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     <!-- Form Type:      8-K                           -->
     <!-- Client Name:    Amerigroup Corp               -->
     <!-- Attorney Name:  Mary Sheridan                 -->
     <TITLE>8-K</TITLE>
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UNITED STATES<BR>SECURITIES AND EXCHANGE COMMISSION<BR>WASHINGTON, DC 20549</b> </FONT></TD></TR>
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<TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=3><b>Form 8-K</b></FONT></TD></TR>
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<TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2> CURRENT
REPORT<BR>PURSUANT TO SECTION 13 OR 15(d) OF<BR> THE SECURITIES EXCHANGE ACT OF 1934 </FONT></TD></TR>
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<TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Date
of report (Date of earliest event reported):&nbsp;&nbsp;January 26, 2005 (November 9, 2004)</FONT></TD></TR>
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     <TD WIDTH="600" ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">
AMERIGROUP Corporation</FONT></TD></TR>
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     <TD WIDTH="600" ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
(Exact name of Registrant as specified in its charter)</FONT></TD></TR>
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<TD WIDTH="33%" ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Delaware</FONT></TD>
<TD WIDTH="34%" ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>001-31574</FONT></TD>
<TD WIDTH="33%" ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>54-1739323</FONT></TD>
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<TD ALIGN="CENTER"><Font Face="Times New Roman, Times, Serif" Size=2>(State or other jurisdiction <BR>of incorporation)</font></td>
<TD ALIGN="CENTER"><Font Face="Times New Roman, Times, Serif" Size=2>(Commission File Number) </FONT></TD>
<TD ALIGN="CENTER"><Font Face="Times New Roman, Times, Serif" Size=2>(IRS Employer<BR> Identification No.) </FONT></TD>
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<TD ALIGN=center WIDTH=50%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
   4425 Corporation Lane<BR>
 Virginia Beach, Virginia
</FONT></TD>
<TD ALIGN=CENTER WIDTH=15%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" WIDTH="35%" VALIGN="BOTTOM"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>23462</FONT></TD>
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&nbsp;&nbsp;(Address of principal <BR>executive office)
</FONT></TD>
<TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(Zip Code) </FONT></TD>
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<TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Registrant's
telephone number, including area code&nbsp;&nbsp;(757) 490-6900 </FONT></TD></TR>
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     <TD WIDTH="600" ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;<!-- FORMER NAME OR ADDRESS --></FONT></TD></TR>
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     <TD WIDTH="600" ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">(Former name or former address, if changed since last report.) </FONT></TD></TR>
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<TD><FONT FACE="Times New Roman, Times, Serif" SIZE=2>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): </FONT></TD></TR></TABLE><BR>

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<TD WIDTH=4%><font face="wingdings"> &#168; </font></TD>
<TD WIDTH=96%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
 Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) </FONT></TD>
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 Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) </FONT></TD>
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<TD WIDTH=4%><font face="wingdings"> &#168; </font></TD>
<TD WIDTH=96%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
 Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act <BR>(17 CFR
240.14d-2(b)) </FONT></TD>
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<TD WIDTH=96%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
 Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act <BR>(17 CFR
240.13e-4(c)) </FONT></TD>
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<TD><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>Item 1.01 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Entry Into a Material Definitive Agreement</B> </FONT></TD></TR></TABLE><BR>

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<TD><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
         &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On November 9,
2004, the Compensation Committee of the Board of Directors of AMERIGROUP
Corporation (the &#147;Company&#148;) granted to E. Paul Dunn, Jr., the
Company&#146;s executive vice president and chief financial officer, an
incentive stock option to purchase 170,000 shares of the Company&#146;s common
stock, par value $0.01 per share (the &#147;Common Stock&#148;), under the
AMERIGROUP Corporation 2003 Equity Incentive Plan (the &#147;Plan&#148;). The
option has an exercise price of $61.02 per share.
Subject to a continued employment requirement, the option will vest as to 25% on
November 9, 2005 and will continue to vest at a rate of 6.25% per calendar
quarter until fully vested on November 9, 2008. Mr. Dunn&#146;s option will
expire on November 9, 2014 (unless earlier terminated in accordance with its
terms). </FONT></TD></TR>
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<TD><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
         &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On November 9,
2004, the Compensation Committee of the Board of Directors of the Company
authorized the grant, effective as of December 31, 2004, of an incentive stock
option to purchase 15,000 shares of the Company&#146;s Common Stock under the
Plan, to James E. Hargroves, executive vice president, corporate development.
