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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): May 13, 2009</B>

<P align="center">

<P align="center" style="font-size: 24pt"><B>A.C. Moore Arts & Crafts, Inc.<BR></B>
<FONT style="font-size: 10pt">(Exact name of registrant as specified in its charter)
</FONT>

<TABLE border="0" width="100%" cellspacing="0" cellpadding="0" style="font-size: 10pt; text-align: center">
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    <TD width="32%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="33%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="32%">&nbsp;</TD>
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    <TD style="border-bottom: 1px solid #000000"><B>Pennsylvania</B></TD>
    <TD>&nbsp;</TD>
    <TD style="border-bottom: 1px solid #000000"><B>000-23157</B></TD>
    <TD>&nbsp;</TD>
    <TD style="border-bottom: 1px solid #000000"><B>22-3527763</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>
</TR>
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    <TD width="49%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="49%">&nbsp;</TD>
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    <TD style="border-bottom: 1px solid #000000"><B>130 A.C. Moore Drive, Berlin, NJ<BR></B></TD>
    <TD>&nbsp;</TD>
    <TD style="border-bottom: 1px solid #000000"><B>08009</B></TD>
</TR>
<TR valign="top">
    <TD>(Address of Principal Executive Offices)</TD>
    <TD>&nbsp;</TD>
    <TD>(Zip Code)</TD>
</TR>
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<P align="center" style="font-size: 10pt">Registrant&#146;s telephone number, including area code: <B>(856) 768-4930</B>


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    <TD nowrap style="border-bottom: 1px solid #000000"><B>Not Applicable<BR></B></TD>
</TR>
<TR>
    <TD nowrap>(Former name or former address if changed since last report.)</TD>
</TR>
</TABLE>

<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:

<P align="left" style="font-size: 10pt">
<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="left" 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="left" style="font-size: 10pt">On May&nbsp;13, 2009, A.C. Moore Arts &#038; Crafts, Inc. (the &#147;<I>Company</I>&#148;) entered into an employment letter (the &#147;<I>letter
agreement</I>&#148;) with David Stern to serve as the Company&#146;s Executive Vice President and Chief Financial Officer. His start
date with the Company is June&nbsp;8, 2009. The material terms of the letter agreement with Mr.&nbsp;Stern are described below.


<P align="left" style="font-size: 10pt">Mr.&nbsp;Stern, 42, has served as Divisional Vice President, Financial Planning and Analysis of Coldwater Creek Inc., the
Nasdaq-traded specialty retailer, since October&nbsp;2008. He joined Coldwater Creek as its Divisional Vice President,
Corporate Controller in June&nbsp;2007. From May&nbsp;2000 through June&nbsp;2007, Mr.&nbsp;Stern served as Chief Financial Officer of
Petro Services, Inc., a $500&nbsp;million privately held convenience store retailer with approximately 150 locations.


<P align="left" style="font-size: 10pt">Pursuant to the letter agreement, Mr.&nbsp;Stern will receive a base salary of $275,000 per year. On the start date, Mr.
Stern will receive a cash sign-on lump sum retention bonus of $75,000 (the &#147;<I>sign-on bonus</I>&#148;). Mr.&nbsp;Stern will earn
one-twenty fourth of the sign-on bonus for each month after receipt that he remains employed by the Company. If the
Company terminates his employment for <I>cause </I>(as defined in the letter agreement), Mr.&nbsp;Stern must repay the unearned
portions of the sign-on bonus. If Mr.&nbsp;Stern terminates his employment for <I>good reason </I>(as defined in the letter
agreement), he will be deemed to have earned one-hundred percent of the sign-on bonus. On his start date, Mr.&nbsp;Stern
will be granted 35,000 shares of performance accelerated restricted stock and 26,000 stock-settled stock appreciation
rights under the Company&#146;s 2007 Stock Incentive Plan.


