POOL CORPORATION (NASDAQ:POOL) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02 Departure of Directors or Certain Officers; Election of
Directors; Appointment of Certain Officers; Compensatory
Arrangements of Certain Officers.
announced that Mr. Peter D. Arvan, 51, will be joining the
company as Executive Vice President, effective January 3, 2017.
Mr. Arvan served as Chief Executive Officer of Roofing Supply
Group (RSG) from 2013 to 2015. Prior to joining RSG in 2013, Mr.
Arvan served as President of SABIC Polymershapes (formerly GE
Plastics – Polymershapes), a position he held since 2004.
director, executive officer or other person that would require
disclosure under Item 401(d) of Regulation S-K under the
Securities Act of 1933 (Regulation S-K). Since the beginning of
the Companys last fiscal year, the Company has not engaged in any
transaction in which Mr. Arvan had a direct or indirect material
interest within the meaning of Item 404(a) of Regulation S-K.
base salary of $400,000, participate in the Companys Executive
Officer Annual Incentive Plan (AIP) and Strategic Plan Incentive
Program (SPIP), and receive an equity grant valued at
approximately $1,500,000 upon his first date of employment and in
2018 and 2019. In the event that Mr. Arvan is terminated without
cause (as defined in the employment agreement), he will be
entitled to receive the following severance payments: salary
continuation for six months, pro rata portions of equity grants
received in 2017 and 2018 and in the event termination occurs
prior to January 1, 2019, any unpaid awards under the AIP and
SPIP. Finally, the employment agreement provides that Mr. Arvan
will be subject to certain restrictive covenants regarding
competition and solicitation during the term of the agreement and
for two years thereafter.
purport to be a complete statement of the parties rights under
the employment agreement and is qualified in its entirety by the
full text of the employment agreement, a copy of which will be
filed as an exhibit to the Companys annual report on Form 10-K
for the year ending December 31, 2016.
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(d)
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Exhibits
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99.1
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Press release issued by Pool Corporation on December
21, 2016, announcing the appointment of Peter D. Arvan as Executive Vice President. |
About POOL CORPORATION (NASDAQ:POOL)
Pool Corporation is a distributor of swimming pool supplies, equipment and related leisure products. The Company is also a distributor of irrigation and landscape products in the United States. The Company operates over 340 sales centers in North America, Europe, South America and Australia through its over four distribution networks, such as SCP Distributors (SCP), Superior Pool Products (Superior), Horizon Distributors (Horizon) and National Pool Tile (NPT). The Company’s product offerings include building materials used for pool construction, installations and remodeling, such as concrete and pool surfacing and decking materials. The Company’s products also include maintenance products, repair and replacement parts for pool equipment, packaged pool kits, pool equipment and components for pool construction, and irrigation and landscape products, among others. The Company offers its customers over 160,000 national brand and Pool Corporation branded products. POOL CORPORATION (NASDAQ:POOL) Recent Trading Information
POOL CORPORATION (NASDAQ:POOL) closed its last trading session down -0.16 at 106.00 with 296,501 shares trading hands.