Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain
Officers.
On
Details of awards made to each officer are set forth below:
Long Term Target Number Incentive Restricted of Performance Stock Awards Shares Officer 1 2 Joseph Saffire, Chief Executive Officer 16,746 shares 16,746 shares David Dodman, Chief Operating Officer 2,791 shares 2,791 sharesAlexander E. Gress , Vice President, Finance, Corporate Planning, and Investor Relations 3 2,791 shares 2,791 shares (1) Vest over 5 years.
(2) No shares will be awarded if threshold performance is not achieved. Provided
threshold performance is achieved, an applicable percentage of the target number between 25% and 200% will be awarded, with 25% of the target number of shares being awarded upon threshold performance, 100% of the target number of shares being awarded upon target performance and 200% of the target number of shares being awarded upon maximum performance.
(3)
The foregoing description of the long term incentive restricted stock awards and the performance-based awards are qualified in their entirety by the terms of the forms of Long Term Incentive Restricted Stock Award Notice and Performance-Based Award Notice, which are filed as Exhibits 10.1 and 10.2 to this Current Report on Form 8-K, respectively, which exhibits are incorporated herein by reference.
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Item 9.01. Financial Statements and Exhibits.
(d) Exhibits Exhibit No. Description 10.1 Form of Long Term Incentive Restricted Stock Award Notice 10.2 Form of Performance-Based Award Notice 104 Cover Page Interactive Data File (embedded within the Inline XBRL document).
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