Item 5.02 Departure of Directors or Certain Officers; Election of Directors,
Appointment of Certain Officers; Compensatory Arrangements of Certain
Officers.
Effective July 13, 2020, Gillian Anderson, age 36, has been appointed Vice
President and Chief Accounting Officer of MRC Global Inc. (the "Company") and
will serve the Company as its principal accounting officer.
Ms. Anderson most recently served as an Audit Senior Manager with Ernst & Young
LLP ("E&Y") since 2015. From 2007 to 2015, she held various roles with E&Y.
Ms. Anderson is a Certified Public Accountant and a Chartered Accountant,
Institute of Chartered Accountants of Scotland.
In connection with Ms. Anderson's appointment, the Company is providing
Ms. Anderson the following compensation:
(i) an annual base salary of $235,000, (ii) eligibility for an annual bonus at a
target level of 40% of her annual base salary (prorated for 2021 for her time in
service and subject to any percentage reduction in 2021 in the same manner as
similarly situated executives) to be based upon individual or Company
performance criteria that the board of the Company establishes for each fiscal
year, (iii) an initial grant of a long-term incentive award in restricted stock
units with a graded annual vesting in 1/3 increments over three years, with a
grant date target value of $82,250 (based on the 20-day volume weighted average
price on the date of grant) and (iv) while awards are at the direction of the
Compensation Committee, eligibility in long-term incentive awards pursuant to
the Company's Omnibus Incentive Plan, as amended or any replacement plan in
effect for executives. Ms. Anderson will also participate in all retirement and
welfare benefit plans, programs, and arrangements generally available to
newly-hired executive officers, subject to eligibility requirements.
There is no family relationship between Ms. Anderson and any director or
executive officer of the Company nor are there any arrangements between
Ms. Anderson and any other persons pursuant to which Ms. Anderson was selected
to serve as an officer. There are no transactions to which the Company or any of
its subsidiaries is a party and which Ms. Anderson has a direct or indirect
material interest subject to disclosure pursuant to Item 404(a) of Regulation
S-K.
2
--------------------------------------------------------------------------------
© Edgar Online, source Glimpses