Summary
Fiserv Inc. (FISV) filed a Form 8-K on March 31, 2005, reporting the approval of its Stock Option and Restricted Stock Plan, as Amended (the "Plan"), by its Board of Directors and Compensation Committee on February 16, 2005. The company will utilize a standardized form of Employee Restricted Stock Agreement for grants made under this updated plan to employees, including executive officers. This filing primarily serves to document the formal approval and standardization of equity-based compensation for key personnel.
Key Highlights
- 1Fiserv's Board of Directors and Compensation Committee approved an Amended Stock Option and Restricted Stock Plan on February 16, 2005.
- 2A standardized form of Employee Restricted Stock Agreement has been approved for use.
- 3This agreement will be used for granting restricted stock to employees, including executive officers.
- 4The approval signifies a formalization and standardization of Fiserv's equity compensation strategy.
- 5The filing is primarily informational regarding executive compensation plan updates.
Frequently Asked Questions
The main purpose of this 8-K filing is to report the approval of Fiserv's amended Stock Option and Restricted Stock Plan and the standardized Employee Restricted Stock Agreement by the Board of Directors and Compensation Committee. This action formalizes the company's approach to granting equity compensation.
Restricted stock grants made under the new Employee Restricted Stock Agreement will be for employees of Fiserv, including its executive officers.
The approvals by the Board of Directors and the Compensation Committee were made on February 16, 2005.
A copy of the Form of Employee Restricted Stock Agreement is incorporated as Exhibit 10.1 and was filed with this Form 8-K.