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<p align="center"><font face="Times New Roman" size="2">UNITED STATES<br>SECURITIES
 AND EXCHANGE COMMISSION<br>WASHINGTON, D.C. 20549<br>______________________</font></p>
<p align="center"><font face="Times New Roman" size="2">FORM 8-K</font></p>
<p align="center"><font face="Times New Roman" size="2">CURRENT REPORT<br>Pursuant
 to Section 13 or 15(d) of the<br>Securities Exchange Act of 1934</font></p>
<p align="center"><font face="Times New Roman" size="2">Date of report (Date of earliest
 event reported): &#160;&#160;<u>October 16, 2008</u></font></p>
<table border="0" cellpadding="0" cellspacing="0" width="100%">
<tr>
<td valign="bottom" align="center"><font face="Times New Roman" size="2">PARK ELECTROCHEMICAL
 CORP.</font></td>
</tr>
<tr>
<td valign="bottom"><hr size="1" color="#000000" noshade></td>
</tr>
<tr>
<td valign="bottom" align="center"><font face="Times New Roman" size="2">(Exact Name
 of Registrant as Specified in Charter)</font></td>
</tr>
</table>
<br>
<table border="0" cellpadding="0" cellspacing="0" width="100%">
<tr>
<td valign="bottom" align="center"><font face="Times New Roman" size="2">New York
</font></td>
<td><font face="Times New Roman" size="2">&#160;</font></td>
<td valign="bottom" align="center"><font face="Times New Roman" size="2">1-4415</font>
</td>
<td><font face="Times New Roman" size="2">&#160;</font></td>
<td valign="bottom" align="center"><font face="Times New Roman" size="2">11-1734643
</font></td>
</tr>
<tr>
<td valign="bottom" colspan="5"><hr size="1" color="#000000" noshade></td>
</tr>
<tr>
<td valign="bottom" align="center"><font face="Times New Roman" size="2">(State or
 Other Jurisdiction of Incorporation)</font></td>
<td><font face="Times New Roman" size="2">&#160;</font></td>
<td valign="bottom" align="center"><font face="Times New Roman" size="2">(Commission
 File Number)</font></td>
<td><font face="Times New Roman" size="2">&#160;</font></td>
<td valign="bottom" align="center"><font face="Times New Roman" size="2">(IRS Employer
 Identification No.)</font></td>
</tr>
<tr>
<td align="left"><font face="Times New Roman" size="2">&#160;</font></td>
<td align="left"><font face="Times New Roman" size="2">&#160;</font></td>
<td align="left"><font face="Times New Roman" size="2">&#160;</font></td>
<td align="left"><font face="Times New Roman" size="2">&#160;</font></td>
<td><font face="Times New Roman" size="2">&#160;</font></td>
</tr>
<tr>
<td valign="bottom" align="center"><font face="Times New Roman" size="2">48 South
 Service Road, Melville,</font></td>
<td><font face="Times New Roman" size="2">&#160;</font></td>
<td valign="bottom" align="center"><font face="Times New Roman" size="2">New York
</font></td>
<td><font face="Times New Roman" size="2">&#160;</font></td>
<td valign="bottom" align="center"><font face="Times New Roman" size="2">11747</font>
</td>
</tr>
<tr>
<td valign="bottom" colspan="5"><hr size="1" color="#000000" noshade></td>
</tr>
<tr>
<td valign="bottom" colspan="3" align="center"><font face="Times New Roman" size="2">
(Address of Principal Executive Offices)</font></td>
<td><font face="Times New Roman" size="2">&#160;</font></td>
<td valign="bottom" align="center"><font face="Times New Roman" size="2">(Zip Code)
</font></td>
</tr>
</table>
<br>
<table border="0" cellpadding="0" cellspacing="0" width="100%">
<tr>
<td valign="bottom" align="left"><font face="Times New Roman" size="2">Registrant&#146;s telephone number, including area code</font></td>
<td><font face="Times New Roman" size="2">&#160;</font></td>
<td valign="bottom" align="center"><font face="Times New Roman" size="2">(631) 465-3600
</font></td>
</tr>
<tr>
<td align="left"><font face="Times New Roman" size="2">&#160;</font></td>
<td align="left"><font face="Times New Roman" size="2">&#160;</font></td>
<td valign="bottom"><hr size="1" color="#000000" noshade></td>
</tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" width="100%">
<tr>
<td valign="bottom" align="center"><font face="Times New Roman" size="2">Not Applicable
</font></td>
</tr>
<tr>
<td valign="bottom"><hr size="1" color="#000000" noshade></td>
</tr>
<tr>
