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<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Washington, D.C. 20549 </B></P>

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<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Form 8-K </B></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Current Report </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Pursuant to Section&nbsp;13 or 15(d) of the
Securities Exchange Act of 1934 </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Date of Report (Date of earliest event reported):
2/28/2012</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Commission File Number</B></P>

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    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: center">001-34581</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></P>

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<P STYLE="font: 24pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Kraton Performance Polymers, Inc.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in"><B>(Exact name of registrant
as specified in its charter) </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-family: Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 47%; font-size: 10pt; font-weight: bold; text-align: center">Delaware</TD>
    <TD STYLE="width: 53%; font-size: 10pt; font-weight: bold; text-align: center">20-0411521</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(State or other jurisdiction of</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in"><B>incorporation or organization)</B></P></TD>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(I.R.S. Employer</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Identification No.)</B></P></TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>15710 John F. Kennedy Blvd., Suite 300 </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Houston, TX 77032 </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(Address of principal executive offices,
including zip code) </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>281-504-4700 </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(Registrant&rsquo;s telephone number, including
area code) </B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>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: </B></P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 24.45pt"><FONT STYLE="font-family: Wingdings 2">&#163;</FONT></TD><TD><B>Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) </B></TD></TR></TABLE>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 24.45pt"><FONT STYLE="font-family: Wingdings 2">&#163;</FONT></TD><TD><B>Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) </B></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 24.45pt"><FONT STYLE="font-family: Wingdings 2">&#163;</FONT></TD><TD><B>Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) </B></TD></TR></TABLE>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 24.45pt"><FONT STYLE="font-family: Wingdings 2">&#163;</FONT></TD><TD><B>Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) </B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 24.45pt; text-indent: -24.5pt">&nbsp;</P>





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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Item 5.02 Departure of Directors or Certain Officers; Election
of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 24.5pt"><B><I>Establishment of Targets for 2012 Cash
Incentive Plan. </I></B>On February&nbsp;28, 2012, the Compensation Committee of Kraton Performance Polymers, Inc. approved the
2012 Performance Targets under the Polymer Holdings LLC Cash Incentive Plan for the Kraton Leadership Team, which includes our
named executive officers.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 24.5pt">For the bonus year that ends December 31, 2012,
the Committee has established the following Target Bonus amounts for our named executive officers:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 62%; font-weight: bold; text-decoration: underline">Named Executive Officer</TD>
    <TD STYLE="width: 38%; font-weight: bold; text-decoration: underline">Target Bonus</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Kevin M. Fogarty</TD>
    <TD>1.0 x Base Salary</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Stephen E. Tremblay</TD>
    <TD>.60 x Base Salary</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Holger R. Jung</TD>
    <TD>.50 x Base Salary</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Lothar P. F. Freund</TD>
    <TD>.50 x Base Salary</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>G. Scott Lee</TD>
    <TD>.50x Base Salary</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">As described more fully below, if the Business Performance Targets
and the Personal Performance Targets are achieved at the maximum, or &ldquo;stretch,&rdquo; levels, each named executive officer&rsquo;s
actual bonus can be up to two times his Target Bonus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 27pt"><FONT STYLE="color: black">The Compensation Committee
has established Business Performance Targets for the Company and Personal Performance Targets for each named executive officer
and has assigned a percentage weighting to the achievement of each. The actual bonus earned shall be the sum of the amount earned
for achievement of Business Performance Targets and the amount earned for the achievement of the Personal Performance Targets,
provided that if no bonus compensation is payable for the achievement of Business Performance Targets, then no annual bonus compensation
shall be payable</FONT>, and provided, further, that, because we consider the achievement of workplace safety as a key component
of overall performance, a safety multiplier from 0.9 to 1.1 is applied to the total based on the overall safety performance of
our company, such that the bonus for any given named executive officer will calculated using the following formula:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 27pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Safety Multiplier x ((0.75 x Business Factor)
+ (0.25 x Personal Factor)) = <FONT STYLE="text-underline-style: double"><U>Total Annual Cash Incentive</U></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 24.5pt">The Business Performance Targets are comprised
of three performance measures, each of which is assigned an individual weighting by the Committee: achievement of adjusted EBITDA;
achievement of operating cash flow; and percentage of innovation sales (percentage of income generated from sales of products commercialized
within the past five years).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 24.5pt">The Personal Performance Targets are comprised
of a number of unique, individual performance measures, each of which is assigned an individual weighting, within the executive&rsquo;s
area of management or control.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 24.5pt">The Committee has established threshold, target
and stretch targets for each of the Business Performance Targets and Personal Performance Targets, which if achieved, will provide
a bonus multiplier of 0.5, 1.0 or 2.0, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 24.5pt">Any such bonuses will be paid in cash, and
the Company expects that such payments, if any, will be made in first quarter 2012.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B><I>Establishment of NEO Base Compensation
for 2012.</I></B><I> </I>On February&nbsp;28, 2012, our Compensation Committee established annual base compensation for our executive
officers, including our named executive officers. For 2012, Mr.&nbsp;Fogarty&rsquo;s base compensation will be $735,000 (raised
from $700,000), Mr.&nbsp;Tremblay&rsquo;s will be $395,000 (raised from $375,000), Dr. Jung&rsquo;s will be $350,000 (unchanged),
Dr. Freund&rsquo;s will be $325,000 (unchanged) and Mr.&nbsp;Lee&rsquo;s will be $300,000 (raised from $275,000). Changes are effective
April&nbsp;1, 2012.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 24.5pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 24.5pt"><B>SIGNATURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 24.5pt">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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

