Summary
United Parcel Service, Inc. (UPS) filed an 8-K report on March 24, 2016, primarily to disclose information regarding executive compensation. The Compensation Committee of the Board of Directors approved Long-Term Incentive Performance (LTIP) awards for the 2016-2018 performance period for certain employees, including executive officers. These awards were granted under the company's 2015 Omnibus Incentive Compensation Plan.
Key Highlights
- 1Approval of Long-Term Incentive Performance (LTIP) awards for the 2016-2018 performance period.
- 2Awards granted to certain employees, including executive officers.
- 3LTIP awards are part of the company's compensation strategy to incentivize long-term performance.
- 4Awards fall under the United Parcel Service, Inc. 2015 Omnibus Incentive Compensation Plan.
- 5A new form of award certificate for the 2016 LTIP awards was approved and filed as an exhibit.
Frequently Asked Questions
The main purpose of this 8-K filing is to report the approval and grant of Long-Term Incentive Performance (LTIP) awards to certain employees, including executive officers, for the 2016-2018 performance period.
The LTIP awards were granted to certain employees of UPS, which specifically includes its executive officers.
The 2016 LTIP awards were granted under the United Parcel Service, Inc. 2015 Omnibus Incentive Compensation Plan.
The performance period for these LTIP awards is from 2016 to 2018.