 144 and Form 4 filings with the Securities and
Exchange Commission. The plan was adopted in accordance with Rule 10b5-1 under
the Securities Exchange Act of 1934 and Peet’s policies regarding stock
transactions. Rule 10b5-1 permits individuals who are not in possession of
material, non-public information at the time the plan is adopted to establish
pre-arranged plans to buy or sell company stock. Using these plans, individuals
can prudently and gradually diversify their investment
portfolios.
SIGNATURE
Pursuant
to the requirements of the Securities Exchange Act of 1934, Peet's Coffee &
Tea, Inc. has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
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Peet's
Coffee & Tea, Inc.
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Dated:
November 11, 2010
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By:
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/s/
Thomas Cawley
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Thomas
Cawley
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Chief
Financial Officer
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