Ensco Files 8K - Changes Executive Management
March 10 2017 - 4:59PM
Dow Jones News
ENSCO PLC (ESV) filed a Form 8K - Changes in Company Executive
Management - with the U.S Securities and Exchange Commission on
March 06, 2017.
On March 6, 2017, the Compensation Committee of the Board of
Directors of Ensco plc (the "Company") granted retention awards to
the Company's executive officers, in each case on the terms and
subject to the conditions of such executive officer's retention
award agreement (collectively, the "Retention Award Agreements").
The retention award amounts for our principal executive officer,
principal financial officer and each named executive officer are
set forth below.
Executive 2018 Retention Payment 2019 Retention Payment Total
Retention Award
Carl G. Trowell 900,000
900,000
1,800,000
Jonathan Baksht $ 637,500
$ 637,500
$ 1,275,000
P. Carey Lowe $ 775,000
$ 775,000
$ 1,550,000
Steven J. Brady $ 490,000
$ 490,000
$ 980,000
John S. Knowlton $ 450,000
$ 450,000
$ 900,000
Pursuant to the Retention Award Agreements, the executive will
earn (i) one-half of the retention award if such executive remains
employed through December 31, 2017 and (ii) the second half of the
retention award if such executive remains employed through December
31, 2018. If earned, each of the retention payments will be paid in
a lump sum in cash on or before January 15, 2018 and 2019,
respectively. The Retention Award Agreements provide for
accelerated vesting, in whole or in part, upon death, permanent and
total disability, termination without cause, and termination
without cause or resignation for good reason within two years
following a change of control. If an executive voluntarily resigns
or is terminated for cause, any then unearned portion of such
executive's retention award is forfeited.
The full text of this SEC filing can be retrieved at:
http://www.sec.gov/Archives/edgar/data/314808/000031480817000042/form8k_item502retentionawa.htm
Any exhibits and associated documents for this SEC filing can be
retrieved at:
http://www.sec.gov/Archives/edgar/data/314808/000031480817000042/0000314808-17-000042-index.htm
Public companies must file a Form 8-K, or current report, with
the SEC generally within four days of any event that could
materially affect a company's financial position or the value of
its shares.
(END) Dow Jones Newswires
March 10, 2017 16:44 ET (21:44 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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