OFFICE DEPOT, INC. (NASDAQ:ODP) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02
On December 23, 2016, the Compensation Committee of Office Depot, Inc. (the “Company”) approved amendments to certain outstanding awards made under the Company’s long-term incentive plans to the Company’s Executive Vice President and Chief Financial Officer, Stephen Hare. The amendments permit continued vesting on outstanding RSUs awarded in fiscal years 2016 and 2017 and outstanding PSUs awarded in fiscal years 2016 and 2017 (the “Eligible PSUs”) in the event the executive voluntarily terminates his employment with the Company after March 31, 2018. Any payout in the Eligible PSUs will be based on actual performance as certified by the Compensation Committee.
Payment of each amended award will be made in accordance with the applicable award agreement’s existing payment schedule and, except as described in this Current Report, all other terms related to such awards will continue to apply.
About OFFICE DEPOT, INC. (NASDAQ:ODP)
Office Depot, Inc. (Office Depot) is a provider of office products and services. The Company sells products and services to consumers through three segments: North American Retail Division, North American Business Solutions Division and International Division. It operates under the Office Depot and OfficeMax brands. It also offers products under various labels, including Foray, Ativa, TUL, WorkPro, Brenton Studio, Highmark, Grand & Toy and Viking Office Products. It offers its products under supplies, technology, furniture and other categories. The supplies category includes products, such as paper, binders and school supplies. The technology category includes products, such as desktop and laptop computers, monitors, cables, software, telephones and wireless communications products, as well as services for technology products. The furniture and other category include products, such as desks, chairs, luggage, sales in its copy and print centers, and other miscellaneous items. OFFICE DEPOT, INC. (NASDAQ:ODP) Recent Trading Information
OFFICE DEPOT, INC. (NASDAQ:ODP) closed its last trading session up +0.04 at 4.70 with 2,789,464 shares trading hands.