Capital Senior Living Corporation (NYSE:CSU) 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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Capital Senior Living Corporation (NYSE:CSU) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

Item5.02 Departure of Directors or Certain Officers; Election of
Directors; Appointment of Certain Officers; Compensatory
Arrangement of Certain Officers.

(e) Adoption of Compensatory Plan.

On March24, 2017, the Compensation Committee (the Compensation
Committee) of the Board of Directors of Capital Senior Living
Corporation (the Company) approved the Companys 2017 Incentive
Compensation Plan (the Plan). The Plan provides performance bonus
opportunities to members of the Companys executive management
team, including certain eligible named executive officers
(collectively, the Participants), based upon achievement of
corporate and individual goals established by the Compensation
Committee for the year ending December31, 2017.

to the Plan, the Companys Chief Executive Officer and Chief
Financial Officer are eligible to receive a target cash
performance bonus equal to 80% and 50%, respectively, of their
base salaries for 2017 based upon the Companys achievement of two
corporate goals for the year ending December31, 2017.

First, of that target cash bonus percentage attributable to
the achievement of corporate goals, 48% and 30% for our Chief
Executive Officer and Chief Financial Officer, respectively,
is based on the Companys achievement of a Cash Flow From
Operations (CFFO) per outstanding share target for 2017.
Achievement of the target level of CFFO per share will result
in the Companys Chief Executive Officer and Chief Financial
Officer receiving a bonus equal to 48% and 30%, respectively,
of their base salaries for 2017. Achievement of 85% of the
target level of CFFO per share will result in 50% of the
portion of the award subject to such performance target being
earned by the Participants. If this 85% threshold level of
CFFO per share performance is attained but the target level
is not attained, the earned portion of the award subject to
CFFO per share performance will be prorated between 50% and
50% based upon the actual CFFO per share results reported in
2017. Achievement of 115% of the target level of CFFO per
share will result in 150% of the portion of the award subject
to such performance target being earned by the Participants.
If this 115% maximum level of CFFO per share performance is
not attained but the target level is exceeded, the earned
portion of the award subject to CFFO per share performance
will be prorated between 50% and 150% based upon the actual
CFFO per share results reported in 2017.
Second, of that target cash bonus percentage attributable to
the achievement of corporate goals, 32% and 20% for our Chief
Executive Officer and Chief Financial Officer, respectively,
is based on the Companys achievement of an Adjusted EBITDAR
target for 2017. Achievement of the target level of Adjusted
EBITDAR will result in the Companys Chief Executive Officer
and Chief Financial Officer receiving a bonus equal to 32%
and 20%, respectively, of their base salaries for 2017.
Achievement of 85% of the target level of Adjusted EBITDAR
will result in 50% of the portion of the award subject to
such performance target being earned by the Participants. If
this 85% threshold level of Adjusted EBITDAR performance is
attained but the target level is not attained, the earned
portion of the award subject to Adjusted EBITDAR performance
will be prorated between 50% and 50% based upon the actual
Adjusted EBITDAR results reported in 2017. Achievement of
115% of the target level of Adjusted EBITDAR performance will
result in 150% of the portion of the award subject to such
performance target being earned by the Participants. If this
115% maximum level of Adjusted EBITDAR performance is not
attained but the target level is exceeded, the earned portion
of the award subject to Adjusted EBITDAR performance will be
prorated between 50% and 150% based upon the actual Adjusted
EBITDAR results reported in 2017.

In addition, the Companys Chief Executive Officer and Chief
Financial Officer are eligible to receive a cash performance
bonus of up to 30% and 20%, respectively, of their base salaries
for 2017 based upon the achievement of certain objective
individual goals for the year ending December31, 2017, which are
within such Participants sphere of influence, including a CFFO
per outstanding share performance target similar to that
described above for both the Companys Chief Executive Officer and
Chief Financial Officer and a general and administrative expenses
performance target for the Companys Chief Financial Officer.


About Capital Senior Living Corporation (NYSE:CSU)

Capital Senior Living Corporation is an operator of senior living communities in the United States in terms of resident capacity. The Company operates over 10 senior living communities in approximately 20 states, including over 70 senior living communities, which the Company owns and over 50 senior living communities the Company leases. The Company also operates a home care agency. The Company provides senior living services to the elderly, including independent living and assisted living services, and also provides home care services at one of its communities. The Company also fosters the wellness of its residents by offering access to health screenings, such as blood pressure checks; periodic special services, such as influenza inoculations; dietary and similar programs, as well as ongoing exercise and fitness classes. It offers a range of assisted living care and services, including personal care services, around the clock staffing, support services and supplemental services.

Capital Senior Living Corporation (NYSE:CSU) Recent Trading Information

Capital Senior Living Corporation (NYSE:CSU) closed its last trading session up +0.13 at 13.57 with 297,357 shares trading hands.