ALTRA INDUSTRIAL MOTION CORP. (NASDAQ:AIMC) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

ALTRA INDUSTRIAL MOTION CORP. (NASDAQ:AIMC) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

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Item 5.02Departure of Directors or Certain Officers; Election of
Directors; Appointment of Certain Officers; Compensatory
Arrangements of Certain Officers.

Executive Compensation

On February 8, 2017, the Personnel Compensation Committee of the
Board of Directors (the Compensation Committee) of Altra
Industrial Motion Corp., a Delaware corporation (the Company),
approved the 2017 compensation for the Companys named executive
officers.The Compensation Committee based its determinations of
the 2017 compensation, in part, on a 2014 report by the Companys
compensation consultant, Frederic W. Cook Co., which indicated
that (i) certain executive officer base salaries were below
median market levels and could be increased to more closely
reflect market median levels as part of the Companys annual
salary review process and (ii) the total target annual
compensation (the sum of base salary and target bonus) and the
total target direct compensation (the sum of base salary, target
bonus and the annualized grant date present value of long-term
incentive grants) for the Companys executive officers were below
market median levels.The Compensation Committees determination of
the 2017 salaries, target bonus and long term incentive grants
for the Companys named executive officers continued the
Compensation Committees decisions in 2016 and 2015 to bring the
compensation for the Companys named executive officers in line
with median market levels.

For the year 2017, the named executive officers will receive base
salaries as set forth below.

Named Executive Officer

2016 Base Salary

Carl R. Christenson

$

689,585

(1)

Christian Storch

$

429,665

(1)

Gerald P. Ferris

$

265,225

(1)

Glenn E. Deegan

$

344,793

(1)

Craig Schuele

$

254,616

(1)

(1)

Increase is effective as of January 1, 2017.

On February 8, 2017, the Compensation Committee issued grants of
restricted common stock and target performance shares to the
named executive officers under the Companys 2014 Omnibus
Incentive Plan as set forth below.

Restricted Stock

Performance Shares

Named Executive Officer

Number Granted

Stock Cash Value

at Time of Grant

Target Number Granted

Stock Cash Value

at Time of Grant

Carl R. Christenson

26,973

$

1,034,378

13,487

$

517,189

Christian Storch

5,602

$

214,833

5,602

$

214,833

Gerald P. Ferris

3,458

$

132,613

3,458

$

132,613

Glenn E. Deegan

4,496

$

172,397

4,496

$

172,397

Craig Schuele

2,988

$

114,577

2,988

$

114,577

The restricted stock awards for each of the five named executive
officers will vest in equal installments on August 15, 2017,
August 15, 2018, August 15, 2019 and August 15, 2020.

The performance objective for fifty percent (50%) of the
performance shares is a targeted amount of return on invested
capital established by the Compensation Committee of the Company
over a measurement period of one year beginning on January 1,
2017 and ending on December 31, 2017.Award payouts for the
performance shares are based on the percentage of the performance
target achieved. The percentage of the award earned at the end of
the performance cycle based on the performance target can range
between 0%, for achievement of less than approximately 83% of the
performance target, and 200%, for achievement of approximately
111% of the performance target.Once the amount of the performance
share award is fixed based upon achievement of the target
performance objective, the awards will be paid in restricted
common stock, which restricted stock will vest on the second
anniversary of the issuance date.

The performance objective for the remaining fifty percent (50%)
of the performance shares measures the Companys total shareholder
return (TSR) against the TSR for a peer group of companies over a
measurement period of three years beginning on January 1, 2017
and ending on December 31, 2019.Award payouts for the performance
shares are based on the percentile rank of the Companys TSR
compared to the TSR of peer group companies over the performance
period.Achievement of a relative TSR percentile rank at the
50th percentile results
in an earned performance share award at 50% of target. The
percentage of the award earned at the end of the performance
cycle based on the performance target can range between 0%, for
achievement of a relative TSR percentile rank below the
25th percentile, and
150%, for achievement of a relative TSR percentile rank at or
above the 75th
percentile.

On February 8, 2017, the Compensation Committee of the Company
also approved the 2017 target bonus percentage amounts for the
named executive officers of the Company to the Company’s
Management Incentive Compensation Program.The Compensation
Committee established target bonus percentages for each of Carl
R. Christenson, Christian Storch, Gerald P. Ferris, Glenn E.
Deegan and Craig Schuele such that those executives may be
entitled to receive a cash bonus equal to 75%, 60%, 55%, 55% and
50% of their 2017 base salary, respectively, subject to upward or
downward adjustment by the Compensation Committee based on their
respective individual and the Companys performance in 2017.The
Company’s performance is based on achievement of certain
targeted amounts of adjusted EBTIDA, working capital management
goals, and sales and earnings growth.


About ALTRA INDUSTRIAL MOTION CORP. (NASDAQ:AIMC)

Altra Industrial Motion Corp. is a designer, producer and marketer of a range of mechanical power transmission (MPT) components. The Company operates through three segments: Couplings, Clutches and Brakes; Electromagnetic Clutches and Brakes, and Gearing. The Company’s products are used to control and transmit power and torque in virtually any industrial application involving movement. The Company’s product portfolio includes clutches and brakes, couplings and gearing, and power transmission components. Its products are used in a range of manufacturing processes. Its products are also used in non-manufacturing applications, such as clutches and brakes for elevators, and residential and commercial lawnmowers. The Company’s products serve a range of end markets, including energy, general industrial, material handling, mining, transportation, and turf and garden.

ALTRA INDUSTRIAL MOTION CORP. (NASDAQ:AIMC) Recent Trading Information

ALTRA INDUSTRIAL MOTION CORP. (NASDAQ:AIMC) closed its last trading session down -0.15 at 39.85 with 142,624 shares trading hands.

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