HUBBELL INCORPORATED (NYSE:HUBB) 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.
Hubbell Incorporated (the Company) amended and restated the
Hubbell Incorporated 2005 Incentive Award Plan (as amended and
restated, the Plan) to remove the single-trigger
change-in-control vesting provision.
December 6, 2016 will no longer automatically become vested and
payable upon the occurrence of a change in control (as defined in
the Plan). Instead, upon a change in control an award granted on
or after December 6, 2016 (other than any portion subject to
performance-based vesting) will continue in effect or be assumed
or substituted by a successor corporation, unless the Committee
(as defined in the Plan) elects to terminate an award or cause
such award to become fully vested. The portion of such award
subject to performance-based vesting will be subject to the terms
and conditions of the applicable award agreement and, in the
absence of applicable terms and conditions, the Committees
discretion. If an award continues in effect or is assumed or
substituted and a participant incurs a termination of employment
or service without cause upon or within twelve (12) months
following the change in control, then such award will become
fully vested. If a successor corporation refuses to assume or
substitute an award, the Committee may cause such award to
terminate in exchange for cash, rights or other property or cause
such award to become fully exercisable immediately prior to the
consummation of such change in control.
is qualified in its entirety by reference to the full text of the
Plan, which is attached hereto as Exhibit 10.1 and incorporated
by reference herein.
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EXHIBIT NO.
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DOCUMENT DESCRIPTION
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10.1
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Amended and Restated Hubbell Incorporated 2005
Incentive Award Plan |
About HUBBELL INCORPORATED (NYSE:HUBB)
Hubbell Incorporated is engaged in the design, manufacture and sale of electrical and electronic products for a range of non-residential and residential construction, industrial and utility applications. The Company operates through two segments: Electrical and Power. The Electrical segment consists of electrical systems products and lighting products. The Power segment consists of operations that design and manufacture various distribution, transmission, substation and telecommunications products used by the electrical utility industry. Its businesses also design and manufacture various high-voltage test and measurement equipment, industrial controls and communication systems used in the non-residential and industrial markets. Its wiring and electrical products include cable reels, wiring devices and accessories, junction boxes, plugs and receptacles, cable glands and fittings, switches and dimmers. It offers a range of light-emitting diode (LED) luminaire products. HUBBELL INCORPORATED (NYSE:HUBB) Recent Trading Information
HUBBELL INCORPORATED (NYSE:HUBB) closed its last trading session 00.00 at 116.25 with 284,802 shares trading hands.
