ManTech International Corporation (NASDAQ:MANT) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
On March6, 2018, the Compensation Committee of the Board of Directors (Compensation Committee) of the Company approved the 2018 Executive Incentive Compensation Plan (2018 Plan), in which the Company’s executive officers, including the Company’s named executive officers (NEOs), participate. The 2018 Plan includes potential performance goals for participants based on the following criteria at each of the Company level and business group level: revenue; earnings before interest and taxes; and contract bookings. The inclusion and weighting of particular performance goals varies depending on the participant. The 2018 Plan provides for target incentive payment amounts for each of the executive officers that range from 75% to 85% of such officer’s 2018 base salaries. Based on actual results in 2018, the potential payouts under the 2018 Plan may range from 0% to 175% of the executive officers’ respective target incentive payment amounts. The description of the 2018 Plan set forth herein is qualified in its entirety by reference to the full text of the 2018 Plan, which is filed as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference.
On March6, 2018, the Compensation Committee approved grants of equity awards to our NEOs. The grants consisted of both stock options and time-based restricted stock units (RSUs). One-third of the RSUs vest on each of the first, second, and third anniversary of the date of the grant, subject in each case to the continued employment of the award recipient through the applicable vesting date. The RSUs were granted to the Company’s form of time-based RSU award agreement, which is filed as Exhibit 10.2 to this Current Report on Form 8-K and is incorporated herein by reference.
Item 9.01Financial Statements and Exhibits
(d) Exhibits
MANTECH INTERNATIONAL CORP ExhibitEX-10.1 2 mant-ex101_8.htm EX-10.1 mant-ex101_8.htm Exhibit 10.1 MANTECH INTERNATIONAL CORPORATION 2018 EXECUTIVE INCENTIVE COMPENSATION PLAN 1.0 OVERVIEW ManTech International Corporation (the “Company”) has established this 2018 Executive Incentive Compensation Plan (this “Plan”) to help attract,…To view the full exhibit click here
About ManTech International Corporation (NASDAQ:MANT)
ManTech International Corporation is a provider of technologies and solutions for national security programs for the intelligence community; the departments of Defense, State, Homeland Security, Health and Human Services, Veterans Affairs and Justice, including the Federal Bureau of Investigation (FBI); the space community, and other United States Government customers. The Company offers an array of information technology (IT) and technical services solutions under contracts with the United States Government. It supports national security missions and provides services to over 50 federal government agencies under approximately 1,000 contracts. Its solutions and services include cybersecurity; software and systems development; enterprise information technology; multi-disciplined intelligence; program protection and mission assurance; systems engineering; test and evaluation (T&E), and command, control, communications, computers, intelligence, surveillance and reconnaissance (C4ISR).