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STATES</font></div>
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AND EXCHANGE COMMISSION</font></div>
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D.C. 20549</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 18pt; FONT-FAMILY: Times New Roman">FORM
8-K</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">CURRENT
REPORT</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">PURSUANT
TO SECTION 13 OR 15(d) OF THE</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">SECURITIES
EXCHANGE ACT OF 1934</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Date of
Report (date of earliest event reported): <font style="DISPLAY: inline; TEXT-DECORATION: underline">June 22,
2009</font></font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 24pt; FONT-FAMILY: Times New Roman">SAKS
INCORPORATED</font></div>
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              </td>
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                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman; TEXT-DECORATION: underline"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman; TEXT-DECORATION: underline"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1-13113</font></font></font></div>
              </td>
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                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman; TEXT-DECORATION: underline"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman; TEXT-DECORATION: underline"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">62-0331040</font></font></font></div>
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                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(State
      or Other Jurisdiction</font></div>
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                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(Commission
      File Number)</font></div>
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      Employer</font></div>
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                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">of
      Incorporation)</font></div>
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              <td valign="top" width="27%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
              <td valign="top" width="27%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Identification
      No.)</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font size="+0"><font size="+0"><font style="DISPLAY: inline; FONT-SIZE: 10pt; TEXT-DECORATION: underline">12 East
49th </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; TEXT-DECORATION: underline">Street, New
York, New York 10017</font></font></font></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(Address
of principal executive office and zip code)</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-DECORATION: underline">(212)
940-5305</font></font></font></div>
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telephone number, including area code)</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Check the
appropriate box if the Form 8-K filing is intended to simultaneously satisfy the
filing obligation of the registrant under any of the following
provisions:</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">[&#160;&#160;]
Written communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">[&#160;&#160;]
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)</font></div>
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act
(17 CFR 240.14d-2(b))</font></div>
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act
(17 CFR 240.13e-4(c))</font></div>
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              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Item
      5.02.</font></div>
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              <div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Departure
      of Directors or Certain Officers; Election of Directors; Appointment of
      Certain Officers; Compensatory Arrangements of Certain
      Officers.</font></div>
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    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On June
22, 2009, Saks Incorporated (the &#8220;Company&#8221;) received the report of the
independent inspectors of election indicating that at the Annual Meeting of
Shareholders of the Company, held on June 3, 2009, the Company&#8217;s shareholders
approved the Saks Incorporated 2009 Long-Term Incentive Plan (the
&#8220;LTIP&#8221;).&#160;&#160;The LTIP was previously approved by the Company&#8217;s Board of
Directors (the &#8220;Board&#8221;), subject to shareholder approval.&#160;&#160;As a result
of the approval by the Company&#8217;s shareholders, the LTIP became effective as of
June 3, 2009.&#160;&#160;The term of the LTIP will end on the earlier to occur
of: (i) the date the LTIP is terminated by the Board in accordance with its
terms; or (ii) June 2, 2019.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The LTIP
is an omnibus plan that provides for a variety of types of awards to maintain
flexibility. The LTIP permits the granting of, among other things, (i)
non-qualified stock options, or NQSOs, (ii) incentive stock options, or ISOs,
within the meaning of Section 422 of the Internal Revenue Code of 1986, as
amended (the &#8220;Code&#8221;), (iii) stock appreciation rights, or SARs, (iv) restricted
stock, (v) restricted stock units, or RSUs, (vi) performance awards, (vii)
deferred stock awards, and (viii) other stock-based awards.&#160;&#160;The LTIP
is designed to provide for awards that qualify as &#8220;qualified performance-based
compensation&#8221; within the meaning of Section 162(m) of the Code in order to
ensure deductibility by the Company of the associated compensation expense of
those awards for U.S. federal income tax purposes.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The total
number of shares of the Company&#8217;s common stock available for awards under the
LTIP (subject to certain anti-dilution provisions of the LTIP) is 5,700,000 plus
shares subject to awards under prior plans that are forfeited after March 31,
2009.&#160;&#160;Through June 10, 2009, 445,391 shares were added to the LTIP as
a result of such forfeitures.&#160;&#160;Therefore, as of that date, a total of
6,145,391 shares were available for awards under the LTIP.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The LTIP
is administered by the Human Resources and Compensation Committee of the Board
(the &#8220;HRCC&#8221;).&#160;&#160;Except as otherwise provided in the LTIP, the HRCC has
authority to select recipients of awards, determine the types, amounts, terms
and conditions of awards, adopt, alter and repeal administrative rules and
guidelines governing the LTIP and make all determinations necessary or advisable
for the administration of the LTIP.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The LTIP
