Summary
AMETEK, Inc. (AME) filed a Form 8-K on September 10, 2014, primarily announcing the appointment of Gretchen W. McClain to its Board of Directors. Ms. McClain has been appointed as a Class II Director, serving until the 2017 Annual Meeting, and will function as an independent director. Her appointment is effective as of September 9, 2014. This filing also details Ms. McClain's compensation as a non-employee director. She will receive a pro-rata annual retainer of $17,500, paid quarterly, and was granted 750 shares of restricted stock and options to purchase 2,560 shares of common stock, both at an exercise price of $52.42. These equity awards will vest over four years, beginning one year from the grant date. The company also noted that a press release regarding this appointment was issued on September 10, 2014, and is attached as an exhibit.
Key Highlights
- 1Gretchen W. McClain appointed to AMETEK's Board of Directors as a Class II Director.
- 2Ms. McClain's term as a director extends until the 2017 Annual Meeting.
- 3She will serve as an independent director.
- 4Non-employee directors, including Ms. McClain, receive an annual retainer and equity awards.
- 5Ms. McClain will receive a pro-rata annual retainer of $17,500.
- 6She was granted 750 restricted shares and options for 2,560 shares at $52.42 each.
- 7Equity awards will vest over a four-year period.