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<P align="center" style="font-size: 14pt"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION<BR>
<FONT style="font-size: 12pt">Washington, D.C. 20549
</FONT></B>

<P align="center" style="font-size: 18pt"><B>FORM 8-K</B>

<P align="center" style="font-size: 12pt"><B>CURRENT REPORT<BR>
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934</B>

<P align="center" style="font-size: 10pt"><B>Date of Report (Date of earliest event reported): August 19, 2008</B>

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<P align="center" style="font-size: 24pt"><B>TANDY BRANDS ACCESSORIES, INC.<BR></B>
<FONT style="font-size: 10pt">(Exact name of registrant as specified in its charter)
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    <TD style="border-bottom: 1px solid #000000"><B>Delaware</B></TD>
    <TD>&nbsp;</TD>
    <TD style="border-bottom: 1px solid #000000"><B>0-18927</B></TD>
    <TD>&nbsp;</TD>
    <TD style="border-bottom: 1px solid #000000"><B>75-2349915</B></TD>
</TR>
<TR valign="top">
    <TD>(State or other Jurisdiction of Incorporation)</TD>
    <TD>&nbsp;</TD>
    <TD>(Commission File Number)</TD>
    <TD>&nbsp;</TD>
    <TD>(IRS Employer Identification No.)</TD>
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    <TD style="border-bottom: 1px solid #000000"><B>690 East Lamar Blvd.,<BR>Suite 200<BR>Arlington, Texas<BR></B></TD>
    <TD>&nbsp;</TD>
    <TD style="border-bottom: 1px solid #000000"><B>76011</B></TD>
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<TR valign="top">
    <TD>(Address of Principal Executive Offices)</TD>
    <TD>&nbsp;</TD>
    <TD>(Zip Code)</TD>
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<P align="center" style="font-size: 10pt">Registrant&#146;s telephone number, including area code: <B>(817) 265-4113</B>


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    <TD nowrap>(Former name or former address if changed since last report.)</TD>
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<P align="left" style="font-size: 10pt">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:

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<FONT face="Wingdings">&#111;</FONT> Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)<BR><BR>
<FONT face="Wingdings">&#111;</FONT> Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)<BR><BR>
<FONT face="Wingdings">&#111;</FONT> Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))<BR><BR>
<FONT face="Wingdings">&#111;</FONT> Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))<BR>


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<P align="justify" style="font-size: 10pt"><B>Item&nbsp;5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers;
Compensatory Arrangements of Certain Officers.</B>


<P align="justify" style="font-size: 10pt; text-indent: 4%">On August&nbsp;19, 2008, the Board of Directors (the &#147;<U>Board</U>&#148;) of Tandy Brands Accessories, Inc. (the
&#147;<U>Company</U>&#148;), upon recommendation of the Compensation Committee, approved the following base salaries for the
Company&#146;s chief executive officer, chief financial officer and other named executive officers for fiscal 2009. The
base salaries represented no increase in base compensation for Messrs.&nbsp;Jenkins, Mackey or Mitchell. The Board also
determined to not grant any equity compensation awards to such officers based on the Company&#146;s performance for fiscal
2008. The base salaries approved are as follows:

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    <TD nowrap align="left" style="border-bottom: 1px solid #000000"><B>Executive Officer</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000"><B>Fiscal 2009 Base Salary</B></TD>
    <TD>&nbsp;</TD>
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    <TD><DIV style="margin-left:10px; text-indent:-10px">J.S.B. Jenkins<BR>President and Chief Executive Officer</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">508,800</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="top">
    <TD><DIV style="margin-left:10px; text-indent:-10px">M.C. (Craig) Mackey<BR>Chief Financial Officer, Treasurer and Assistant Secretary</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">200,000</TD>
    <TD>&nbsp;</TD>
</TR>
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    <TD><DIV style="margin-left:10px; text-indent:-10px">David Lawhon<BR>Vice President of Operations</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">217,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="top">
    <TD><DIV style="margin-left:10px; text-indent:-10px">Jane A. Batts<BR>President &#150; Women&#146;s Division</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">216,300</TD>
    <TD>&nbsp;</TD>
</TR>
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    <TD><DIV style="margin-left:10px; text-indent:-10px">Morris D. Mitchell<BR>President &#150; Men&#146;s Division</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">220,500</TD>
    <TD>&nbsp;</TD>
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<P align="center" style="font-size: 10pt"><B>SIGNATURES</B>



<P align="justify" style="font-size: 10pt; text-indent: 4%">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 align="justify" style="font-size: 10pt; margin-left: 46%"><B>TANDY BRANDS ACCESSORIES, INC.</B>


<P align="justify" style="font-size: 10pt">Date: August&nbsp;21, 2008


<P align="justify" style="font-size: 10pt; margin-left: 46%; margin-top: -11pt">By: <U><B>/</B>s/ J.S.B. Jenkins&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>
<BR>
J.S.B. Jenkins
<BR>
President and Chief Executive Officer


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Filed by Bowne Pure Compliance
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): August 19, 2008
TANDY BRANDS ACCESSORIES, INC.
(Exact name of registrant as specified in its charter)
Delaware
0-18927
75-2349915
(State or other Jurisdiction of Incorporation)
(Commission File Number)
(IRS Employer Identification No.)
690 East Lamar Blvd.,
Suite 200
Arlington, Texas
76011
(Address of Principal Executive Offices)
(Zip Code)
Registrant's telephone number, including area code:
(817) 265-4113
N/A
(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:
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 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers;
Compensatory Arrangements of Certain Officers.
On August 19, 2008, the Board of Directors (the "
Board
") of Tandy Brands Accessories, Inc. (the
"
Company
"), upon recommendation of the Compensation Committee, approved the following base salaries for the
Company's chief executive officer, chief financial officer and other named executive officers for fiscal 2009. The
base salaries represented no increase in base compensation for Messrs. Jenkins, Mackey or Mitchell. The Board also
determined to not grant any equity compensation awards to such officers based on the Company's performance for fiscal
2008. The base salaries approved are as follows:
Executive Officer
Fiscal 2009 Base Salary
J.S.B. Jenkins
President and Chief Executive Officer
$
508,800
M.C. (Craig) Mackey
Chief Financial Officer, Treasurer and Assistant Secretary
$
200,000
David Lawhon
Vice President of Operations
$
217,000
Jane A. Batts
President – Women's Division
$
216,300
Morris D. Mitchell
President – Men's Division
$
220,500
2
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.
TANDY BRANDS ACCESSORIES, INC.
Date: August 21, 2008
By:
/
s/ J.S.B. Jenkins
J.S.B. Jenkins
President and Chief Executive Officer
3