SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
D.C.
Form
8-K
CURRENT
REPORT PURSUANT
TO
SECTION 13 OR 15(d) OF THE
SECURITIES
EXCHANGE ACT OF 1934
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Date
of report (Date of earliest event reported):
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January
22, 2007
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Tandy
Leather Factory, Inc.
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(Exact
Name of Registrant as Specified in Its
Charter)
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Delaware
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(State
or Other Jurisdiction of
Incorporation
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1-12368
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75-2543540
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(Commission
File Number)
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(IRS
Employer Identification Number)
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3847
East Loop 820 South, Fort Worth, Texas
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76119
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(Address
of Principal Executive Offices)
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(Zip
Code)
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(817)
496-4414
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(Registrant’s
Telephone Number, Including Area
Code)
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(Former
Name or Former Address, if Changed Since Last
Report)
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Item
5.02. Departure of Directors or Principal Officers; Election of Directors.
On
January 22, 2007, Michael A. Markwardt notified Tandy Leather Factory, Inc.
of
his resignation from the Company’s Board of Directors, effective immediately.
Mr. Markwardt’s resignation was not due to any disagreement with the
Company.
On
January 22, 2007, the Board of Directors (the “Board”) of the Company, upon the
recommendation of the Board’s Nominating Committee, unanimously elected Mr. L.
Edward Martin, III as a director of the Company, effective January 23, 2007.
Mr.
Martin will serve as a director of the Company until the 2007 Annual Meeting
of
Stockholders of the Company or until his successor has been elected and
qualified. The Board has determined that Mr. Martin meets the independent
requirements of the American Stock Exchange. The Board has not yet determined
the committees of the Board on which Mr. Martin will serve. Mr. Martin does
not
have any relationship with the Company that would require disclosure pursuant
to
Item 404(a) of the Securities and Exchange Commission Regulation S-K. Mr. Martin
does not have a direct or indirect interest in any existing or currently
proposed transaction to which the Company is or may become a party.
Mr.
Martin currently serves as the Executive Vice President and Chief Operating
Officer of The Dunlap Company, a private company operating a chain of 40
department stores in 8 states. He has held his current position since 2000.
He
joined The Dunlap Company in 1998 as Senior Vice President and General Counsel.
From 1993 to 1998, Mr. Martin was an associate with Kelly, Hart & Hallman,
P.C., a Fort Worth based law firm. He earned a law degree from the University
of
Texas School of Law in Austin, Texas in 1993. Mr. Martin is a Board Member
of
the Texas Retailers Association and a member of the State Bar of Texas. He
also
serves as a Board and Executive Committee Member of the Boys and Girls Clubs
of
Greater Fort Worth and is a member of the Young Presidents Organization.
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.
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TANDY
LEATHER FACTORY, INC.
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Date:
January 23, 2007
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BY:
/s/
Ronald C. Morgan
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Ronald
C. Morgan, Chief Executive Officer
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and
President
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