AMERICAN RAILCAR INDUSTRIES, INC. (NASDAQ:ARII) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02 Departure of Directors or Certain Officers; Election of
Directors; Appointment of Certain Officers; Compensatory
Arrangements of Certain Officers.
Board of Directors (the Committee) granted awards of stock
appreciation rights (SARs) to certain employees to the Companys
amended and restated 2005 Equity Incentive Plan (the Equity
Incentive Plan). The Committee granted an aggregate of 65,205 to
the Companys named executive officers as follows:
|
Name
|
|
Position
|
|
Number of SARs
|
|
Jeffrey S. Hollister
|
|
President and Chief Executive Officer
|
|
38,047
|
|
Luke M. Williams
|
|
Senior Vice President, Chief Financial Officer and
Treasurer |
|
12,446
|
|
Yevgeny Fundler
|
|
Senior Vice President, General Counsel and Secretary
|
|
14,712
|
March 7, 2019 and March 7, 2020. Each holder must remain employed
by the Company through each anniversary of the grant date in order
to vest in the corresponding number of SARs. The SARs have a term
of seven years.
$40.93, the closing price of the Companys common stock on the date
of grant. Upon the exercise of any SAR, the Company shall pay the
holder, in cash, an amount equal to the excess of the aggregate
fair market value in respect of which the SARs are being exercised,
over the aggregate exercise price of the SARs being exercised. The
SARs are subject in all respects to the terms and conditions of the
Equity Incentive Plan and the Stock Appreciation Rights Agreement
evidencing the grant, which contain non-solicitation,
non-competition and confidentiality provisions.
About AMERICAN RAILCAR INDUSTRIES, INC. (NASDAQ:ARII)
American Railcar Industries, Inc. is a designer and manufacturer of hopper and tank railcars. The Company designs, manufactures and sells railcars and a range of components for the North American railcar and industrial markets. The Company operates through three segments: manufacturing, railcar leasing and railcar services. The manufacturing consists of railcar manufacturing, and railcar and industrial component manufacturing. The railcar-leasing segment consists of railcars manufactured by the Company and leased to third parties under operating leases. The railcar services segment consists of railcar repair, engineering and field services. It manufactures over two types of railcars, hopper railcars and tank railcars. It also manufactures various components for railcar and industrial markets. It manufactures both general service and specialty hopper railcars at its Paragould plant. Its hopper railcars are designed for shipping a range of dry bulk products from light density products. AMERICAN RAILCAR INDUSTRIES, INC. (NASDAQ:ARII) Recent Trading Information
AMERICAN RAILCAR INDUSTRIES, INC. (NASDAQ:ARII) closed its last trading session down -1.24 at 38.92 with 155,120 shares trading hands.