<td valign="bottom" align="center"><font face="Times New Roman" size="2">Former Name
 or Former Address, if Changed Since Last Report</font></td>
</tr>
</table>
<p align="justify"><font face="Times New Roman" 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:</font></p>
<table border="0" cellpadding="0" cellspacing="0" width="100%">
<tr>
<td align="left"><font face="Times New Roman" size="2">&#160;</font></td>
<td valign="bottom" align="left"><font face="Times New Roman" size="2">[&#160;&#160;&#160;]</font>
</td>
<td><font face="Times New Roman" size="2">&#160;</font></td>
<td valign="bottom" align="left"><div align="justify"><font face="Times New Roman" size="2">Written communications
 pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</font></div></td>
</tr>
<tr>
<td align="left"><font face="Times New Roman" size="2">&#160;</font></td>
<td valign="bottom" align="left"><font face="Times New Roman" size="2">[&#160;&#160;&#160;]</font>
</td>
<td><font face="Times New Roman" size="2">&#160;</font></td>
<td valign="bottom" align="left"><div align="justify"><font face="Times New Roman" size="2">Soliciting
 material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</font></div></td>
</tr>
<tr>
<td align="left"><font face="Times New Roman" size="2">&#160;</font></td>
<td valign="bottom" align="left"><font face="Times New Roman" size="2">[&#160;&#160;&#160;]</font>
</td>
<td><font face="Times New Roman" size="2">&#160;</font></td>
<td valign="bottom" align="left"><div align="justify"><font face="Times New Roman" size="2">Pre-commencement
 communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</font></div></td>
</tr>
<tr>
<td width="1%" align="left"><font face="Times New Roman" size="2">&#160;</font></td>
<td width="2%" valign="bottom" align="left"><font face="Times New Roman" size="2">[&#160;&#160;&#160;]</font></td>
<td width="1%"><font face="Times New Roman" size="2">&#160;</font></td>
<td valign="bottom" align="left"><div align="justify"><font face="Times New Roman" size="2">Pre-commencement
 communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</font></div></td>
</tr>
</table>
<br>
<PAGE>
<br>
<table border="0" cellpadding="0" cellspacing="0" width="100%">
<tr>
<td nowrap width="2%" valign="top" align="left"><font face="Times New Roman" size="2">Item 5.02</font></td>
<td width="2%"><font face="Times New Roman" size="2">&#160;</font></td>
<td valign="bottom" align="left"><div align="justify"><font face="Times New Roman" size="2">Departure
 of Directors or Certain Officers; Election of Directors; Appointment of Certain
 Officers; Compensatory Arrangements of Certain Officers.</font></div></td>
</tr>
</table>
<p align="justify"><font face="Times New Roman" size="2">Item 5.02(f)<br><br>Determination of Cash
 Bonus Awards for Fiscal Year 2008<br><br>On October 16, 2008, the Compensation Committee
 of the Board of Directors of Park Electrochemical Corp. (the &#147;Company&#148;) approved
 a cash bonus award for the Company&#146;s Chief Executive Officer identified below
 for the fiscal year ended March 2, 2008. Other compensation for fiscal year 2008
 was previously reported by the Company in the Summary Compensation Table beginning
 on page 9 of the definitive proxy statement, dated June 24, 2008, for its 2008 Annual
 Meeting of Shareholders (filed with the Securities and Exchange Commission on June
 24, 2008) (the &#147;Proxy Statement&#148;). As of the filing of the Proxy Statement, cash
 bonuses for executive officers had not been determined and, therefore, were omitted
 from the Summary Compensation Table included in the Proxy Statement. Pursuant to
 Item 5.02(f) of Form 8-K, the cash bonus award for the Company&#146;s Chief Executive
 Officer for fiscal year 2008 is set forth below, and the cash bonus awards for the
 Company&#146;s other named executive officers for fiscal year 2008 were set forth
 in Item 5.02(f) of the Company&#146;s Current Report on Form 8-K dated August 26,
 2008.</font></p>
<table border="0" cellpadding="0" cellspacing="0" width="100%">
<tr>
<td align="left"><font face="Times New Roman" size="2">&#160;</font></td>
<td align="left"><font face="Times New Roman" size="2">&#160;</font></td>
