Summary
This 8-K filing from priceline.com Incorporated (now Booking Holdings Inc.) reports on a material definitive agreement regarding compensation for its Board Chairperson. Specifically, it details the authorized annual compensation for the Chairperson, which includes a $25,000 annual fee and an annual grant of 8,000 stock options vesting over three years. This compensation is in addition to the standard director fees. The filing also confirms that Ralph Bahna, the then-Chairman of the Board, received this grant of 8,000 stock options on April 19, 2005, and will be paid the $25,000 annual fee, which is retroactive to January 1, 2005. This action pertains to the governance and executive compensation structure of the company.
Key Highlights
- 1Priceline.com Incorporated authorized new annual compensation for its Board Chairperson.
- 2The Chairperson will receive an annual fee of $25,000.
- 3An annual grant of 8,000 stock options will be provided to the Chairperson.
- 4These stock options will vest over a three-year period.
- 5The compensation is in addition to fees received for service as a regular director.
- 6Ralph Bahna, as Chairman of the Board, received the initial grant of 8,000 stock options on April 19, 2005.
- 7The annual fee for the Chairperson is retroactive to January 1, 2005.