Conn’s, Inc. (NASDAQ:CONN) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02 Compensatory Arrangement of Certain Officers. >>On February 23, 2017 (the “Award Date”), the Compensation Committee (the “Committee”) of the Board of Directors of Conn’s, Inc. (the “Company”), approved a Special Equity Award (the “Special Equity Award”) to Mr. Brian Daly, the Company’s Chief Human Resources Officer, of 20,109 Performance Based Restricted Stock Units (“PSUs”), assuming target performance conditions are met. Further, contingent upon stockholder approval of the Company’s proposal for an amended 2016 Omnibus Incentive Equity Plan (“2016 Equity Plan”), the Special Equity Award conditionally includes an additional 2,891 PSUs, assuming target performance conditions are met, and 23,000 Restricted Shock Units (“RSUs”).
Conn’s, Inc. (NASDAQ:CONN) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
The PSUs will vest, if at all, upon the certification, after the Company’s Fiscal Year 2020, by the Committee of the satisfaction of the annual and cumulative Earnings Before Interest, Taxes, Depreciation and Amortization (“EBITDA”) performance conditions over three fiscal years commencing with the Company’s 2018 Fiscal Year. If target EBITDA is exceeded during the period, Mr. Daly may earn additional PSUs. Further, a Total Shareholder Return modifier could be applied to the PSUs based upon a comparison of the Company’s stock price in February 2017 and February 2020, which could increase or decrease the number of PSUs earned by Mr. Daly.
Contingent upon stockholder approval of the Company’s proposal for an amended 2016 Equity Plan, the RSUs will vest, if at all, in three equal installments over a three-year period, the first installment vesting on the first anniversary of the Award Date; the second installment vesting on the second anniversary of the Award Date; and the third installment vesting on the third anniversary of the Award Date.
Contingent upon stockholder approval of an amended 2016 Equity Plan, these Special Equity Awards are intended at this time to cover those prospective equity grants that Mr. Daly would have received in Fiscal Years 2018, 2019, and 2020.
About Conn’s, Inc. (NASDAQ:CONN)
Conn’s, Inc. is a specialty retailer that offers a selection of consumer goods and related services in addition to a credit solution for its core credit constrained consumers. The Company operates through two segments: retail and credit. The Retail segment includes product categories, such as furniture and mattress, including furniture and related accessories for the living room, dining room and bedroom; home appliance, including refrigerators, freezers, washers, dryers, dishwashers and ranges; Consumer electronics, including liquid-crystal-display (LED), organic LED (OLED), Ultra high definition (HD) and Internet-ready televisions, and home office, including computers, printers and accessories. Its credit segment provides short- and medium-term financing for its retail customers. Its credit offering provides financing solutions to credit constrained consumers having limited banking options. The Company operates its business through its retail stores and Website. Conn’s, Inc. (NASDAQ:CONN) Recent Trading Information
Conn’s, Inc. (NASDAQ:CONN) closed its last trading session down -0.40 at 9.55 with 494,581 shares trading hands.
Conn’s, Inc. is a specialty retailer that offers a selection of consumer goods and related services in addition to a credit solution for its core credit constrained consumers. The Company operates through two segments: retail and credit. The Retail segment includes product categories, such as furniture and mattress, including furniture and related accessories for the living room, dining room and bedroom; home appliance, including refrigerators, freezers, washers, dryers, dishwashers and ranges; Consumer electronics, including liquid-crystal-display (LED), organic LED (OLED), Ultra high definition (HD) and Internet-ready televisions, and home office, including computers, printers and accessories. Its credit segment provides short- and medium-term financing for its retail customers. Its credit offering provides financing solutions to credit constrained consumers having limited banking options. The Company operates its business through its retail stores and Website. Conn’s, Inc. (NASDAQ:CONN) Recent Trading Information
Conn’s, Inc. (NASDAQ:CONN) closed its last trading session down -0.40 at 9.55 with 494,581 shares trading hands.
