Summary
This amendment to Republic Services, Inc.'s (RSG) original 8-K filing details the compensation package for newly appointed Executive Vice President and Chief Financial Officer, Brian DelGhiaccio, effective June 1, 2020. The provided information focuses on the financial arrangements approved by the Management Development and Compensation Committee, offering transparency into the incentives and remuneration for a key executive position. Investors should note the details of his base salary, bonus potential, restricted stock units, and long-term incentive awards across various performance cycles. The compensation structure appears designed to align Mr. DelGhiaccio's interests with the company's long-term performance. The inclusion of restricted stock units and multi-year incentive awards suggests a focus on retention and shareholder value creation. The figures provided offer a concrete look at the investment the company is making in its top financial leadership.
Key Highlights
- 1Amendment to original 8-K filing concerns compensation for new EVP and CFO, Brian DelGhiaccio.
- 2Mr. DelGhiaccio's base salary is set at $550,000 annually.
- 3He has an annual cash bonus opportunity equal to 80% of his base salary.
- 4A grant of $200,000 in restricted stock units was awarded.
- 5Supplemental long-term incentive awards include targets of $100,000 (2018-2020), $233,333 (2019-2021), and $352,917 (2020-2022) performance cycles.
- 6A contribution of $65,000 was approved for Mr. DelGhiaccio's deferred compensation account.
- 7Compensation details were approved by the Management Development and Compensation Committee and accepted by Mr. DelGhiaccio on June 3, 2020.