Summary
DOVER Corporation (DOV) filed an 8-K on February 21, 2013, reporting on annual cash bonuses awarded to its executive officers for the 2012 fiscal year. The Compensation Committee of the Board of Directors, based on performance against earnings and personal objectives set at the beginning of the year, approved these bonuses. This filing provides transparency regarding executive compensation and the company's performance metrics for the prior year.
Key Highlights
- 1DOVER Corp announced 2012 annual cash bonuses for key executive officers.
- 2Robert A. Livingston, President and CEO, received the largest bonus of $1,020,000.
- 3Other named executive officers receiving bonuses include Brad M. Cerepak ($580,000), Thomas W. Giacomini ($800,000), and William W. Spurgeon, Jr. ($690,000).
- 4Bonuses were determined based on the achievement of pre-set earnings and personal objectives for 2012.
- 5The awards were made by the Compensation Committee and approved by the independent directors.
- 6This disclosure provides insight into executive incentive structures and company performance targets for 2012.
Frequently Asked Questions
The primary purpose of this 8-K filing is to disclose the annual cash bonuses awarded to DOVER Corporation's key executive officers for the 2012 fiscal year, as determined by the Compensation Committee.
The bonus amounts were based on the percentage achievement of predetermined earnings and personal objectives that were established at the beginning of the 2012 fiscal year.
Robert A. Livingston, the President and CEO, received the highest bonus, totaling $1,020,000 for the 2012 performance year.
Yes, the bonuses for the named executive officers were awarded under the company's annual bonus plan.