<td valign="bottom" colspan="3" align="center"><font face="Times New Roman" size="2">
Fiscal Year 2008</font></td>
</tr>
<tr>
<td valign="bottom" align="left"><font face="Times New Roman" size="2"><u>Name and
 Principal Position</u></font></td>
<td><font face="Times New Roman" size="2">&#160;</font></td>
<td nowrap valign="bottom" align="right"><font face="Times New Roman" size="2"><u>Cash Bonus
 Award</u></font></td>
<td><font face="Times New Roman" size="2">&#160;</font></td>
<td nowrap valign="bottom" align="right"><font face="Times New Roman" size="2"><u>Total Compensation</u></font></td>
</tr>
<tr bgcolor="#cceeff">
<td valign="bottom" align="left"><font face="Times New Roman" size="2">Brian E. Shore
</font></td>
<td><font face="Times New Roman" size="2">&#160;</font></td>
<td width="5%" valign="bottom" align="right"><font face="Times New Roman" size="2">$100,000</font>
</td>
<td width="5%"><font face="Times New Roman" size="2">&#160;</font></td>
<td width="5%" valign="bottom" align="right"><font face="Times New Roman" size="2">$710,261</font>
</td>
</tr>
<tr>
<td valign="bottom" align="left"><font face="Times New Roman" size="2">&#160;&#160;&#160;&#160;&#160;President
 and Chief Executive Officer</font></td>
<td><font face="Times New Roman" size="2">&#160;</font></td>
<td><font face="Times New Roman" size="2">&#160;</font></td>
<td><font face="Times New Roman" size="2">&#160;</font></td>
<td><font face="Times New Roman" size="2">&#160;</font></td>
</tr>
</table>
<p align="justify"><font face="Times New Roman" size="2">As the Company has previously reported,
 the Company&#146;s Chief Executive Officer has declined to accept the Compensation
 Committee&#146;s offer of a bonus and a salary increase each year since the Company&#146;s 2001 fiscal year. Earlier in the current fiscal year, the Company&#146;s
 Chief Executive Officer declined to accept the Compensation Committee&#146;s offer
 of a bonus for fiscal year 2008 and a salary increase for fiscal year 2009. The
 Company&#146;s Chief Executive Officer has stated that he intends to donate the
 2008 fiscal year bonus to charity.</font></p>
<p align="center"><font face="Times New Roman" size="2">- 2 -</font></p>
<PAGE>
<p align="center"><font face="Times New Roman" size="2"><u>SIGNATURE</u></font></p>
<p align="justify">&#160;&#160;&#160;&#160;&#160;<font face="Times New Roman" size="2">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></p>
<p>&#160;&#160;&#160;&#160;&#160;<font face="Times New Roman" size="2"></font></p>
<table border="0" cellpadding="0" cellspacing="0" width="100%">
<tr>
<td align="left"><font face="Times New Roman" size="2">&#160;</font></td>
<td align="left"><font face="Times New Roman" size="2">&#160;</font></td>
<td align="left"><font face="Times New Roman" size="2">&#160;</font></td>
<td align="left"><font face="Times New Roman" size="2">&#160;</font></td>
<td  colspan="2" align="left" nowrap><font face="Times New Roman" size="2">PARK ELECTROCHEMICAL
 CORP.</font></td>
</tr>

<tr>
<td align="left"><font face="Times New Roman" size="2">&#160;</font></td>
<td align="left"><font face="Times New Roman" size="2">&#160;</font></td>
<td align="left"><font face="Times New Roman" size="2">&#160;</font></td>
<td align="left"><font face="Times New Roman" size="2">&#160;</font></td>
<td align="left"><font face="Times New Roman" size="2">&#160;</font></td>
<td align="left"><font face="Times New Roman" size="2">&#160;</font></td>
</tr>
<tr>
<td valign="bottom" align="left"><font face="Times New Roman" size="2">Date:&#160;&#160;October 22, 2008</font></td>
<td><font face="Times New Roman" size="2">&#160;</font></td>
<td valign="bottom" align="left"><font face="Times New Roman" size="2">By:</font>
</td>
<td><font face="Times New Roman" size="2">&#160;</font></td>
<td valign="bottom" colspan="3" align="left"><font face="Times New Roman" size="2">&#160;<u>/s/&#160;&#160;&#160;Stephen E. Gilhuley</u></font></td>
</tr>
<tr>
<td align="left"><font face="Times New Roman" size="2">&#160;</font></td>
<td align="left"><font face="Times New Roman" size="2">&#160;</font></td>
<td align="left"><font face="Times New Roman" size="2">&#160;</font></td>
