8-KMaterial AgreementsExhibits & Filings

ATI INC 8-K Report, Material Agreement (Aug 5, 2008)

Filed August 5, 2008For Securities:ATI

Summary

Allegheny Technologies Incorporated (ATI) filed an 8-K on August 5, 2008, reporting a significant update to its non-employee director compensation program, effective August 1, 2008. The board of directors approved a revised compensation structure that includes a mix of cash and restricted stock for its non-employee directors. This adjustment to director compensation is a key event for investors to note as it signals the company's approach to retaining and incentivizing its board members. The compensation package is designed to align director interests with shareholder value through equity awards, while also providing cash retainers for their services. Investors should review the detailed compensation structure to understand the company's governance and executive compensation practices.

Key Highlights

  • 1Revised non-employee director compensation program adopted by the Board of Directors.
  • 2Effective date of the new compensation program is August 1, 2008.
  • 3Annual retainer for non-employee directors includes $60,000 in cash and $100,000 in restricted stock.
  • 4Board meeting fees are set at $2,500 per meeting day.
  • 5Committee meeting fees are set at $1,500 per meeting.
  • 6An additional annual cash retainer of $10,000 is provided to committee chairs.
  • 7Non-employee directors also received a supplemental restricted stock grant of $25,000 as of August 1, 2008.

Frequently Asked Questions

The primary purpose of this 8-K filing is to announce the adoption of a revised compensation program for Allegheny Technologies Incorporated's non-employee directors, effective August 1, 2008.

Non-employee directors will receive an annual retainer of $60,000 cash and $100,000 in restricted stock, along with per-meeting fees for board and committee participation. Committee chairs will receive an additional annual cash retainer.

No, the amounts payable were approved by the Board but are not set forth in any written agreements between the non-employee directors and the Company.

Non-employee directors received a supplemental grant of restricted stock valued at $25,000 as of August 1, 2008.