Summary
This 8-K filing from TE Connectivity Ltd. (TEL) reports on a compensation matter involving a key executive. Specifically, on September 14, 2016, the company granted 3,990 restricted stock units (RSUs) to Mario Calastri, Senior Vice President and Treasurer. This grant is in recognition of his prior service as Acting Chief Financial Officer. These RSUs are subject to a vesting schedule, with full vesting occurring on the second anniversary of the grant date, September 14, 2018. This information is relevant for investors to understand executive compensation and potential future dilution or share issuance related to equity awards. It signals continued recognition of executive contributions and retention efforts.
Key Highlights
- 1TE Connectivity Ltd. granted 3,990 restricted stock units (RSUs) to Mario Calastri, Senior Vice President and Treasurer.
- 2The RSU grant was made on September 14, 2016.
- 3The grant is in recognition of Mr. Calastri's prior service as Acting Chief Financial Officer.
- 4The RSUs are subject to a two-year vesting period.
- 5Vesting is scheduled to occur on the second anniversary of the grant date, September 14, 2018.
- 6The RSUs were issued under the TE Connectivity Ltd. 2007 Stock and Incentive Plan.