RAVEN INDUSTRIES, INC. (NASDAQ:RAVN) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
On July 12, 2018, Raven Industries, Inc. (the "Company") announced that Ms. Janet Holloway and Ms. Lois Martin have been elected to the Board of Directors of the Company effective July 11, 2018, and the Board will be expanded to nine Directors. The Board appointed Ms. Holloway to serve on its Personnel & Compensation Committee and Governance Committee. Ms. Martin was appointed to the Audit Committee and Governance Committee. Ms. Holloway and Ms. Martin will receive compensation for their Board service consistent with the compensation received by Raven’s other non-employee directors, as disclosed in the Raven Industries Schedule 14A, Definitive Proxy Statement filed on April 5, 2018, with such amounts for the current year pro-rated from the commencement of their service on the Board to the date of the 2019 annual shareholders meeting.
At the same time, the Company’s Board approved an amendment and restatement of the Deferred Stock Compensation Plan for Directors of Raven Industries, Inc. to provide for the issuance of a pro-rated stock unit award, along with the pro-rated cash retainer, for directors who join the Board in between annual shareholders meetings.
A copy of the press release announcing the appointment of the directors is attached hereto as Exhibit 99.1 and the Deferred Stock Compensation Plan for Directors of Raven Industries, Inc. (As Amended and Restated Effective July 11, 2018) is attached hereto as Exhibit 10.1.
Item 9.01. Financial Statements and Exhibits
Deferred Stock Compensation Plan for Directors of Raven Industries, Inc. (As Amended and Restated Effective July 11, 2018)
Press Release Dated July 12, 2018
RAVEN INDUSTRIES INC ExhibitEX-10.1 2 exh101deferredstockcompens.htm EXHIBIT 10.1 Exhibit EXHIBT 10.1DEFERRED STOCK COMPENSATION PLANFOR DIRECTORS OF RAVEN INDUSTRIES,…To view the full exhibit click
About RAVEN INDUSTRIES, INC. (NASDAQ:RAVN)
Raven Industries, Inc. is a diversified technology company providing a range of products to customers within the industrial, agricultural, energy, construction and defense markets. The Company operates through three segments: Applied Technology Division (Applied Technology), Engineered Films Division (Engineered Films) and Aerostar Division (Aerostar). The Applied Technology segment designs, manufactures, sells and services precision agriculture products and information management tools for growers. The Engineered Films segment produces plastic films and sheeting for energy, agricultural, construction, geomembrane and industrial applications. The Aerostar segment designs and manufactures products, including balloons, tethered aerostats and radar processing systems. It conducts business through its subsidiaries, including Aerostar International, Inc. (Aerostar), Vista Research, Inc. (Vista), Raven International Holding Company BV (Raven Holdings) and Raven Industries Canada, Inc.