Summary
Quanta Services, Inc. (PWR) filed an 8-K on March 13, 2019, detailing the adoption of its 2019 annual and long-term incentive plans by the Compensation Committee of its Board of Directors on March 8, 2019. These plans are designed to incentivize employees, including executive officers, through cash, restricted stock units, and performance units. The incentive compensation is tied to specific performance metrics, indicating a focus on aligning executive and employee rewards with key business objectives. Investors should note that the annual performance metrics for 2019 include EBITDA, EBITDA margin, and safety. For the longer term, the performance period from January 1, 2019, to December 31, 2021, will be measured by return on invested capital, total shareholder return, and capital efficiency. This structured approach to compensation suggests management's commitment to driving financial and operational performance.
Key Highlights
- 1Adoption of 2019 Annual Incentive Plan for corporate employees.
- 2Adoption of 2019 Long-Term Incentive Plan for senior leadership.
- 3Adoption of 2019 Discretionary Plan for all employees.
- 4Incentive compensation will be payable in cash, restricted stock units, and/or performance units.
- 52019 annual performance metrics include EBITDA, EBITDA margin, and safety.
- 6Long-term incentive performance metrics (2019-2021) include return on invested capital, total shareholder return, and capital efficiency.
- 7Equity-based awards will be granted under the Quanta Services, Inc. 2011 Omnibus Equity Incentive Plan or other approved plans.