Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Nyse  >  Graco Inc.    GGG

GRACO INC.

(GGG)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsPress ReleasesOfficial PublicationsSector newsAnalyst Recommendations

GRACO INC : Change in Directors or Principal Officers (form 8-K)

share with twitter share with LinkedIn share with facebook
share via e-mail
09/19/2019 | 05:00pm EST

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


On September 19, 2019, the Management Organization and Compensation Committee
(the "Compensation Committee") of the Board of Directors of Graco Inc. (the
"Company") approved and adopted the Graco Inc. Incentive Bonus Plan (the "Plan")
effective January 1, 2020. The Plan will replace the Incentive Bonus Plan
adopted by the Company's shareholders at the Annual Meeting of Shareholders on
April 28, 2017 (the "2017 Plan"), which the Compensation Committee has
terminated following payment of any incentive awards for the performance period
ending December 27, 2019. The Plan is substantially similar to the 2017 Plan
except that it removes certain references and requirements previously applicable
to qualified performance-based compensation under Section 162(m) of the Internal
Revenue Code following the repeal of the Section 162(m) qualified
performance-based compensation exemption under the Tax Cuts and Jobs Act of
2017.
The Plan provides for a cash payment to be made to the executive officers and
certain other employees of the Company selected for participation in the Plan,
based upon the achievement of certain financial and non-financial performance
targets established by the Compensation Committee. The Compensation Committee
has the authority to designate the participants in the Plan; determine the
applicable performance period; determine the amount of each bonus award; select
applicable performance targets; identify the weights of applicable performance
targets; determine the relationship between the degree to which performance
targets have been achieved and bonus payments; and adjust bonus payments based
on unusual or unique circumstances or the impact of acquisitions, divestitures
or other major unusual events.
The summary description of the Plan set forth above is qualified in its entirety
by reference to the full text of the Plan, a copy of which is filed as Exhibit
10.1 to this Current Report on Form 8-K, and incorporated herein by reference.



--------------------------------------------------------------------------------

© Edgar Online, source Glimpses

share with twitter share with LinkedIn share with facebook
share via e-mail
Latest news on GRACO INC.
02/18GRACO : Management's Discussion and Analysis of Financial Condition and Results ..
AQ
02/14GRACO : Announces Regular Quarterly Dividend
BU
02/13GRACO : Launches the Fusion ProConnect Spray Gun
BU
02/12GRACO : 4th QUARTER 2019 INVESTOR PRESENTATION
PU
02/03GRACO INC : Entry into a Material Definitive Agreement, Financial Statements and..
AQ
01/27GRACO : 4th Quarter 2019 Conference Call Slides
PU
01/27GRACO INC : Results of Operations and Financial Condition, Financial Statements ..
AQ
01/27GRACO : Reports Fourth Quarter and Annual Results
BU
01/22GRACO INC. : annual earnings release
01/17GRACO INC. : Ex-dividend day for
FA
More news