Summary
This 8-K filing from Sherwin-Williams (SHW) on February 16, 2011, primarily details the approval of a new form of Restricted Stock Grant (Performance and Time-Based) by the Compensation and Management Development Committee. This grant is made under the company's 2006 Equity and Performance Incentive Plan, which was previously approved by shareholders and amended in April 2010. While the filing doesn't disclose specific grant amounts or recipients, it signals a continuation of the company's strategy to incentivize executive and employee performance through equity awards. Investors should note that the details of the actual grants, including the number of shares and performance metrics, are not provided in this specific filing but are governed by the approved form and the underlying Incentive Plan.
Key Highlights
- 1Sherwin-Williams' Compensation Committee approved a standardized form for Restricted Stock Grants.
- 2These grants will be performance and time-based, aligning with the company's incentive structures.
- 3The grants are issued under the Sherwin-Williams Company 2006 Equity and Performance Incentive Plan (Amended and Restated as of April 21, 2010).
- 4The Incentive Plan was previously approved by Sherwin-Williams' shareholders.
- 5The Form of Restricted Stock Grant (Performance and Time-Based) is filed as an exhibit (Exhibit 10(a)).
- 6This filing does not specify individual grant amounts, recipients, or specific performance targets.