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MarketScreener Homepage  >  Equities  >  Nyse  >  Fluor Corporation    FLR

FLUOR CORPORATION

(FLR)
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FLUOR CORP : Change in Directors or Principal Officers (form 8-K)

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05/28/2020 | 05:34pm EDT

Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

As previously reported, Mr. Ray F. Barnard, Executive Vice President, Systems and Supply Chain, and Mr. Jose Bustamante, Executive Vice President, Energy and Chemicals-Business Development and Strategy, were separated from their employment with Fluor Corporation (the "Corporation") effective May 22, 2020.

On May 22, 2020, the Corporation entered into Separation and Release Agreements (each, a "Separation Agreement") with each of Mr. Barnard and Mr. Bustamante. Pursuant to their respective Separation Agreements, Mr. Barnard will receive a lump sum payment of $620,000, and Mr. Bustamante will receive a lump sum payment of $525,000, which amounts are equal to one year of their base salaries on the date of separation. Messrs. Barnard and Bustamante will also be paid for any accrued but unused time off with pay. Messrs. Barnard and Bustamante will be eligible to receive their annual incentive awards earned for 2019, which will be paid after the Corporation files its Annual Report on Form 10-K for the year ended December 31, 2019. Restricted stock units, Value Driver Incentive awards and non-qualified stock options granted to Messrs. Barnard and Bustamante at least one year prior to the separation date will continue to vest in accordance with their terms.

The Separation Agreements provide that Messrs. Barnard and Bustamante will make themselves reasonably available to assist the Corporation in any litigation or investigations involving the Corporation. The Separation Agreements also contain customary confidentiality covenants, a release of claims, and non-competition and non-solicitation restrictions.

In addition, on May 22, 2020, the Corporation entered into a Consulting Agreement with Mr. Bustamante, pursuant to which he may provide consulting and advisory services to the Corporation at a rate of $495 per hour, for a period of up to six months beginning on May 25, 2020.

© Edgar Online, source Glimpses

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Financials (USD)
Sales 2019 16 799 M - -
Net income 2019 -1 291 M - -
Net Debt 2019 - - -
P/E ratio 2019 -1,25x
Yield 2019 6,06%
Capitalization 1 640 M 1 640 M -
EV / Sales 2018
Capi. / Sales 2019 0,10x
Nbr of Employees 53 349
Free-Float 89,4%
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Income Statement Evolution
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Mean consensus HOLD
Number of Analysts 10
Average target price 11,89 $
Last Close Price 11,70 $
Spread / Highest target 88,0%
Spread / Average Target 1,61%
Spread / Lowest Target -40,2%
EPS Revisions
Managers
NameTitle
Carlos Manuel Hernandez Chief Executive Officer & Director
Alan Lee Boeckmann Executive Chairman
D. Michael Steuert Executive VP, Chief Financial & Accounting Officer
Robert C. Taylor Chief Information Officer & Senior Vice President
Peter J. Fluor Lead Independent Director
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