Hostess Brands, Inc. (NASDAQ:TWNK) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

ME Staff 8-k
-
0

Hostess Brands, Inc. (NASDAQ:TWNK) 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.
(e) The Board of Directors (the “Board”) of Hostess Brands, Inc. (the “Company”), approved the promotion of Andrew W. Jacobs, the Company’s Senior Vice President and Chief Customer Officer, to Executive Vice President and Chief Commercial Officer, effective June 1, 2017. In connection with such promotion, Mr. Jacobs received an increase in his annual base salary to $403,000 and his target bonus as a percentage of base salary to 75%. He also received an award of options to purchase 120,000 shares of the Company’s Class A common stock and 15,000 performance share units (“PSUs”), containing the same performance criteria as the PSUs awarded to the Company’s named executive officers in the first quarter of 2017.