<SEC-DOCUMENT>0001140361-17-046654.txt : 20171219
<SEC-HEADER>0001140361-17-046654.hdr.sgml : 20171219
<ACCEPTANCE-DATETIME>20171219124531
ACCESSION NUMBER:		0001140361-17-046654
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20171213
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
ITEM INFORMATION:		Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20171219
DATE AS OF CHANGE:		20171219

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BALCHEM CORP
		CENTRAL INDEX KEY:			0000009326
		STANDARD INDUSTRIAL CLASSIFICATION:	CHEMICALS & ALLIED PRODUCTS [2800]
		IRS NUMBER:				132578432
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-13648
		FILM NUMBER:		171263407

	BUSINESS ADDRESS:	
		STREET 1:		P O BOX 600
		CITY:			NEW HAMPTON
		STATE:			NY
		ZIP:			10958
		BUSINESS PHONE:		8453265632

	MAIL ADDRESS:	
		STREET 1:		P O BOX 600
		CITY:			NEW HAMPTON
		STATE:			NY
		ZIP:			10958
</SEC-HEADER>
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<div style="FONT-SIZE: 14pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: center">UNITED STATES</div>

<div style="FONT-SIZE: 14pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: center">SECURITIES AND EXCHANGE COMMISSION</div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: center">Washington, D.C. 20549</div>

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<div style="FONT-SIZE: 18pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: center">FORM 8-K</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: center">Current Report</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: center">Pursuant to section 13 or 15(d) of the Securities Exchange Act of 1934</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: center">Date of report (date of earliest event reported): December 13, 2017</div>

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<div style="FONT-SIZE: 24pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: normal; TEXT-ALIGN: center">Balchem Corporation</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: center">(Exact name of registrant as specified in its charter)</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: center">1-13648</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: center">New Hampton, NY 10958</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: center">(Address of principal executive offices) (Zip Code)</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: center">Registrant&#8217;s telephone number, including area code: (845) 326-5600</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left; TEXT-INDENT: 27pt">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:</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</div>
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<div style="TEXT-ALIGN: left">&#160;</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; TEXT-ALIGN: left; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (&#167;230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (&#167;240.12b-2 of this chapter).</div>

