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 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 |
| (e) |
On March7, 2017, the Compensation Committee of the Board of Directors (Compensation Committee) of the Company approved the 2017 Executive Incentive Compensation Plan (2017 Plan), in which the Companys executive officers, including the Companys named executive officers (NEOs), participate. The 2017 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 2017 Plan provides for target incentive payment amounts for each of the executive officers that range from 75% to 85% of such officers 2017 base salaries. Based on actual results in 2017, the potential payouts under the 2017 Plan may range from 0% to 175% of the executive officers respective target incentive payment amounts. The description of the 2017 Plan set forth herein is qualified in its entirety by reference to the full text of the 2017 Plan, which is filed as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference. |
On March7, 2017, the Compensation Committee approved incentive
bonus awards in the form of performance-based restricted stock
units (RSUs) to certain Company employees,
including certain of the Companys NEOs. The RSUs are for a target
number of restricted stock units, with the actual number of RSUs
earned to be determined upon the satisfaction of performance
criteria over the performance period for the award. The
performance period is from January1, 2017 through December31,
2018. The performance criteria used are compounded average growth
rates for the Companys revenue and earnings per share over the
performance period. Based on actual results, the actual amount of
RSUs earned may range from 0% to 150% of the NEOs respective
target award amount. The RSUs were granted to the Companys form
of performance-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.
| Item9.01 | Financial Statements and Exhibits |
(d) Exhibits
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Exhibit No. |
Description of Exhibit |
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| 10.1 |
ManTech International Corporation 2017 Executive Incentive Compensation Plan |
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| 10.2 |
Form of Performance-Based Restricted Stock Unit Award Agreement |
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). ManTech International Corporation (NASDAQ:MANT) Recent Trading Information
ManTech International Corporation (NASDAQ:MANT) closed its last trading session up +0.16 at 35.98 with 208,514 shares trading hands.