8-KLeadership ChangesExhibits & Filings

ROCKWELL AUTOMATION, INC 8-K Report, Executive Changes (Feb 12, 2008)

Filed February 12, 2008For Securities:ROK

Summary

This Form 8-K filing by Rockwell Automation, Inc. (ROK) on February 11, 2008, reports on the shareholder approval of the 2008 Long-Term Incentives Plan (the "2008 Plan") on February 6, 2008. This new plan replaces the 2000 Long-Term Incentives Plan, with no further grants to be made under the older plan. The 2008 Plan allows for a variety of equity-based awards for employees, including executive officers, and is designed to incentivize long-term performance and align executive interests with those of shareholders. Key features of the 2008 Plan include a maximum of 4.1 million shares available for grants, plus any remaining from the 2000 Plan, and a ten-year term, with no awards to be granted after February 6, 2018. This initiative is a standard corporate governance practice aimed at retaining and motivating key talent through performance-linked compensation, which is an important consideration for investors evaluating the company's long-term strategy and executive compensation structure.

Key Highlights

  • 1Shareholders approved the Rockwell Automation, Inc. 2008 Long-Term Incentives Plan (2008 Plan) on February 6, 2008.
  • 2The 2008 Plan replaces the previously used 2000 Long-Term Incentives Plan.
  • 3No further grants will be made under the 2000 Plan now that the 2008 Plan is approved.
  • 4The 2008 Plan permits various award types including stock options, stock appreciation rights, restricted stock, and performance-based awards.
  • 5A total of up to 4.1 million shares, plus any remaining from the 2000 Plan, can be delivered under the 2008 Plan.
  • 6Awards under the 2008 Plan can be granted until February 6, 2018.

Frequently Asked Questions

The main purpose of this 8-K filing is to report that Rockwell Automation, Inc. shareholders approved the company's 2008 Long-Term Incentives Plan on February 6, 2008. This approval is a significant corporate governance event.

The 2008 Plan replaces the 2000 Plan. As of the shareholder approval date, no further grants will be made under the 2000 Plan. However, any outstanding awards granted under the 2000 Plan will continue to be governed by the terms of that plan and their original award agreements.

The 2008 Plan allows for a variety of equity-based awards to employees, including named executive officers. These awards can include stock options, stock appreciation rights, restricted stock, restricted stock units, performance units, and performance shares.

The 2008 Plan allows for the delivery of up to 4.1 million shares, plus any shares that remained available for delivery under the 2000 Plan as of the shareholder approval date. No awards can be granted under the 2008 Plan after February 6, 2018.