NUANCE COMMUNICATIONS, INC. (NASDAQ:NUAN) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item5.02 Departure of Directors or Certain Officers; Election of
Directors; Appointment of Certain Officers; Compensatory
Arrangements of Certain Officers.
On November 18, 2016, the Compensation Committee of the Board of
Directors of Nuance Communications, Inc. (the Company) granted
restricted stock awards to the Companys eligible Named Executive
Officers(1) for the achievement of fiscal year 2016 objectives
for non-plan incentive bonuses. The performance objectives were
set by the Compensation Committee earlier in fiscal year 2016 and
related to key corporate-level financial objectives. The
following table reflects the on-target bonus levels, the bonuses
as expressed as a percentage of target, the associated dollar
value of the actual earned awards and the associated restricted
share awards for the eligible Named Executive Officers. For the
purposes of clarity, the dollar amounts shown were not actually
paid to the Named Executive Officers. The restricted stock awards
(having an equal value based on the fair market value of the
Companys shares on the grant date) were paid in lieu of cash.
|
Name |
Fiscal2016 TargetBonus Amount($)(2) | Fiscal 2016 TotalApproved Bonus (%) | Fiscal2016 TotalApproved Bonus($) | RestrictedShare Awards (3) | ||||||||||||
|
Paul A. Ricci |
$ | 1,200,000 | % | $ | 1,200,000 | 70,963 | ||||||||||
|
Bruce Bowden |
$ | 300,000 | % | $ | 300,000 | 17,740 | ||||||||||
|
Daniel Tempesta |
$ | 300,000 | % | $ | 300,000 | 17,740 |
| (1) |
Mr. Robbins, who had been a Named Executive Officer, was not eligible for non-plan incentive bonus-based stock award due to his separation from the Company. |
| (2) |
The amounts reflected in this column represent the target payout to each Named Executive Officer if his bonus had been achieved at 50%. |
| (3) |
Bonuses for fiscal year 2016 were paid in restricted stock awards, as further detailed in the above table. The number of restricted stock awards was determined by dividing the approved bonus amount by the closing price of the Companys common stock on November 18, 2016. The restricted stock awards were granted on November 18, 2016 and will vest in full on December 2, 2016. |
About NUANCE COMMUNICATIONS, INC. (NASDAQ:NUAN)
Nuance Communications, Inc. is a provider of voice recognition solutions and natural language understanding technologies. The Company operates through four segments: Healthcare; Mobile and Consumer; Enterprise, and Imaging. The Company offers its customers solutions in automated speech recognition; capabilities for natural language understanding; dialog and information management; biometric speaker authentication; text-to-speech; optical character recognition (OCR) capabilities, and domain knowledge, along with professional services and implementation support. The Company markets and sells its solutions and technologies around the world directly through a sales force; through its e-commerce Website, and also through a global network of resellers, including system integrators, independent software vendors, hardware vendors and telecommunications carriers. It offers a range of new digital engagement offerings, including live chat, customer analytics and personalization solutions. NUANCE COMMUNICATIONS, INC. (NASDAQ:NUAN) Recent Trading Information
NUANCE COMMUNICATIONS, INC. (NASDAQ:NUAN) closed its last trading session down -0.02 at 16.84 with 3,568,491 shares trading hands.