Summary
This 8-K/A filing from TE Connectivity Ltd. (TEL) is an amendment to a previous report, clarifying details regarding an equity incentive award granted to Joseph B. Donahue. The award was made in connection with his promotion to Executive Vice President and Chief Operating Officer on June 7, 2011. The compensation package includes stock options and restricted stock units designed to retain and incentivize key leadership through long-term vesting schedules.
Key Highlights
- 1Amendment No. 1 to a previous Form 8-K filing dated May 9, 2011.
- 2Discloses an equity incentive award granted to Joseph B. Donahue on June 7, 2011.
- 3Mr. Donahue was promoted to Executive Vice President and Chief Operating Officer.
- 4The award includes non-qualified stock options to purchase 13,650 common shares at $35.90 per share.
- 5Stock options vest in equal installments over four years, starting on the first anniversary of the grant date.
- 6The award also includes 1,640 restricted stock units, vesting similarly over four years.
- 7All awards are governed by the terms of the Company’s 2007 Stock and Incentive Plan.
Frequently Asked Questions
This filing (8-K/A) serves as an amendment to a previous report to provide specific details about an equity incentive award granted to Joseph B. Donahue upon his promotion to Executive Vice President and Chief Operating Officer.
Mr. Donahue received non-qualified stock options to purchase 13,650 common shares at an exercise price of $35.90 and 1,640 restricted stock units.
Both the stock options and restricted stock units will vest in equal installments over a four-year period, beginning on the first anniversary of the grant date (June 7, 2011).
The equity awards were granted under TE Connectivity Ltd.'s 2007 Stock and Incentive Plan, as amended.