Cubic Corporation (NYSE:CUB) 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.
Effective October1, 2017, the Board of Directors (the “Board”) of Cubic Corporation (the “Company”) appointed Anshooman Aga as Executive Vice President and Chief Financial Officer of the Company, replacing John D. Thomas. Mr.Aga has served as the Executive Vice President, Finance of the Company since July2017.
In connection with his appointment, Mr.Aga’s compensation package remains unchanged from the compensation package outlined in his offer letter executed in connection with his commencement of employment with the Company (the “Offer Letter”). He will continue to be paid an annual salary of $400,000 and his target annual bonus will be equal to 60% of his annual base salary. to the Offer Letter, Mr.Aga is also eligible to receive relocation and home purchase assistance for one year from his commencement of employment, subject to the requirement that he repay any such assistance in the event he voluntarily terminates his employment prior to the second anniversary of his commencement of employment. Mr.Aga will be eligible for an annual award of restricted stock units with a target value of $500,000 for fiscal year 2018 to the Company’s long-term incentive plan. Mr.Aga will also participate in the Company’s Transition Protection Plan.
Mr.Aga has served as Executive Vice President, Finance of the Company since July2017. Prior to joining the Company, from June2015 to July2017, Mr.Aga was Senior Vice President and Chief Financial Officer of AECOM’s multi-billion dollar Design and Consulting Services (DCS) business in the Americas. He also held a series of financial leadership positions at Siemens, including CFO of the Energy Automation business based in Nuremburg, Germany, from October2012 to May2015, in addition to similar Chief Financial Officer roles for Siemen’s Rail Electrification and TurboCare business units, from October2011 to September2012. Mr.Aga holds a Masters of Business Administration with honors from Rollins College, where he majored in Accounting and Finance, as well as a Bachelor of Science in Finance from Troy University, where he graduated summa cum laude.
There are no family relationships between Mr.Aga and any director or executive officer of the Company, and he has no direct or indirect material interest in any transaction required to be disclosed to Item 404(a)of Regulation S-K.
The foregoing description of the Offer Letter does not purport to be complete and is qualified in its entirety by reference to the full text of the Offer Letter, which will be filed as an exhibit to the Company’s Annual Report on Form10-K to be filed with respect to the fiscal year ending September30, 2017.
About Cubic Corporation (NYSE:CUB)
Cubic Corporation (Cubic) designs, integrates and operates systems, products and services that provide situational awareness for its customers in the transportation and defense industries. The Company operates in three business segments across the global transportation and defense markets, which include Cubic Transportation Systems (CTS), Cubic Global Defense (CGD) and Cubic Global Defense Services (CGD Services). The Company’s CTS segment is a systems integrator of payment and information technology and services for travel solutions. The Company’s CGD Systems is focused on two primary lines of business: training systems and secure communications (SC) products. The Company’s CGD Services segment is a provider of training, operations, intelligence, maintenance, technical and other support services to the United States government and its agencies and allied nations. It also provides cross-domain hardware solutions to address multi-level security challenges across common networks.