Summary
Marriott International, Inc. filed an 8-K report detailing an amendment to its 2002 Comprehensive Stock and Cash Incentive Plan, approved by shareholders at their annual meeting on May 6, 2005. This amendment increases the total number of authorized shares for issuance under the plan by 5 million, raising the aggregate from 80 million to 85 million shares. This represents a 6.25% increase in the equity available for employee and executive compensation.
Key Highlights
- 1Shareholder approval obtained for amendment to the 2002 Comprehensive Stock and Cash Incentive Plan.
- 2The plan amendment increases the authorized shares by 5 million.
- 3Total authorized shares under the plan are now 85 million, up from 80 million.
- 4This represents a 6.25% increase in shares available for issuance.
- 5The Board of Directors had previously approved the amendment on February 3, 2005.
- 6The amendment is effective as of May 6, 2005.
- 7The amended plan document is filed as an exhibit to this report.