GENTHERM INCORPORATED (NASDAQ:THRM) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

GENTHERM INCORPORATED (NASDAQ:THRM) 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

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Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

On October 3, 2017 (the “Grant Date”), Gentherm Incorporated (the “Company”) entered into Restricted Stock Award Agreements under the 2013 Equity Incentive Plan with six of its executive officers in the form attached hereto as Exhibit10.1, which is incorporated herein by reference (the “Restricted Stock Award Agreements”). The following description of the material terms of the Restricted Stock Award Agreements is qualified in its entirety by reference to such exhibit.

On the Grant Date, the following number of shares were granted to the following executive officers (the “Participants”) under the Restricted Stock Award Agreements:

Frithjof Oldorff

10,865

Darren Schumacher

9,928

Ken Phillips

9,459

Barry Steele

9,398

Erin Ascher

7,322

Ryan Gaul

6,391

Each Restricted Stock Award Agreement provides that the shares granted are subject to forfeiture if the Participant’s employment with the Company terminates prior to the 18 month anniversary of the Grant Date (the “Vesting Date”).If the Participant remains employed by the Company through and including the Vesting Date, or if the Participant’s employment with the Company is terminated prior to the Vesting Date without Cause or for Good Reason (each as defined in the Restricted Stock Award Agreements), then the shares granted shall immediately vest and no longer be subject to possible forfeiture; provided that, in the case of acceleration upon termination, the participant’s right to receive such accelerated vesting is conditioned upon execution of a general release of claims, which becomes irrevocable, for the benefit of the Company.

Item 9.01

Financial Statements and Exhibits.

(d)Exhibits


GENTHERM Inc Exhibit
EX-10.1 2 thrm-ex101_6.htm EX-10.1 thrm-ex101_6.htm EXHIBIT 10.1   GENTHERM INCORPORATED 2013 Equity Incentive Plan   Restricted Stock Award Agreement Gentherm Incorporated,…
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About GENTHERM INCORPORATED (NASDAQ:THRM)

Gentherm Incorporated (Gentherm) is a global technology company, which is engaged in the design, development, and manufacturing of innovative thermal management technologies and automotive cable systems. The Company has two segments: Automotive and Industrial. The Automotive segment comprises Gentherm’s three geographic operating segments: North America, Europe and Asia. The Industrial segment represents the combined results from its remote power generation systems business for industrial applications and its advanced research and product development division, which is researching and developing products for a range of different markets. Its products include Climate Control Seats (CCSs), Heated Seats, Battery Thermal Management (BTM) solutions, remote electric power generation systems, heated and cooled cup holder, thermal storage bin, Heated Steering Wheel, Heated Door and Armrest, and Heated and Cooled Mattress.

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