SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
D.C.
Form
8-K
CURRENT
REPORT
Pursuant
to Section 14 or 15(d) of the
Securities
Exchange Act of 1934
Date of report (Date
of earliest event reported): September 9, 2008
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TANDY LEATHER FACTORY,
INC.
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(Exact
Name of Registrant as Specified in Its Charter_
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Delaware
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(State
or Other Jurisdiction of
Incorporation)
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1-12368
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75-2543540
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(Commission
File Number)
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(IRS
Employer Identification Number)
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1900
Southeast Loop 820, Fort Worth, Texas
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76140
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(Address
of Principal Executive Offices)
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(Zip
Code)
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(817)
872-3200
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(Registrant’s
Telephone Number, Including Area
Code)
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(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):
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))
Item
8.01. Other Events.
STOCK
REPURCHASE
Effective
January 1, 2007, The Leather Factory, Inc. Employees’ Stock Ownership Plan (the
“ESOP”) terminated. On the date of its termination, the ESOP held 929,069 shares
of Tandy Leather Factory, Inc. common stock.
On
September 9, 2008, in connection with the distribution of the shares of Company
common stock held by the ESOP following its termination to the ESOP
participants, the Board approved a limited stock repurchase plan (the “Plan”)
whereby all ESOP participants who are not executive officers of the Company
(“Non-Officer Participants”) will have the option to sell the shares of Company
common stock distributed to them from the ESOP, back to the Company. The option
will remain open to the Non-Officer Participants for a period of sixty days
beginning on September 26, 2008 and ending on November 25, 2008. The purchase
price of the shares will be calculated at a price-per-share equal to the closing
price of a share of the Company’s common stock on the American Stock Exchange on
the business day the Non-Officer Participant notifies the ESOP administrator of
his or her intent to sell his or her shares to the Company.
SIGNATURES
Pursuant to the requirements of the
Securities Exchange Act of 1934, registrant has duly caused this report to be
signed on its behalf by the undersigned hereunto duly authorized.
TANDY
LEATHER FACTORY, INC.
Date:
October 14,
2008 By:
/s/ Ron
Morgan
Ron Morgan,
Chief Executive Officer