CSRA INC. (NYSE:CSRA) 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.>
Agreement with its Chief Executive Officer, Lawrence B. Prior III
(the Employment Agreement). The Employment Agreement provides for
an initial term of 3 years, with the possibility of a one-year
extension by mutual agreement of the parties. The Employment
Agreement provides for a base salary of $950,000 and a target
annual bonus equal to 125% of the base salary. The Employment
Agreement also provides for Mr. Prior to participate in equity
and other long-term incentive plans on terms and conditions that
are appropriate to his positions and responsibilities, and for a
one-time grant of restricted stock units with respect to
$2,250,000 shares of Company stock vesting 50% on the second
anniversary of the grant date and 50% on the third anniversary of
the grant date, subject to full acceleration in the event of
actual or constructive involuntary termination or of a change in
control of the Company and partial acceleration upon retirement
after age 62. The Employment Agreement also provides severance
benefits in the amount of two times base salary, and enhanced
severance benefits following a change in control in the amount of
two and one-half times base salary plus target bonus. The
Employment Agreement provides for a 12 month non-competition and
non-solicitation period following termination of employment for
any reason.
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Exhibit No.
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Description
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99.1
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Employment Agreement, dated December 20, 2016, between
the Company and Lawrence B. Prior III. |
About CSRA INC. (NYSE:CSRA)
CSRA Inc. is a provider of information technology services to the United States federal government. The Company operates through two segments: Defense and Intelligence, and Civil. The Defense and Intelligence segment provides services to the Department of Defense (DoD), National Security Agency, branches of the Armed Forces, and other DoD and Intelligence agencies. The Civil segment provides services to various federal agencies within the Department of Homeland Security (the DHS), Department of Health and Human services, and other federal civil agencies, as well as various state and local government agencies. It supplies civil government agencies with mission information systems and associated technical support services. It provides its customers with technical services across service areas, including Digital Services, Enterprise Business Services, Digital Platforms, Cyber, Data Science, and Professional and Citizen Services. It has conducted operations in over 130 locations. CSRA INC. (NYSE:CSRA) Recent Trading Information
CSRA INC. (NYSE:CSRA) closed its last trading session 00.00 at 32.27 with 652,420 shares trading hands.
