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UNITED RENTALS, INC. 8-K Report, Material Agreement (Apr 10, 2006)

Reports
Material Agreements
Filing Date
Filed April 10, 2006
Period End
April 4, 2006
Security
URI
In the record · 2016–202610-K1110-Q328-K170

URI filed 11 annual reports (10-K), 32 quarterly reports (10-Q) and 170 current reports (8-K) between 2016 and 2026.

  1. Deal closed8-K · Oct ’17Oct ’17
  2. Leadership change8-K · May ’19May ’19
  3. Material agreement8-K · Aug ’21Aug ’21
  4. Material agreement8-K · Aug ’25Aug ’25

01—Abstract

Summary

Summary of the 8-K filed April 10, 2006. Cited figures are marked; the original filing is the authoritative source.

This 8-K filing from United Rentals, Inc. (URI) on April 10, 2006, reports on material definitive agreements related to executive compensation.

Specifically, it details increases in the base salaries for CEO Wayland Hicks and Executive Vice President Michael Kneeland, effective April 1, 2006. These adjustments were made by the compensation committee following the company's recent filing of its 2004 and 2005 financial statements, signaling a potential focus on executive incentives aligned with financial performance. The filing also outlines the target and maximum bonus structures for Mr. Hicks and Mr. Kneeland under the company's Annual Incentive Compensation Plan for 2006.

For Mr. Hicks, the target bonus is 100% of his $750,000a base salary, with a maximum of 150%. For Mr. Kneeland, the target is 100% of his $400,000 base salary, with a maximum of 125%. These details provide insight into the company's strategy for motivating its key leadership.

02—Key points

Key Highlights

  1. United Rentals, Inc. (URI) filed an 8-K on April 10, 2006, detailing executive compensation changes.
  2. Effective April 1, 2006, CEO Wayland Hicks' base salary increased to $750,000 per annum.
  3. Executive Vice President Michael Kneeland's base salary increased to $400,000 per annum, effective April 1, 2006.
  4. The compensation committee of the board of directors approved these salary increases.
  5. These changes follow the company's filing of its 2004 and 2005 financial statements.
  6. For 2006, Mr. Hicks has a target bonus of 100% (max 150%) of his base salary.
  7. For 2006, Mr. Kneeland has a target bonus of 100% (max 125%) of his base salary.

03—Questions

Frequently Asked Questions

  1. What is the main purpose of this 8-K filing?

    The main purpose of this 8-K filing is to disclose material definitive agreements concerning the executive compensation of two key officers, the CEO and the Executive Vice President of Operations, including increases in their base salaries and details on their potential annual bonuses for 2006.

  2. When did the executive salary increases take effect?

    The executive salary increases were effective April 1, 2006.

  3. What is the bonus potential for the CEO and Executive VP in 2006?

    For 2006, CEO Wayland Hicks has a target bonus of 100% of his $750,000 base salary, with a maximum of 150%. Executive Vice President Michael Kneeland has a target bonus of 100% of his $400,000 base salary, with a maximum of 125%.

  4. What prompted these compensation adjustments?

    The compensation committee of the board of directors determined to increase the base salaries and set bonus structures following the company's filing of its 2004 and 2005 financial statements with the SEC.

04—Continue

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