<td align="left"><font face="Times New Roman" size="2">&#160;</font></td>
<td valign="bottom" align="left"><font face="Times New Roman" size="2">Name:</font>
</td>
<td valign="bottom" align="left"><font face="Times New Roman" size="2">Stephen E. Gilhuley</font></td>
</tr>
<tr>
<td align="left"><font face="Times New Roman" size="2">&#160;</font></td>
<td align="left"><font face="Times New Roman" size="2">&#160;</font></td>
<td width="1%" align="left"><font face="Times New Roman" size="2">&#160;</font></td>
<td width="1%" align="left"><font face="Times New Roman" size="2">&#160;</font></td>
<td width="2%" valign="bottom" align="left"><font face="Times New Roman" size="2">Title:</font></td>
<td nowrap width="3%" valign="bottom" align="left"><font face="Times New Roman" size="2">Executive
 Vice President, Secretary</font></td>
</tr>
<tr>
<td align="left"><font face="Times New Roman" size="2">&#160;</font></td>
<td align="left"><font face="Times New Roman" size="2">&#160;</font></td>
<td align="left"><font face="Times New Roman" size="2">&#160;</font></td>
<td align="left"><font face="Times New Roman" size="2">&#160;</font></td>
<td align="left"><font face="Times New Roman" size="2">&#160;</font></td>
<td valign="bottom" align="left"><font face="Times New Roman" size="2">and General
 Counsel </font></td>
</tr>
</table>
<p align="center"><font face="Times New Roman" size="2">-3-</font></p>
</body>
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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):
October 16, 2008
PARK ELECTROCHEMICAL
 CORP.
(Exact Name
 of Registrant as Specified in Charter)
New York
1-4415
11-1734643
(State or
 Other Jurisdiction of Incorporation)
(Commission
 File Number)
(IRS Employer
 Identification No.)
48 South
 Service Road, Melville,
New York
11747
(Address of Principal Executive Offices)
(Zip Code)
Registrant's telephone number, including area code
(631) 465-3600
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:
[   ]
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.
Item 5.02(f)
Determination of Cash
 Bonus Awards for Fiscal Year 2008
On October 16, 2008, the Compensation Committee
 of the Board of Directors of Park Electrochemical Corp. (the "Company") approved
 a cash bonus award for the Company's Chief Executive Officer identified below
 for the fiscal year ended March 2, 2008. Other compensation for fiscal year 2008
 was previously reported by the Company in the Summary Compensation Table beginning
 on page 9 of the definitive proxy statement, dated June 24, 2008, for its 2008 Annual
 Meeting of Shareholders (filed with the Securities and Exchange Commission on June
 24, 2008) (the "Proxy Statement"). As of the filing of the Proxy Statement, cash
 bonuses for executive officers had not been determined and, therefore, were omitted
 from the Summary Compensation Table included in the Proxy Statement. Pursuant to
 Item 5.02(f) of Form 8-K, the cash bonus award for the Company's Chief Executive
 Officer for fiscal year 2008 is set forth below, and the cash bonus awards for the
 Company's other named executive officers for fiscal year 2008 were set forth
 in Item 5.02(f) of the Company's Current Report on Form 8-K dated August 26,
 2008.
Fiscal Year 2008
Name and
 Principal Position
Cash Bonus
 Award
Total Compensation
Brian E. Shore
$100,000
$710,261
President
 and Chief Executive Officer
As the Company has previously reported,
 the Company's Chief Executive Officer has declined to accept the Compensation
 Committee's offer of a bonus and a salary increase each year since the Company's 2001 fiscal year. Earlier in the current fiscal year, the Company's
 Chief Executive Officer declined to accept the Compensation Committee's offer
 of a bonus for fiscal year 2008 and a salary increase for fiscal year 2009. The
 Company's Chief Executive Officer has stated that he intends to donate the
 2008 fiscal year bonus to charity.
- 2 -
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.
PARK ELECTROCHEMICAL
 CORP.
Date:  October 22, 2008
By:
/s/   Stephen E. Gilhuley
Name:
Stephen E. Gilhuley
Title:
Executive
 Vice President, Secretary
and General
 Counsel
-3-