Who is Robert A. Maruster and what is his background?

Robert A. Maruster is the newly appointed Executive Vice President - Chief Operating Officer of Republic Services, Inc. He is 42 years old and possesses broad operational experience, primarily from the airline industry. Most recently, he served as Chief Operating Officer and Executive Vice President at JetBlue Airways Corporation from 2009 to April 2014, and previously held various management roles at Delta Air Lines.

What is Mr. Maruster's compensation package?

Mr. Maruster's compensation package includes an annual base salary of $560,000. He is also eligible for an annual bonus plan (target 80% of base salary for 2015), a Long-Term Incentive Plan (target $500,000 for the 2015-2017 cycle), and significant equity awards. Upon commencement, he will receive stock options valued at $125,000 and restricted stock units valued at $250,000. Anticipated annual equity awards starting in 2015 include stock options ($250,000) and restricted stock units ($500,000). He also receives a special one-time RSU grant of $300,000, other special long-term incentive awards, a $75,000 relocation bonus, and relocation benefits.

When does Mr. Maruster's appointment take effect and what are the key terms of his employment?

Mr. Maruster's appointment as Executive Vice President - Chief Operating Officer is effective on June 9, 2014. His employment terms are governed by an Offer Letter dated May 28, 2014, which details his salary, bonus, incentive plans, equity grants, and separation benefits eligibility. These are subject to the terms and conditions of the applicable plans and board approval.

RSG 8-K: Leadership Changes

Summary

Republic Services, Inc. (RSG) has announced a significant leadership change with the appointment of Robert A. Maruster as Executive Vice President - Chief Operating Officer, effective June 9, 2014. Mr. Maruster brings extensive operational experience from the airline industry, most recently serving as Chief Operating Officer at JetBlue Airways Corporation. This filing details his compensation package, which includes a base salary of $560,000, eligibility for annual and long-term incentive plans, and substantial equity awards in stock options and restricted stock units. The company is investing significantly in this new executive to drive operational efficiency and growth.

Key Highlights

1Appointment of Robert A. Maruster as Executive Vice President - Chief Operating Officer, effective June 9, 2014.
2Mr. Maruster brings significant operational leadership experience from JetBlue Airways and Delta Air Lines.
3Annual base salary for Mr. Maruster is set at $560,000.
4Mr. Maruster is eligible for annual bonuses targeting 80% of base salary in 2015.
5He will receive significant equity awards, including stock options and restricted stock units, with grant-date values totaling $375,000 at commencement and anticipated annual awards of $750,000 starting in 2015.
6Additional long-term incentive awards and a special one-time relocation bonus of $75,000 are included in his compensation package.
7The appointment and compensation details are outlined in an Offer Letter filed as an exhibit.

REPUBLIC SERVICES, INC. 8-K Report, Executive Changes (Jun 2, 2014)

Summary

Key Highlights

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