Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On
Pursuant to the Agreement, one third of the PRSUs may vest at the end of three separate performance periods spread over the three years following the date of grant based on the Company's relative total shareholder return as compared to a peer group of companies. 17,009 is the maximum number of PRSUs that may be earned, which is 150% of the target number. No number of PRSUs is guaranteed to vest and the actual number of PRSUs that will vest at the end of each performance period may be anywhere from zero to 17,009 depending on the Company's relative total shareholder return.
The foregoing summary of the PRSUs is qualified in its entirety by reference to the full text of the Grant Notice and Agreement, which are attached hereto as Exhibit 10.1 and incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits 10.1 Performance Based Restricted Stock UnitGrant Notice and Performance Based Restricted Stock Unit Agreement. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document).
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