8-KLeadership ChangesExhibits & Filings

UNITED PARCEL SERVICE INC 8-K Report, Executive Changes (Mar 3, 2010)

Filed March 3, 2010For Securities:UPS

Summary

This 8-K filing from United Parcel Service, Inc. (UPS), filed on March 2, 2010, primarily concerns changes in executive compensation. The Compensation Committee of the Board of Directors approved the terms for the 2010 Long-Term Incentive Performance (LTIP) awards, which will be granted in the form of restricted stock units (RSUs). These RSUs represent shares of UPS's Class A common stock and are intended for executive officers, officers, and certain other eligible managers. The LTIP program is structured under the existing UPS 2009 Omnibus Incentive Compensation Plan, which has been previously approved by shareholders and filed with the SEC. The specific details of the RSUs, including the performance and earnings criteria tied to these awards, have been approved. Investors should note that this filing does not contain new financial results or significant operational updates, but rather focuses on the compensation framework designed to align executive interests with long-term company performance.

Key Highlights

  • 1UPS Compensation Committee approved the 2010 Long-Term Incentive Performance (LTIP) awards.
  • 2Awards will be granted in the form of Restricted Stock Units (RSUs).
  • 3RSUs are tied to Class A common stock.
  • 4Eligible recipients include executive officers, officers, and certain other managers.
  • 5The LTIP program operates under the previously approved UPS 2009 Omnibus Incentive Compensation Plan.
  • 6Performance and earnings criteria for the LTIP awards have been established.

Frequently Asked Questions

The main purpose of this 8-K filing is to announce the approval of the terms and criteria for the 2010 Long-Term Incentive Performance (LTIP) awards, which will be granted as Restricted Stock Units (RSUs) to key employees.

The RSUs are intended for executive officers, officers, and certain other eligible managers within UPS.

No, this 8-K filing does not contain new financial statements or operational results. Its focus is solely on executive compensation details related to the 2010 LTIP awards.

This is a pre-existing plan, approved by UPS shareholders and filed with the SEC, that authorizes the company to grant various forms of incentive compensation, including the LTIP awards announced in this filing.