UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934
DECEMBER 6, 2006
Date of Report (Date of earliest event reported)
COLONIAL COMMERCIAL CORP.
(Exact name of Registrant as Specified in Charter)
NEW YORK 1-6663 11-2037182
(State or other Jurisdiction (Commission File (IRS Employer
of Incorporation) Number) Identification No.)
275 WAGARAW ROAD, HAWTHORNE, 07506
NEW JERSEY
(Address of Principal Executive Offices) (Zip Code)
Registrant's Telephone Number, Including Area Code: 973-427-8224
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
Exchang 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))
ITEM 1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT
On December 6, 2006, the Company granted ten-year options to purchase
25,000 shares of common stock at an exercise price of $1.85 per share to each of
the following directors: E. Bruce Fredrikson, Stuart H. Lubow, Ronald H. Miller
and Phillip Siegel. The option to each director was immediately vested for
10,000 shares and will vest for 5,000 additional shares on each of the first
three anniversaries of the grant date if the optionee then continues as a
director. The options were granted in reliance on the exemption from
registration provided by Section 4(2) of the Securities Act of 1933, as amended.
The form of stock option grant letter is filed herewith.
ITEM 3.02 UNREGISTERED SALES OF EQUITY SECURUTIES
Reference is made to Item 1.01 for option grants made by the Company.
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS
(d) Exhibits
Exhibit No. Description
10.01 Form of stock option grant letter, filed
herewith.
10.02 Colonial Commercial Corp. 2006 Stock Plan,
incorporated herein by reference from Exhibit
10.01 to the Company's Form 10-Q filed on
November 13, 2006.
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.
COLONIAL COMMERCIAL CORP.
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(Registrant)
Date: December 12, 2006 /s/ William Salek
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William Salek
Chief Financial Officer
INDEX TO EXHIBITS
Exhibit No. Description
10.01 Form of stock option grant letter, filed
herewith.
10.02 Colonial Commercial Corp. 2006 Stock Plan,
incorporated herein by reference from Exhibit
10.01 to the Company's Form 10-Q filed on
November 13, 2006.