Avatar Holdings Inc. (Form: 8-K)  

 

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):   July 26, 2007

Avatar Holdings Inc.
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(Exact name of registrant as specified in its charter)

     
Delaware 001-07395 231739078
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(State or other jurisdiction 		_____________
(Commission 		______________
(I.R.S. Employer
of incorporation) File Number) Identification No.)
      
201 Alhambra Circle, Coral Gables, Florida   33134
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(Address of principal executive offices) 		  ___________
(Zip Code)
     
Registrant’s telephone number, including area code:   1-305-442-7000

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:

[  ]  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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Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

5.02 (e)

On July 26, 2007, Charles L. McNairy, an Executive Vice President and the Treasurer of Avatar Holdings Inc. (the "Company"), notified the Company that he will retire at the close of business on August 3, 2007, for health reasons. The Company entered into an Amendment (the "Amendment"), dated July 26, 2007, to the Restricted Stock Unit Agreement dated July 22, 2004 (the "RSU Agreement"), between the Company and Mr. McNairy. The Amendment provides that on August 3, 2007, the 12,500 RSUs previously granted to Mr. McNairy will vest in full and convert into 12,500 shares of the Company's Common Stock. But for the Amendment, Mr. McNairy would receive 8,958 shares under the RSU Agreement.





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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.

         
    Avatar Holdings Inc.
          
July 31, 2007   By:   Juanita I. Kerrigan
       
        Name: Juanita I. Kerrigan
        Title: Vice President and Secretary