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<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">Kraton Performance Polymers, Inc.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">Date: March&nbsp;5, 2012&nbsp;</TD>
    <TD STYLE="width: 4%">By:&nbsp;</TD>
    <TD STYLE="width: 46%">/s/&nbsp;&nbsp;Stephen E. Tremblay&nbsp;&nbsp;&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD></TD>
    <TD></TD>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; border-top: Black 1pt solid"></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Stephen E. Tremblay</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Chief Financial Officer</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

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{"company-data": {"conformed-name": "Kraton Performance Polymers, Inc.", "cik": "0001321646", "assigned-sic": "2821", "irs-number": "200411521", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-34581", "film-number": "12666862"}, "business-address": {"street1": "15710 JOHN F. KENNEDY BLVD.", "street2": "SUITE 300", "city": "HOUSTON", "state": "TX", "zip": "77032", "phone": "800 457-2866"}, "mail-address": {"street1": "15710 JOHN F. KENNEDY BLVD.", "street2": "SUITE 300", "city": "HOUSTON", "state": "TX", "zip": "77032"}, "former-company": {"former-conformed-name": "Polymer Holdings LLC", "date-changed": "20050324"}}
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):
2/28/2012
Commission File Number
001-34581
Kraton Performance Polymers, Inc.
(Exact name of registrant
as specified in its charter)
Delaware
20-0411521
(State or other jurisdiction of
incorporation or organization)
(I.R.S. Employer
Identification No.)
15710 John F. Kennedy Blvd., Suite 300
Houston, TX 77032
(Address of principal executive offices,
including zip code)
281-504-4700
(Registrant's telephone number, including
area code)
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))
Item 5.02 Departure of Directors or Certain Officers; Election
of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Establishment of Targets for 2012 Cash
Incentive Plan.
On February 28, 2012, the Compensation Committee of Kraton Performance Polymers, Inc. approved the
2012 Performance Targets under the Polymer Holdings LLC Cash Incentive Plan for the Kraton Leadership Team, which includes our
named executive officers.
For the bonus year that ends December 31, 2012,
the Committee has established the following Target Bonus amounts for our named executive officers:
Named Executive Officer
Target Bonus
Kevin M. Fogarty
1.0 x Base Salary
Stephen E. Tremblay
.60 x Base Salary
Holger R. Jung
.50 x Base Salary
Lothar P. F. Freund
.50 x Base Salary
G. Scott Lee
.50x Base Salary
As described more fully below, if the Business Performance Targets
and the Personal Performance Targets are achieved at the maximum, or "stretch," levels, each named executive officer's
actual bonus can be up to two times his Target Bonus.
The Compensation Committee
has established Business Performance Targets for the Company and Personal Performance Targets for each named executive officer
and has assigned a percentage weighting to the achievement of each. The actual bonus earned shall be the sum of the amount earned
for achievement of Business Performance Targets and the amount earned for the achievement of the Personal Performance Targets,
provided that if no bonus compensation is payable for the achievement of Business Performance Targets, then no annual bonus compensation
shall be payable
, and provided, further, that, because we consider the achievement of workplace safety as a key component
of overall performance, a safety multiplier from 0.9 to 1.1 is applied to the total based on the overall safety performance of
our company, such that the bonus for any given named executive officer will calculated using the following formula:
Safety Multiplier x ((0.75 x Business Factor)
+ (0.25 x Personal Factor)) =
Total Annual Cash Incentive
The Business Performance Targets are comprised
of three performance measures, each of which is assigned an individual weighting by the Committee: achievement of adjusted EBITDA;
achievement of operating cash flow; and percentage of innovation sales (percentage of income generated from sales of products commercialized
within the past five years).
The Personal Performance Targets are comprised
of a number of unique, individual performance measures, each of which is assigned an individual weighting, within the executive's
area of management or control.
The Committee has established threshold, target
and stretch targets for each of the Business Performance Targets and Personal Performance Targets, which if achieved, will provide
a bonus multiplier of 0.5, 1.0 or 2.0, respectively.
Any such bonuses will be paid in cash, and
the Company expects that such payments, if any, will be made in first quarter 2012.
Establishment of NEO Base Compensation
for 2012.
On February 28, 2012, our Compensation Committee established annual base compensation for our executive
officers, including our named executive officers. For 2012, Mr. Fogarty's base compensation will be $735,000 (raised
from $700,000), Mr. Tremblay's will be $395,000 (raised from $375,000), Dr. Jung's will be $350,000 (unchanged),
Dr. Freund's will be $325,000 (unchanged) and Mr. Lee's will be $300,000 (raised from $275,000). Changes are effective
April 1, 2012.
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.
Kraton Performance Polymers, Inc.
Date: March 5, 2012
By:
/s/  Stephen E. Tremblay
Stephen E. Tremblay
Chief Financial Officer