HUNTINGTON INGALLS INDUSTRIES, INC. (NYSE:HII) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item5.02
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Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
(b)(e)On May3, 2017, Huntington Ingalls Industries, Inc. (the
Company) announced that Matthew J. Mulherin, Executive Vice
President and President, Newport News Shipbuilding, will retire
from his position effective July1, 2017. In connection with
Mr.Mulherins retirement, the Compensation Committee of the
Companys Board of Directors approved an amendment of the terms
and conditions of Mr.Mulherins Restricted Performance Stock
Rights (RPSRs) to provide for immediate vesting of the RPSRs at
the time of his retirement from the Company, subject to
continuation of the performance periods through the respective
remaining terms of the performance periods (2017, 2018 and 2019),
as set forth in the terms and conditions of the RPSRs.Mr.Mulherin
will remain with the Company in a non-executive officer position
to assist with transition until his retirement from the Company
effective August1, 2017.The foregoing description of the
amendment of the terms and conditions of Mr.Mulherins RPSRs is
qualified by reference to the full text of the Amendment, which
is filed as an exhibit to this Form 8-K and incorporated by
reference.
A copy of the press release announcing the foregoing actions is
furnished as Exhibit 99.1 to this Form 8-K and incorporated by
reference.
| Item9.01 | Financial Statements and Exhibits. |
| (d)Exhibits. |
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Exhibit No. |
Description |
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| 10.1 |
Amendment to Terms and Conditions Applicable to 2015, 2016 and 2017 Restricted Performance Stock Rights of Matthew J. Mulherin. |
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| 99.1 | Press Release, dated May3, 2017. |
About HUNTINGTON INGALLS INDUSTRIES, INC. (NYSE:HII)
Huntington Ingalls Industries, Inc. (HII) designs, builds, overhauls and repairs ships for the United States Navy and the United States Coast Guard. The Company is the designer, builder and refueler of nuclear powered aircraft carriers, a builder of amphibious assault and expeditionary warfare ships for the United States Navy and the sole builder of National Security Cutters (NSCs) for the United States Coast Guard. The Company operates its shipbuilding business through Huntington Ingalls Incorporated subsidiary, which is organized into two segments: Ingalls Shipbuilding (Ingalls), which includes non-nuclear ship design, construction, repair and maintenance businesses, and Newport News Shipbuilding (Newport News), which includes the nuclear ship design, construction, overhaul, refueling, and repair and maintenance businesses. It designs and builds nuclear-powered submarines for the United States Navy and builds the Navy’s fleet of DDG51 Arleigh Burke-class destroyers. HUNTINGTON INGALLS INDUSTRIES, INC. (NYSE:HII) Recent Trading Information
HUNTINGTON INGALLS INDUSTRIES, INC. (NYSE:HII) closed its last trading session down -12.84 at 188.21 with 1,156,048 shares trading hands.