<P align="left" style="font-size: 10pt">If A.C. Moore terminates his employment without cause, Mr.&nbsp;Stern is entitled to receive base salary and insurance
benefits through the sixth-month anniversary of the termination date plus <I>pro rata bonus </I>(as defined in the letter
agreement). In the event Mr.&nbsp;Stern remains unemployed after six months from his termination date, he will receive an
additional month of severance and insurance benefits for each month he remains unemployed, up to a maximum of six
additional months. Mr.&nbsp;Stern is required to actively seek employment after the termination date in order to receive
the additional monthly severance.


<P align="left" style="font-size: 10pt">The letter agreement provides for an automatic one-year term from the date of a <I>change of control </I>(as defined in the
letter agreement), during which Mr.&nbsp;Stern is guaranteed a base salary equal to 12 times his highest monthly base salary
during the 12&nbsp;months preceding the change of control, as well as an annual cash bonus at least equal to the amount
received for the last full calendar year. If A.C. Moore terminates his employment other than for cause, death or
disability or Mr.&nbsp;Stern terminates for good reason, Mr.&nbsp;Stern is entitled to receive a lump sum cash payment equal to
the aggregate of base salary through the date of termination, pro rata bonus and twelve months of base salary. Mr.
Stern will also receive insurance benefits during this period. For termination due to death or disability, he or his
estate will receive a cash lump sum payment equal to the aggregate of his base salary through the date of death or
disability and his pro rata bonus. If A.C. Moore terminates for cause or Mr.&nbsp;Stern terminates without good reason
following a change of control, he is entitled to base salary through the date of termination. The letter agreement
provides that Mr.&nbsp;Stern&#146;s options, stock appreciation rights and restricted stock vest immediately upon a change of
control. If Mr.&nbsp;Stern&#146;s employment is terminated without cause following a change in control, he will have until the
earlier of the original option or stock appreciation right term or 18&nbsp;months after the termination date to exercise the
options or stock appreciation rights.


<P align="left" style="font-size: 10pt">Mr.&nbsp;Stern&#146; letter agreement contains restrictive covenants relating to confidentiality, non-competition and
non-solicitation. The non-competition and non-solicitation prohibition is for 12&nbsp;months following the termination of
his employment.

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<P align="left" style="font-size: 10pt"><B>Item&nbsp;7.01 Regulation&nbsp;FD Disclosure.</B>


<P align="left" style="font-size: 10pt">On May&nbsp;18, 2009, the Company issued the press release announcing Mr.&nbsp;Stern&#146;s appointment. A copy of the press release
is furnished as Exhibit&nbsp;99.1 to this Current Report on Form 8-K.


<P align="left" style="font-size: 10pt"><B>Item&nbsp;9.01 Financial Statements and Exhibits.</B>


<P align="left" style="font-size: 10pt">(d)&nbsp;Exhibits.

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    <TD nowrap align="left" style="border-bottom: 1px solid #000000">Exhibit No.</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000">Description</TD>
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    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">99.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Press release dated May&nbsp;18, 2009.</TD>
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<P align="left" style="font-size: 10pt"><B>SIGNATURE</B>


<P align="left" 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.

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    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left"><B>A.C. MOORE ARTS &#038; CRAFTS, INC.</B></TD>
</TR>

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    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"></TD>
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<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Date: May&nbsp;18, 2009
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">By: <u>/s/ Amy Rhoades</u></TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Name: Amy Rhoades</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Title: Vice President and General Counsel</TD>
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<P align="center" style="font-size: 10pt"><U><B>EXHIBIT INDEX</B></U>


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    <TD nowrap align="left" style="border-bottom: 1px solid #000000">Exhibit No.</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000">Description</TD>
</TR>

