MKS Instruments, Inc. (NASDAQ:MKSI) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02 (e) Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Compensation for Named Executive Officers
The Compensation Committee of the Board of Directors has established the annual salaries, annual cash bonus targets and values of restricted stock unit awards for 2018 for the Company’s Named Executive Officers. These amounts are as follows:
| Annual Salary | AnnualCash BonusTarget(1) (%ofAnnual Salary) | Value ofTime-BasedRestrictedStock Unit
Awards (2) |
Value ofPerformance-BasedRestrictedStockUnitAwards
at Target (2)(3) |
|||||
|
Gerald G. Colella, Chief Executive Officer and President |
$ | 1,000,000 | % | $ | 1,750,000 | $ | 2,250,000 | |
|
Seth H. Bagshaw, Sr. Vice President, Chief Financial Officer and Treasurer |
$ | 510,000 | % | $ | 650,000 | $ | 750,000 | |
|
John T.C. Lee, Sr. Vice President and Chief Operating Officer |
$ | 541,000 | % | $ | 650,000 | $ | 650,000 | |
|
Brian C. Quirk, Sr. Vice President of Global Operations |
$ | 397,000 | % | $ | 250,000 | $ | 250,000 | |
|
Dennis L. Werth, Sr. Vice President of Business Units |
$ | 459,000 | % | $ | 350,000 | $ | 350,000 |
| (1) | Annual cash bonus is capped at 200% of annual cash bonus target. |
| (2) | The restricted stock units are subject to the terms and conditions of the Company’s 2014 Stock Incentive Plan. Restricted stock units are awarded effective February15, 2018 based on the Nasdaq closing price of the Company’s Common Stock on February15, 2018. |
| (3) | The value of each performance-based restricted stock unit award is capped at 150% of the target award. |
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About MKS Instruments, Inc. (NASDAQ:MKSI)
MKS Instruments, Inc. (MKS) is a provider of instruments, subsystems and process control solutions that measures, controls, powers, monitors and analyzes critical parameters of advanced manufacturing processes to improve process performance and productivity. The Company operates through segments, including Advanced Manufacturing Capital Equipment, which includes the development, manufacturing and sales of instruments, control and vacuum products, power and reactive gas products; Global Service, which includes the worldwide servicing of instruments, control and vacuum products, power and reactive gas products and certain other product groups; Asia Region Sales, which includes sales of products that are re-sold from the Advanced Manufacturing Capital Equipment and Other segments into Asia regions, and Other. The Company groups its products into three groups, including instruments, control and vacuum products; power and reactive gas products, and analytical solutions group products.