BLUCORA, INC. (NASDAQ:BCOR) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
BLUCORA, INC. (NASDAQ:BCOR) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
On February 2, 2017, the Compensation Committee of the Board of Directors of Blucora, Inc. (the Company) approved the 2017 Executive Bonus Plan (the 2017 Plan). The 2017 Plan provides for annual performance-based cash bonuses to the Companys executive officers. The target bonus amount for individual executive officers varies between 50% and 200% of each executives annual base salary.
The available bonus for each executive is based on the Companys achievement of certain specified financial or operational performance measurements. The specific measures for the financial or operational performance components vary by executive, but may include overall Company Revenue and Adjusted EBITDA (as further specified in the 2017 Plan) and/or certain measurements that are specific to the business unit for which the individual executive is responsible.
The performance targets established for the 2017 Bonus Plan correspond to the operating plan targets approved by the Companys Board of Directors. The range of possible bonus component achievement is 0% to 150% of the target. The 2017 Plan further provides, however, that the 2017 bonus payments for the new President of TaxAct and the new Chief Executive Officer of HD Vest will be pro-rated to reflect the number of days of the executives employment in 2017 and will be no lower than the pro-rated amount of the executives target bonus.
The foregoing description of the 2017 Plan is qualified in its entirety by reference to the full text of this plan, a copy of which is filed as Exhibit 10.1 hereto and incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits
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Exhibit 10.1
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2017 Executive Bonus Plan
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About BLUCORA, INC. (NASDAQ:BCOR)
Blucora, Inc. is a provider of technology-enabled financial solutions to consumers, small business owners and tax professionals. The Company operates through two segments: the Wealth Management, which consists of the HD Vest, Inc. (HD Vest) business, and the Tax Preparation, which consists of the TaxAct, Inc. (TaxAct) business. Its Wealth Management segment distributes products and services through financial advisors. HD Vest provides financial advisors with an integrated platform of brokerage, investment advisory and insurance services to assist in making each financial advisor a financial service center for his/her clients. Its Tax Preparation segment provides digital do-it-yourself tax preparation solutions for consumers, small business owners and tax professionals. TaxAct provides digital tax preparation solutions. It also offers a range of tax preparation solutions and online lead generation capabilities to enable the filing of over 60 million federal consumer tax returns. BLUCORA, INC. (NASDAQ:BCOR) Recent Trading Information
BLUCORA, INC. (NASDAQ:BCOR) closed its last trading session down -0.40 at 14.70 with 144,740 shares trading hands.
Blucora, Inc. is a provider of technology-enabled financial solutions to consumers, small business owners and tax professionals. The Company operates through two segments: the Wealth Management, which consists of the HD Vest, Inc. (HD Vest) business, and the Tax Preparation, which consists of the TaxAct, Inc. (TaxAct) business. Its Wealth Management segment distributes products and services through financial advisors. HD Vest provides financial advisors with an integrated platform of brokerage, investment advisory and insurance services to assist in making each financial advisor a financial service center for his/her clients. Its Tax Preparation segment provides digital do-it-yourself tax preparation solutions for consumers, small business owners and tax professionals. TaxAct provides digital tax preparation solutions. It also offers a range of tax preparation solutions and online lead generation capabilities to enable the filing of over 60 million federal consumer tax returns. BLUCORA, INC. (NASDAQ:BCOR) Recent Trading Information
BLUCORA, INC. (NASDAQ:BCOR) closed its last trading session down -0.40 at 14.70 with 144,740 shares trading hands.