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.