Republic Services, Inc. (NYSE:RSG) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02
This Current Report on Form 8-K/A (the “Amendment”) is being filed as an amendment to the Current Report on Form 8-K filed by Republic Services, Inc. (the “Company”) on December7, 2017 (the “Original 8-K”). The Original 8-K was filed with the Securities and Exchange Commission to report the naming of Jon Vander Ark as the Company’s Executive Vice President, Chief Operating Officer effective January1, 2018. The purpose of this Amendment is to include information concerning Mr.Vander Ark’s compensation and other arrangements with the Company that were approved by the Management Development and Compensation Committee of our Board of Directors (the “Committee”) on February6, 2018.
In connection with his appointment, the Committee increased Mr.Vander Ark’s base salary to $625,000, with an annual cash bonus opportunity of 85% of his base salary. The Committee also granted Mr.Vander Ark approximately $625,000 in restricted stock units, as well as performance shares with an award target for the 2018-2020 performance cycle of $1,200,000. The Committee also approved supplemental long-term incentive awards with targets of $266,667 and $316,667 for the 2016-2018 and 2017-2019 performance cycles, respectively. Finally, the Committee approved the contribution of $65,000 to Mr.Vander Ark’s deferred compensation account.
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About Republic Services, Inc. (NYSE:RSG)
Republic Services, Inc. is a provider of non-hazardous solid waste collection, transfer, disposal, recycling and energy services in the United States. The Company operates through three segments: East, Central and West. The Company operates in over 40 states and Puerto Rico through approximately 340 collection operations, over 200 transfer stations, over 190 active landfills, approximately 70 recycling centers, approximately 10 treatment, recovery and disposal facilities, and over 10 salt water disposal wells. It also operates approximately 70 landfill gas and renewable energy projects. It has post-closure responsibility for approximately 130 closed landfills. The Company provides residential, small-container commercial and large-container industrial solid waste collection services. Its residential collection business involves the curbside collection of waste for transport to transfer stations, or directly to landfills or recycling centers.
