ITEM 5.02. Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On
•Approved the 2021 goals under the Incentive Compensation Plan (the "ICP"). The financial metrics selected for inclusion in the ICP (and their relative weightings) are as follows: cash flow from operations before discretionary pension funding (35%); segment operating income growth (35%); net income growth* (15%); and operating margin rate* (15%).
•Awarded Restricted Performance Stock Rights ("RPSR") for the performance period
2021-2023 and approved the metrics for such RPSR awards (and their relative
weightings), which will be measured in terms of cumulative free cash flow (1/3);
operating return on net assets (1/3); and relative total shareholder return
(1/3), and increasing the maximum payout of the RPSR awards granted from 150% to
200%. The Board of Directors also approved the award of Restricted Stock Rights
("RSR") that will vest on
--------------------------------------------------------------------------------
© Edgar Online, source