(e) On December19, 2017, the Compensation Committee of the Board of Directors of LKQ Corporation (the “Company”) met to consider 2018 compensation for our executive officers. The Compensation Committee's determinations with respect to 2018 executive officer compensation were materially consistent with prior period compensatory plans, contracts and arrangements for our executive officers, except for the authorization of a grant to John S. Quinn, Chief Executive Officer and Managing Director of LKQ Europe, of restricted stock units with a value equal to $1 million that will vest on the later of (i) the earlier of (a) the one-year anniversary of the closing of the pending acquisition by a subsidiary of the Company of Stahlgruber GmbH, and (b) the termination of the agreement to acquire Stahlgruber GmbH, and (ii) the attainment of certain LKQ Europe personnel goals established by Mr. Quinn and the Chief Executive Officer of the Company.
About LKQ CORPORATION (NASDAQ:LKQ)
LKQ Corporation (LKQ) is a global distributor of vehicle products, including replacement parts, components and systems used in the repair and maintenance of vehicles, as well as specialty vehicle products and accessories. The company distributes a range of products to collision and mechanical repair shops, including aftermarket collision and mechanical products, and recycled collision and mechanical products. It operates through four segments: Wholesale – North America; Europe; Specialty, and Self Service. Its wholesale automobile product operations sell five product types (aftermarket, recycled, remanufactured, refurbished and original equipment manufacturers (OEMs) parts). The European wholesale operating segment includes Euro Car Parts Holdings Limited (ECP). The Specialty operating segment includes Keystone Automotive Holdings, Inc. (Keystone Specialty). The Company’s self service segment retail operations sell parts from older cars and light-duty trucks directly to consumers.