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<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">99.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Press release dated May&nbsp;18, 2009.</TD>
</TR>
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Form 8-K
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): May 13, 2009
A.C. Moore Arts & Crafts, Inc.
(Exact name of registrant as specified in its charter)
Pennsylvania
000-23157
22-3527763
(State or other Jurisdiction of Incorporation)
(Commission File Number)
(IRS Employer Identification No.)
130 A.C. Moore Drive, Berlin, NJ
08009
(Address of Principal Executive Offices)
(Zip Code)
Registrant's telephone number, including area code:
(856) 768-4930
Not Applicable
(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 May 13, 2009, A.C. Moore Arts & Crafts, Inc. (the "
Company
") entered into an employment letter (the "
letter
agreement
") with David Stern to serve as the Company's Executive Vice President and Chief Financial Officer. His start
date with the Company is June 8, 2009. The material terms of the letter agreement with Mr. Stern are described below.
Mr. Stern, 42, has served as Divisional Vice President, Financial Planning and Analysis of Coldwater Creek Inc., the
Nasdaq-traded specialty retailer, since October 2008. He joined Coldwater Creek as its Divisional Vice President,
Corporate Controller in June 2007. From May 2000 through June 2007, Mr. Stern served as Chief Financial Officer of
Petro Services, Inc., a $500 million privately held convenience store retailer with approximately 150 locations.
Pursuant to the letter agreement, Mr. Stern will receive a base salary of $275,000 per year. On the start date, Mr.
Stern will receive a cash sign-on lump sum retention bonus of $75,000 (the "
sign-on bonus
"). Mr. Stern will earn
one-twenty fourth of the sign-on bonus for each month after receipt that he remains employed by the Company. If the
Company terminates his employment for
cause
(as defined in the letter agreement), Mr. Stern must repay the unearned
portions of the sign-on bonus. If Mr. Stern terminates his employment for
good reason
(as defined in the letter
agreement), he will be deemed to have earned one-hundred percent of the sign-on bonus. On his start date, Mr. Stern
will be granted 35,000 shares of performance accelerated restricted stock and 26,000 stock-settled stock appreciation
rights under the Company's 2007 Stock Incentive Plan.
If A.C. Moore terminates his employment without cause, Mr. Stern is entitled to receive base salary and insurance
benefits through the sixth-month anniversary of the termination date plus
pro rata bonus
(as defined in the letter
agreement). In the event Mr. Stern remains unemployed after six months from his termination date, he will receive an
additional month of severance and insurance benefits for each month he remains unemployed, up to a maximum of six
additional months. Mr. Stern is required to actively seek employment after the termination date in order to receive
the additional monthly severance.
The letter agreement provides for an automatic one-year term from the date of a
change of control
(as defined in the
letter agreement), during which Mr. Stern is guaranteed a base salary equal to 12 times his highest monthly base salary
during the 12 months preceding the change of control, as well as an annual cash bonus at least equal to the amount
received for the last full calendar year. If A.C. Moore terminates his employment other than for cause, death or
disability or Mr. Stern terminates for good reason, Mr. Stern is entitled to receive a lump sum cash payment equal to
the aggregate of base salary through the date of termination, pro rata bonus and twelve months of base salary. Mr.
Stern will also receive insurance benefits during this period. For termination due to death or disability, he or his
estate will receive a cash lump sum payment equal to the aggregate of his base salary through the date of death or
disability and his pro rata bonus. If A.C. Moore terminates for cause or Mr. Stern terminates without good reason
following a change of control, he is entitled to base salary through the date of termination. The letter agreement
provides that Mr. Stern's options, stock appreciation rights and restricted stock vest immediately upon a change of
control. If Mr. Stern's employment is terminated without cause following a change in control, he will have until the
earlier of the original option or stock appreciation right term or 18 months after the termination date to exercise the
options or stock appreciation rights.
Mr. Stern' letter agreement contains restrictive covenants relating to confidentiality, non-competition and
non-solicitation. The non-competition and non-solicitation prohibition is for 12 months following the termination of
his employment.
Item 7.01 Regulation FD Disclosure.
On May 18, 2009, the Company issued the press release announcing Mr. Stern's appointment. A copy of the press release
is furnished as Exhibit 99.1 to this Current Report on Form 8-K.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
Exhibit No.
Description
99.1
Press release dated May 18, 2009.
SIGNATURE
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.
A.C. MOORE ARTS & CRAFTS, INC.
Date: May 18, 2009
By:
/s/ Amy Rhoades
Name: Amy Rhoades
Title: Vice President and General Counsel
EXHIBIT INDEX
Exhibit No.
Description
99.1
Press release dated May 18, 2009.