The option has an exercise price of $76.15 per share. The option was 25% vested
as of December 31, 2004. Mr. Hargroves resigned from the Company effective
January 2, 2005 and, in accordance with the terms of the Plan, the unvested
portion of Mr. Hargroves' option was canceled. </FONT></TD></TR></TABLE>
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<TD><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As
a result of the Company's two-for-one stock split of its Common Stock, which
was in the form of a 100 percent stock dividend of one share of Common Stock for every
share of Common Stock issued and outstanding, and which was distributed on January 18,
2005 to shareholders of record as of December 31, 2004, Messrs. Dunn's and Hargroves'
incentive stock options were adjusted proportionately, pursuant to the terms of the Plan. </FONT></TD></TR>
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<TD><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each
option grant made pursuant to the Plan is evidenced by an option agreement between the
Company and the person named therein. Options granted pursuant to the Plan are intended to
be either incentive stock options within the meaning of Section 422 of the Internal
Revenue Code of 1986, as amended (&#147;ISOs&#148;) or options that are not intended to be
so qualified (&#147;NSOs&#148;). The forms of agreement used to grant ISOs and NSOs under
the Plan are attached as Exhibits 10.2 and 10.3, respectively, to this Current Report on
Form 8-K and are incorporated herein by reference. The aforementioned option grants to
Messrs. Dunn and Hargroves were made pursuant to the form of agreement used for ISOs. </FONT></TD></TR>
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<TD><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>Item
9.01 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Financial Statements and Exhibits. </B></FONT></TD></TR></TABLE><BR>

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          <TD><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
          Exhibits. </FONT></TD></TR></TABLE><BR>



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<TD WIDTH=85%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
<U>Description</U></FONT></TD>
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<TD WIDTH=15%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>10.1 </FONT></TD>
<TD WIDTH=85%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
AMERIGROUP
Corporation 2003 Equity Incentive Plan (incorporated by reference to Exhibit
10.37 to our Quarterly Report on Form 10-Q for the quarter ended June
30, 2003, filed on August 11, 2003).</FONT></TD>
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<TD WIDTH=15%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>10.2 </FONT></TD>
<TD WIDTH=85%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
Form
of AMERIGROUP Corporation Incentive Stock Option Agreement.</FONT></TD>
</TR>
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<TD WIDTH=15%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>10.3 </FONT></TD>
<TD WIDTH=85%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
Form
of AMERIGROUP Corporation Nonqualified Stock Option Agreement.</FONT></TD>
</TR>
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<TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><b>SIGNATURES </b></FONT></TD></TR>
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<TD><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;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.  </FONT></TD></TR>
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    <TD WIDTH="44%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp; </FONT></TD>
<TD WIDTH="48%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2"> AMERIGROUP CORPORATION</FONT></TD>
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    <TD WIDTH="8%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2"> &nbsp;</FONT></TD>
    <TD WIDTH="39%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp; <!-- DATE--> </FONT></TD>
    <TD WIDTH="5%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp; </FONT></TD>
    <TD WIDTH="5%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">By: </FONT></TD>
    <TD WIDTH="43%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;/s/  E. Paul Dunn, Jr. </FONT></TD>
  </TR>
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    <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp; </FONT></TD>
    <TD>&nbsp; </TD>
    <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp; </FONT></TD>
    <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp; </FONT></TD>
    <TD> <HR NOSHADE SIZE="1"> </TD>
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    <TD WIDTH="57%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp; </FONT></TD>
    <TD WIDTH="8%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">Name:</FONT></TD>
    <TD WIDTH="35%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2"> E. Paul Dunn, Jr.</FONT></TD>
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    <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp; </FONT></TD>
    <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2">Title: </FONT></TD>
    <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2"> Executive Vice President and Chief Financial Officer
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<TD WIDTH=8%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Date: </FONT></TD>
<TD WIDTH=39%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>January 26, 2005</FONT></TD>
<TD WIDTH=53%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
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<TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>EXHIBIT INDEX</FONT></TD></TR>
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<TD WIDTH=15%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><U>Exhibit No.</U> </FONT></TD>
<TD WIDTH=85%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
<U>Description</U></FONT></TD>
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<TD WIDTH=15%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>10.1 </FONT></TD>
<TD WIDTH=85%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
AMERIGROUP
Corporation 2003 Equity Incentive Plan (incorporated by reference to Exhibit
10.37 to our Quarterly Report on Form 10-Q for the quarter ended June
30, 2003, filed on August 11, 2003).</FONT></TD>
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<TD WIDTH=15%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>10.2 </FONT></TD>
<TD WIDTH=85%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
Form
of AMERIGROUP Corporation Incentive Stock Option Agreement.</FONT></TD>
</TR>
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<TD WIDTH=15%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>10.3 </FONT></TD>
<TD WIDTH=85%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
Form
of AMERIGROUP Corporation Nonqualified Stock Option Agreement.</FONT></TD>
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{"company-data": {"conformed-name": "AMERIGROUP CORP", "cik": "0001064863", "assigned-sic": "6324", "irs-number": "541739323", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-31574", "film-number": "05551464"}, "business-address": {"street1": "4425 CORPORATION LANE", "street2": "SUITE 100", "city": "VIRGINIA BEACH", "state": "VA", "zip": "23462", "phone": "7574906900"}, "mail-address": {"street1": "4425 CORPORATION LN", "city": "VIRGINIA BEACH", "state": "VA", "zip": "23462"}}
8-K
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 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):  January 26, 2005 (November 9, 2004)
AMERIGROUP Corporation
(Exact name of Registrant as specified in its charter)
Delaware
001-31574
54-1739323
(State or other jurisdiction
of incorporation)
(Commission File Number)
(IRS Employer
Identification No.)
