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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) April 4, 2005 (March 31, 2005)

 

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ALBEMARLE CORPORATION

(Exact name of Registrant as specified in charter)

 

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Virginia		1-12658		54-1692118
(State or other jurisdiction of incorporation)		(Commission file number)		(IRS employer identification no.)

 

330 South Fourth Street, Richmond, Virginia		23219
(Address of principal executive offices)		(Zip code)

 

Registrant’s telephone number, including area code (804) 788-6000

 

Not applicable

(Former name or former address, if changed since last report)

 

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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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Section 1 — Registrant’s Business and Operations

 

Item 1.01 Entry into a Material Definitive Agreement.

 

On March 31, 2005, the Executive Compensation Committee (the “Committee”) of the Board of Directors of Albemarle Corporation (the “Company”) approved a salary increase for Mark C. Rohr, the Company’s President and Chief Executive Officer, from $600,000 to $775,000, effective April 1, 2005. After a review of peer group companies and consultation with the Committee’s independent outside consultant, the Committee decided to increase the Chief Executive Officer’s base salary to provide a competitive total compensation package. The Committee believes that this increase in base salary is consistent with the overall objectives of the Company’s executive compensation program as described in the Committee’s report in the Company’s proxy statement, dated March 18, 2005, in that it will bring the Chief Executive Officer’s salary in line with peer group companies. The Committee also believes that the Chief Executive Officer’s salary is reasonable and is not excessive.

 

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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 hereunto duly authorized.

 

Date: April 4, 2005

 

 

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