Summary
CSX Corporation (CSX) filed an 8-K report on August 7, 2018, detailing a retention award granted to its Executive Vice President — Chief Sales & Marketing Officer, Mark K. Wallace. The award consists of 30,765 time-based restricted stock units (RSUs) that are set to vest on August 2, 2021, three years from the grant date. This action by the Compensation Committee of the Board of Directors is aimed at retaining key executive talent within the company.
Key Highlights
- 1CSX Corp granted a retention award to Mark K. Wallace, EVP - Chief Sales & Marketing Officer.
- 2The award comprises 30,765 time-based restricted stock units (RSUs).
- 3Each RSU is convertible into one share of CSX common stock upon vesting.
- 4The RSUs will vest on August 2, 2021, marking a three-year vesting period.
- 5This retention award was approved by the Compensation Committee of the Board of Directors.
- 6The grant is intended to incentivize and retain a key executive.