4425 Corporation Lane
Virginia Beach, Virginia
23462
(Address of principal
executive office)
(Zip Code)
Registrant's
telephone number, including area code  (757) 490-6900
(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 (see General
Instruction A.2. below):
¨
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 1.01       Entry Into a Material Definitive Agreement
On November 9,
2004, the Compensation Committee of the Board of Directors of AMERIGROUP
Corporation (the "Company") granted to E. Paul Dunn, Jr., the
Company's executive vice president and chief financial officer, an
incentive stock option to purchase 170,000 shares of the Company's common
stock, par value $0.01 per share (the "Common Stock"), under the
AMERIGROUP Corporation 2003 Equity Incentive Plan (the "Plan"). The
option has an exercise price of $61.02 per share.
Subject to a continued employment requirement, the option will vest as to 25% on
November 9, 2005 and will continue to vest at a rate of 6.25% per calendar
quarter until fully vested on November 9, 2008. Mr. Dunn's option will
expire on November 9, 2014 (unless earlier terminated in accordance with its
terms).
On November 9,
2004, the Compensation Committee of the Board of Directors of the Company
authorized the grant, effective as of December 31, 2004, of an incentive stock
option to purchase 15,000 shares of the Company's Common Stock under the
Plan, to James E. Hargroves, executive vice president, corporate development.
The option has an exercise price of $76.15 per share. The option was 25% vested
as of December 31, 2004. Mr. Hargroves resigned from the Company effective
January 2, 2005 and, in accordance with the terms of the Plan, the unvested
portion of Mr. Hargroves' option was canceled.
As
a result of the Company's two-for-one stock split of its Common Stock, which
was in the form of a 100 percent stock dividend of one share of Common Stock for every
share of Common Stock issued and outstanding, and which was distributed on January 18,
2005 to shareholders of record as of December 31, 2004, Messrs. Dunn's and Hargroves'
incentive stock options were adjusted proportionately, pursuant to the terms of the Plan.
Each
option grant made pursuant to the Plan is evidenced by an option agreement between the
Company and the person named therein. Options granted pursuant to the Plan are intended to
be either incentive stock options within the meaning of Section 422 of the Internal
Revenue Code of 1986, as amended ("ISOs") or options that are not intended to be
so qualified ("NSOs"). The forms of agreement used to grant ISOs and NSOs under
the Plan are attached as Exhibits 10.2 and 10.3, respectively, to this Current Report on
Form 8-K and are incorporated herein by reference. The aforementioned option grants to
Messrs. Dunn and Hargroves were made pursuant to the form of agreement used for ISOs.
Item
9.01       Financial Statements and Exhibits.
(c)            
          Exhibits.
Exhibit No.
Description
10.1
AMERIGROUP
Corporation 2003 Equity Incentive Plan (incorporated by reference to Exhibit
10.37 to our Quarterly Report on Form 10-Q for the quarter ended June
30, 2003, filed on August 11, 2003).
10.2
Form
of AMERIGROUP Corporation Incentive Stock Option Agreement.
10.3
Form
of AMERIGROUP Corporation Nonqualified Stock Option Agreement.
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.
AMERIGROUP CORPORATION
By:
/s/  E. Paul Dunn, Jr.
Name:
E. Paul Dunn, Jr.
Title:
Executive Vice President and Chief Financial Officer
Date:
January 26, 2005
EXHIBIT INDEX
Exhibit No.
Description
10.1
AMERIGROUP
Corporation 2003 Equity Incentive Plan (incorporated by reference to Exhibit
10.37 to our Quarterly Report on Form 10-Q for the quarter ended June
30, 2003, filed on August 11, 2003).
10.2
Form
of AMERIGROUP Corporation Incentive Stock Option Agreement.
10.3
Form
of AMERIGROUP Corporation Nonqualified Stock Option Agreement.