Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment
of Certain Officers; Compensatory Arrangements of Certain Officers. OnNovember 22, 2021 , the Compensation Committee (the "Committee") of the Board of Directors ofLimbach Holdings, Inc. (the "Company") determined to modify the compensation arrangements for 2022 for (i)Charles A. Bacon , III, the Company's President and Chief Executive Officer, (ii)Michael M. McCann , the Company's Chief Operating Officer and (iii)Jayme L. Brooks , the Company's Executive Vice President and Chief Financial Officer. These modifications will be effective beginning in 2022. For 2022, the Committee established that Messrs. Bacon and McCann's andMrs. Brooks' annual base salaries would be set at$650,000 (an increase of$32,000 from 2021),$417,500 (an increase of$30,000 from 2021) and$394,500 (an increase of$12,000 from 2021), respectively. Additionally, inJanuary 2022 , under the Company's long term incentive plan ("LTIP"), Messrs. Bacon and McCann andMrs. Brooks , will be awarded restricted stock units valued in dollars based on a percentage of their 2022 annual base salaries. Messrs. Bacon and McCann's andMrs. Brooks' 2022 LTIP awards will be based on 100%, 100% and 70%, respectively, of their 2022 annual base salaries. The LTIP awards will vest over three years and one-third of the awards will be based on time based vesting and two-thirds of the awards will be based on performance-based vesting. There were no changes made by the Committee for Messrs. Bacon and McCann's andMrs. Brooks' target percentages under the Company's cash bonus awards for 2022 under the Company's short term incentive plan. As such, the target award bonus percentages for 2022 for Messrs. Bacon and McCann andMrs. Brooks remain at 100%, 70%, and 60%, respectively, of their 2022 base salaries. Item 9.01 Financial Statements and Exhibits. (d) Exhibits Exhibit No. Description 104 Cover Page Interactive Data File (the cover page XBRL tags are embedded within the Inline XBRL document)
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