Kraton Corporation (NYSE:KRA) 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.
Interim Chief Financial Officer Supplemental Award
On December 5, 2018, the Compensation Committee of the Board of Directors of Kraton Corporation ("Kraton") approved the grant of a supplemental award (“Award”) to Christopher H. Russell in recognition of the additional responsibilities assumed by him as a result of his previously disclosed appointment as Kraton's interim principal financial officer. The Award consists of (1) a cash component, in an annualized amount of $125,000, to be paid in equal installments in accordance with Kraton's regular payroll practices and to be included as a component of salary for purposes of annual cash incentive compensation and current benefit elections, and (2) a grant of restricted stock awards ("RSA") in an amount of $100,000. The RSAs, granted on December 5, 2018, will vest in full on the first anniversary of the grant date, subject to Mr. Russell's continued employment with Kraton, and all other terms are consistent with Kraton's form of RSA award agreement previously filed with the U.S. Securities and Exchange Committee. The cash component of the Award is effective as of November 16, 2018 and the Compensation Committee reserves the right to terminate the cash component of the Award at any time in their sole discretion.
About Kraton Corporation (NYSE:KRA)
Kraton Corporation, formerly Kraton Performance Polymers, Inc., is a specialty chemicals company. The Company manufactures styrenic block copolymers (SBCs) and other engineered polymers. The Company also produces specialty products primarily derived from pine wood pulping co-products. It operates through the manufacturing and marketing of engineered polymers segment. Its SBCs are used in a range of applications, including adhesives, coatings, consumer and personal care products, sealants, lubricants, medical, packaging, automotive, paving, roofing and footwear products. It also sells isoprene rubber (IR) and isoprene rubber latex (IRL), which are non-SBC products primarily used in applications, such as medical products, personal care, adhesives, tackifiers, paints and coatings.