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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) June 23, 2008
Pizza
Inn, Inc.
(Exact
name of registrant as specified in its charter)
Missouri 0-12919 47-0654575
(State or
other jurisdiction of incorporation) (Commission File Number) (IRS Employer
Identification No.)
3551
Plano Parkway, The Colony,
Texas 75056
(Address
of principal executive
offices) (Zip
Code)
Registrant’s
telephone number, including area code (469) 384-5000
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 (see General Instruction
A.2. below):
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))
Change in Directors
or Principal Officers
ITEM
5.02 DEPARTURE OF DIRECTORS OR PRINCIPAL OFFICERS; ELECTION OF
DIRECTORS;
APPOINTMENT OF PRINCIPAL OFFICERS
Appointment
of Principal Officers; Compensatory Arrangements of Certain
Officers
Effective
June 23, 2008, Nancy Ellefson has been appointed Vice President of Finance and
Principal Accounting Officer of Pizza Inn, Inc. Since
January 2005, Ms. Ellefson has worked as a consultant for Apex Restaurant
Group and Preferred Restaurant Services. Ms.
Ellefson served from
December 1999 to December 2004 as the Corporate Controller and Vice President of
Finance for Furr's Restaurant Group, Inc. (a publicly traded company), and
Buffet Partners, L.P., and from January 1998 to January 1999 as Controller of
Toscorp,
Inc. Ms.
Ellefson has no family relationships with any other director or executive
officer of the Company. There are no transactions in which Ms. Ellefson has an
interest requiring disclosure under Item 404(a) of Regulation
S-K.
On June
23, 2008, the Company entered into an employment letter with Ms. Ellefson (the
"Employment Letter"). The Employment Letter provides for her employment as Vice
President of Finance and Principal Accounting Officer of the Company beginning
June 23, 2008, subject to certain termination rights. The Employment Letter
provides that she will receive an annual base salary of $140,000, subject to
annual review by the Company. She will be entitled to receive annual
and other bonuses as may be determined in the sole discretion of the Company's
Compensation Committee.
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.
Pizza Inn, Inc.
June 26, 2008
By: _______________________________________________
Charles R. Morrison, President and Chief Executive Officer
Charles R. Morrison, President and Chief Executive Officer