Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
d) Valmont Industries, Inc. (the "Company") issued a press release announcing
the appointments of Ritu Favre and Joan Robinson-Berry to its Board of
Directors, effective September 18, 2020. The size of the Company's board of
directors was increased to 12 members.
As non-employee directors, the new directors receive a cash retainer of $95,000
per annum. Non-employee directors also receive a grant of restricted stock units
with a value of $135,000. The equity grants are made annually on the date of and
following completion of the Company's annual shareholders' meeting. The
restricted stock units vest on the first anniversary of the grant date (subject
to deferral by the director). The total cash compensation and the grant date
fair value of equity awards for a non-employee director may not exceed $500,000
in a calendar year.
The Company's press release announcing the appointments of the two directors is
included with this Form 8-K as Exhibit 99.1 and incorporated herein by
reference.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
Exhibit No. Description
99.1 Press Release dated September 21, 2020
Cover Page Interactive File (the cover page XBRL tags are embedded in
104 the Inline XBRL document)
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