Summary
This 8-K filing from Motorola, Inc. (MSI) on April 10, 2007, reports on the compensation awarded to its President and Chief Operating Officer, Gregory Q. Brown. Specifically, on April 5, 2007, Mr. Brown received a grant of 400,000 stock options and 350,000 restricted stock units (RSUs). This executive compensation package is significant as it reflects an investment in key leadership and aligns their interests with shareholders through equity awards. The stock options vest over four years, starting in April 2008, while the RSUs have a longer vesting schedule, with 50% vesting at 30 months and the remainder at 60 months post-grant. Investors should note these vesting terms as they indicate the company's strategy for retaining and incentivizing its top executives over the medium to long term. The details of these awards reference previously filed standard award agreements, indicating a consistent approach to executive compensation.
Key Highlights
- 1Motorola, Inc. awarded equity compensation to Gregory Q. Brown, President and COO, on April 5, 2007.
- 2The award consists of 400,000 stock options.
- 3The award also includes 350,000 restricted stock units (RSUs).
- 4Stock options vest in four equal annual installments, beginning April 5, 2008.
- 5Restricted stock units vest in two tranches: 50% at 30 months and 50% at 60 months from the grant date.
- 6The grants are made in accordance with the company's standard award agreements previously filed.