HILL INTERNATIONAL,INC. (NYSE:HIL) 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.
On August17, 2018, the Board of Directors (the “Board”) appointed Raouf S. Ghali as Chief Executive Officer of Hill International,Inc. (the “Company”), effective as of October1, 2018. In addition to his role as Chief Executive Officer, Mr.Ghali will continue to serve as a member of the Board.
Also on August17, 2018, the Board approved the termination of Mr.Ghali’s former Employment Agreement, and the Company and Mr.Ghali entered into a written termination agreement with respect to his former Employment Agreement. Further, the Board approved the following new compensation terms, also effective October1, 2018:
· Grant of $900,000 annually in shares of the Company’s common stock, 50% of which will be performance based (as determined by the Board) and 50% of which will be time vested; and
· Participation in the Company’s 2016 Executive Retention Plan, to which Mr.Ghali will be entitled to severance equal to two times his annual base salary under certain circumstances.
Following the appointment of Mr.Ghali as the Company’s CEO, Paul J. Evans, the Company’s Interim CEO, will continue to serve as a director on the Board.
On August20, 2018, the Company issued a press release regarding the appointment of Mr.Ghali as Chief Executive Officer, a copy of which is furnished as Exhibit99.1 to this Current Report on Form8-K.
Item 9.01. Other Events.
Press Release of the Company, dated August20, 2018.