Summary
This Form 8-K/A filing from Nasdaq, Inc. serves as an amendment to a previous filing, providing updated details on the compensation package for Ann M. Dennison, who is set to become Senior Vice President, Controller, and Principal Accounting Officer effective April 1, 2016. The amendment clarifies compensation details that were not finalized at the time of the initial disclosure. Key details include Ms. Dennison's base salary, a sign-on bonus, and eligibility for annual cash incentives tied to performance. Additionally, the filing outlines her initial equity grant, comprising restricted stock units (RSUs) and performance share units (PSUs) with specific vesting schedules, as well as her anticipated annual equity grants starting in 2016. This information is crucial for investors assessing the company's executive compensation structure and potential future dilution from equity awards.
Key Highlights
- 1Amendment to a previous 8-K filing concerning executive appointments.
- 2Provides finalized compensation details for Ann M. Dennison, incoming Senior Vice President, Controller, and Principal Accounting Officer.
- 3Ms. Dennison's annual base salary is set at $375,000.
- 4She will receive a sign-on bonus of $150,000.
- 5Eligible for an annual cash incentive award with a target value of $375,000, with potential payouts ranging from 0% to 200% based on performance.
- 6Received an initial equity grant valued at $200,000 (50% RSUs, 50% PSUs) with performance-based vesting.
- 7Beginning in 2016, Ms. Dennison is eligible for annual equity grants with a target value of at least $300,000.