American Superconductor Corporation (NASDAQ:AMSC) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

American Superconductor Corporation (NASDAQ:AMSC) 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;

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Compensatory Arrangements of Certain Officers.

(e) Fiscal 20 Executive Incentive Plan. On May 21, 2020, the Compensation Committee of the Board of Directors (the “Committee”) of American Superconductor Corporation (the “Company”) and the Board of Directors of the Company approved an executive incentive plan for the Company’s fiscal year ending March 31, 2021 (“fiscal 20”). Participants in the plan include the Company’s chief executive officer and all other current executive officers. to the plan, each participant is designated a target cash incentive amount, expressed as a percentage of the participant’s base salary. The Committee is responsible for determining the payout under the plan to each participant except the chief executive officer. The Board of Directors of the Company determines the payout under the plan for the chief executive officer, taking into account the recommendation of the Committee.

The amount of the incentive award actually paid to each participant may be less than or greater than the participant’s target cash incentive, with the amount capped at 200% of the target incentive. For each participant, individual incentive awards will be determined following the end of fiscal 2020 based on the following factors and their corresponding weightings:

The following table sets forth the target cash incentive for fiscal 2020 for each current executive officer:

 

 

     
AMERICAN SUPERCONDUCTOR CORP /DE/ Exhibit
EX-10.1 2 ex_188140.htm EXHIBIT 10.1 ex_188140.htm Exhibit 10.1     Fiscal 2020 Executive Incentive Plan. On May 21,…
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About American Superconductor Corporation (NASDAQ:AMSC)

American Superconductor Corporation (AMSC) is a provider of megawatt-scale solutions. The Company operates through two segments: Wind and Grid. Through the Company’s Windtec Solutions brand, the Wind business segment enables manufacturers to field wind turbines. Through the Company’s Gridtec Solutions, the Grid business segment enables electric utilities and renewable energy project developers to connect, transmit and distribute power. AMSC supplies power electronics and control systems, licenses its engineered wind turbine designs and provides customer support services to wind turbine manufacturers. The Company provides a range of power electronics and software-based control systems. AMSC provides transmission planning services that enable it to identify power grid congestion and other risks. The Company also sells grid interconnection solutions for wind farms and solar power plants, power quality systems, and transmission and distribution cable systems.

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