is filed as Exhibit 4.4 to the Company&#8217;s Registration Statement on Form S-8
(File No. 333-159952), filed with the Securities and Exchange Commission on June
12, 2009, which is incorporated herein by this reference.&#160;&#160;The
foregoing description of the LTIP is qualified in its entirety by reference to
the full text of the LTIP.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">SIGNATURE</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>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></div>
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    <div>
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                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Dated:&#160;&#160;June
      23, 2009</font></div>
                </td>
                <td colspan="3" valign="top" width="35%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">SAKS
      INCORPORATED</font></div>
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                <td valign="top" width="52%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td valign="top" width="5%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td colspan="2" valign="top" width="43%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
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              <tr>
                <td valign="top" width="52%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td valign="top" width="5%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td colspan="2" valign="top" width="43%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
              </tr>
              <tr>
                <td valign="top" width="52%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td valign="top" width="5%" style="PADDING-BOTTOM: 2px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">By:</font></div>
                </td>
                <td valign="top" width="21%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">/s/
      Ann Robertson</font></font></td>
                <td valign="top" width="22%" style="PADDING-BOTTOM: 2px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
                </td>
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              <tr>
                <td valign="top" width="52%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td valign="top" width="5%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Name:</font></div>
                </td>
                <td colspan="2" valign="top" width="43%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Ann
      Robertson</font></div>
                </td>
              </tr>
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                <td valign="top" width="52%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td valign="top" width="5%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Title:</font></div>
                </td>
                <td colspan="2" valign="top" width="43%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Vice
      President and Secretary</font></div>
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{"company-data": {"conformed-name": "SAKS INC", "cik": "0000812900", "assigned-sic": "5311", "irs-number": "620331040", "state-of-incorporation": "TN", "fiscal-year-end": "0203"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-13113", "film-number": "09905591"}, "business-address": {"street1": "12 EAST 49TH STREET", "city": "NEW YORK", "state": "NY", "zip": "10017", "phone": "(212) 940-5305"}, "mail-address": {"street1": "12 EAST 49TH STREET", "city": "NEW YORK", "state": "NY", "zip": "10017"}, "former-company": {"former-conformed-name": "PROFFITTS INC", "date-changed": "19920703"}}
saksincorporated8kjune09.htm
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):
June 22,
2009
SAKS
INCORPORATED
Tennessee
1-13113
62-0331040
(State
      or Other Jurisdiction
(Commission
      File Number)
(I.R.S.
      Employer
of
      Incorporation)
Identification
      No.)
12 East
49th
Street, New
York, New York 10017
(Address
of principal executive office and zip code)
(212)
940-5305
(Registrant's
telephone number, including area code)
Check the
appropriate box 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.
On June
22, 2009, Saks Incorporated (the "Company") received the report of the
independent inspectors of election indicating that at the Annual Meeting of
Shareholders of the Company, held on June 3, 2009, the Company's shareholders
approved the Saks Incorporated 2009 Long-Term Incentive Plan (the
"LTIP").  The LTIP was previously approved by the Company's Board of
Directors (the "Board"), subject to shareholder approval.  As a result
of the approval by the Company's shareholders, the LTIP became effective as of
June 3, 2009.  The term of the LTIP will end on the earlier to occur
of: (i) the date the LTIP is terminated by the Board in accordance with its
terms; or (ii) June 2, 2019.
The LTIP
is an omnibus plan that provides for a variety of types of awards to maintain
flexibility. The LTIP permits the granting of, among other things, (i)
non-qualified stock options, or NQSOs, (ii) incentive stock options, or ISOs,
within the meaning of Section 422 of the Internal Revenue Code of 1986, as
amended (the "Code"), (iii) stock appreciation rights, or SARs, (iv) restricted
stock, (v) restricted stock units, or RSUs, (vi) performance awards, (vii)
deferred stock awards, and (viii) other stock-based awards.  The LTIP
is designed to provide for awards that qualify as "qualified performance-based
compensation" within the meaning of Section 162(m) of the Code in order to
ensure deductibility by the Company of the associated compensation expense of
those awards for U.S. federal income tax purposes.
The total
number of shares of the Company's common stock available for awards under the
LTIP (subject to certain anti-dilution provisions of the LTIP) is 5,700,000 plus
shares subject to awards under prior plans that are forfeited after March 31,
2009.  Through June 10, 2009, 445,391 shares were added to the LTIP as
a result of such forfeitures.  Therefore, as of that date, a total of
6,145,391 shares were available for awards under the LTIP.
The LTIP
is administered by the Human Resources and Compensation Committee of the Board
(the "HRCC").  Except as otherwise provided in the LTIP, the HRCC has
authority to select recipients of awards, determine the types, amounts, terms
and conditions of awards, adopt, alter and repeal administrative rules and
guidelines governing the LTIP and make all determinations necessary or advisable
for the administration of the LTIP.
The LTIP
is filed as Exhibit 4.4 to the Company's Registration Statement on Form S-8
(File No. 333-159952), filed with the Securities and Exchange Commission on June
12, 2009, which is incorporated herein by this reference.  The
foregoing description of the LTIP is qualified in its entirety by reference to
the full text of the LTIP.
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.
Dated:  June
      23, 2009
SAKS
      INCORPORATED
By:
/s/
      Ann Robertson
Name:
Ann
      Robertson
Title:
Vice
      President and Secretary