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<div style="FONT-SIZE: 13px; FONT-FAMILY: 'Times New Roman'; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"><br>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; TEXT-ALIGN: left; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.&#160;<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">&#9744;</font></div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: justify">Item 5.02 -&#160; Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers; Compensatory Arrangements of Certain Officers</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">On December 13, 2017, in accordance with Balchem Corporation&#8217;s (the &#8220;Corporation&#8221;) Bylaws, the Board of Directors (the &#8220;Board&#8221;) of the Corporation elected Mr. Daniel E. Knutson to fill an existing vacancy on the Board, with Mr. Knutson to serve as a Class 2 Director.&#160; Mr. Knutson&#8217;s term will begin on February 1, 2018 and will continue until the Corporation&#8217;s 2018 Annual Meeting of Shareholders, at which time he will stand for election by the Corporation&#8217;s shareholders.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify">These actions are being taken in connection with anticipated retirement of Mr. Edward L. McMillan, a Class 2 director, from the Board effective as of the Corporation&#8217;s 2018 Annual Meeting of Shareholders and to facilitate the transition of Mr. Knutson to the Board.&#160; Mr. McMillan&#8217;s anticipated retirement is consistent with Corporation&#8217;s Corporate Governance Guidelines, which call for a director retire at the conclusion of his term in which he reaches the age of 70.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify">Mr. Knutson currently serves as the Executive Vice President for Special Projects at Land O&#8217;Lakes, Inc. (&#8220;<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'"><u>Land O&#8217;Lakes</u></font>&#8221;).&#160; Land O&#8217;Lakes is one of America&#8217;s premier agribusiness and food companies.&#160; Previously, Mr. Knutson served as Executive Vice President and Chief Financial Officer at Land O&#8217;Lakes from 2012 to 2017, where he oversaw corporate finance, accounting, treasury, audit and strategy and played key roles in many of Land O&#8217;Lakes&#8217; transactions. In addition, he was responsible for Land O&#8217;Lakes investment in Moark LLC. Mr. Knutson joined Land O&#8217;Lakes in 1978 and prior to his appointment as Chief Financial Officer, he held several leadership roles within its finance and accounting groups.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify">It is anticipated that Mr. Knutson will serve on the Audit Committee of the Board.&#160; Upon his election becoming effective, Mr. Knutson will be eligible to participate in the Corporation&#8217;s director compensation programs.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">In 2016, the Corporation sold $20,010,820.00 of products to Land O&#8217; Lakes and through December 19, 2017, Corporation sold $20,070,929.00 of products to Land O&#8217; Lakes. &#160;No arrangement or understanding exists between Mr. Knutson and any other person pursuant to which Mr. Knutson was selected as a director of the Corporation</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">.</font></div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: justify">Item 5.03 - Amendments to Articles of Incorporation or Bylaws&#894; Change in Fiscal Year</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">On December 13, 2017, Board of the Corporation amended its Bylaws to temporarily expand the number of Board members from seven to eight members and the number of Class 2 directors from two to three members, effective February 1, 2018. Effective immediately prior to election of directors at the Corporation&#8217;s 2018 Annual Meeting of Shareholders, the number of directors will be reduced back to seven members and the number of Class 2 directors will be reduced back to two members.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: justify">Financial Statements and Exhibits</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">(c) Exhibits</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">Bylaws Amendments &#8211; Effective December 13, 2017.</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">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.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">&#160;</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">BALCHEM CORPORATION</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">By:/s/ Mark A. Stach</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">&#160;Dated: December 19, 2017&#160;</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">Mark A. Stach, General Counsel and Secretary</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: center">EXHIBIT INDEX</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">Bylaws Amendments &#8211; Effective December 13, 2017.</div>
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<div>&#160;</div>

<div>&#160;</div>

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<DOCUMENT>
<TYPE>EX-3.2
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<FILENAME>ex3_2.htm
<DESCRIPTION>EXHIBIT 3.2
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'"><u>Exhibit 3.2 &#8211; Bylaws Amendments &#8211; Effective December 13, 2017</u></font>.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">Article III, Section 2 of the Bylaws is hereby deleted and replaced with the following:</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; MARGIN-LEFT: 36pt; MARGIN-RIGHT: 36pt">&#8220;Article III, Section 2.&#160; <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'"><u>NUMBER, CLASSIFICATION AND TENURE</u></font>. The number of directors of the Corporation shall be eight (8), but, effective immediately prior to the election of directors at the 2018 Annual Meeting of Shareholders, shall be reduced to seven (7).&#160; The Board of Directors are divided into three classes, Class 1, Class 2, and Class 3, who have staggered three year terms.&#160; Class 1 shall consist of two (2) directors, Class 2 shall consist of three (3) directors and Class 3 and shall consist of three (3) directors, but, effective immediately prior to election of directors at said 2018 Annual Meeting of Shareholders, Class 2 shall be reduced to two (2) directors.&#160; The term of office of each class of directors shall expire at the third succeeding annual meeting of shareholders following their election.&#8221;</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">The first sentence of Article III, Section 8 of the Bylaws is hereby deleted and replaced with the following:</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; MARGIN-LEFT: 36pt; MARGIN-RIGHT: 36pt">&#8220;Any vacancy occurring in the Board of Directors whether occurring by reason of the death, disability or resignation of any director <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">or, as specified by Maryland Code, Corporations and Associations, &#167; 2-407(b)(ii), of the by virtue of an increase in the number of directors</font>, may be filled by a majority of the remaining members of the Board of Directors although such majority is less than a quorum, as provided in the Charter.&#8221;</div>

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