ACI WORLDWIDE, INC. (NASDAQ:ACIW) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02.
| The value of a MSU is based on a Monte-Carlo simulation model and such value is not available as of the date of this Current Report. The number of on-target MSUs awarded is determined by dividing the grant-date value denoted in the table by the value of a MSU. |
| Mr.Scotto plans to retire within the fiscal year and did not receive any 2018 LTIP awards. |
MSUs under the 2018 LTIP are earned, if at all, based upon the relative performance of the trading price per share of the Company’s stock, over the three-year period of January1, 2018 to December31, 2020, against the S&P 400 Mid-Cap Index. Grantees will earn MSUs, if at all, based on a performance matrix that provides 50% of the on-target MSUs are earned for performance at the 25thpercentile against the S&P 400 Mid-Cap Index, 95% of on-target value for performance at the 50th percentile, 50% of the on-target value for performance at the 55th percentile and 200% of on-target value at the 75th percentile against the S&P 400 Mid-Cap Index.
The RSUs and nonqualified stock options vest in three equal installments on the first, second and third anniversary of the grant date, subject to the recipient being employed with the Company on the vesting date.
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About ACI WORLDWIDE, INC. (NASDAQ:ACIW)
ACI Worldwide, Inc. develops, markets, installs and supports a line of software products and services primarily focused on facilitating electronic payments. The Company also distributes or acts as a sales agent for software developed by third parties. These products and services are used principally by financial institutions, retailers, billers and electronic payment processors, both in domestic and international markets. The Company’s products are sold and supported through distribution networks covering three geographic regions, including the Americas, Europe/Middle East/Africa (EMEA) and Asia/Pacific. The electronic payments market consists of financial institutions, retailers, billers, third-party electronic payment processors, payment associations, switch interchanges and a range of transaction-generating endpoints, including automated teller machines (ATM), retail merchant locations, bank branches, mobile phones, corporations and Internet commerce sites.