SKYLINE CORPORATION (NYSEMKT:SKY) 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 July13, 2017, Skyline Corporation’s President and Chief Executive Officer, Richard W. Florea, was granted 47,000 options for common stock to Skyline Corporation’s 2015 Stock Incentive Plan (“2015 SIP”). The options will vest in five equal installments of 9,400 shares annually on July13, 2018, 2019, 2020, 2021 and 2022. In addition, the option exercise price is $6.15, and the options have an expiration date of July13, 2027.
Mr.Florea was also granted 30,000 shares of restricted stock to the 2015 SIP. The restricted stock will vest on July13, 2022.
Other terms and conditions of the awards are described in the 2015 SIP, a copy of which is available as Exhibit 10.2 to Skyline Corporation’s Quarterly Report on Form 10-Q filed October15, 2015.
About SKYLINE CORPORATION (NYSEMKT:SKY)
Skyline Corporation designs, produces and markets manufactured housing, modular housing and park models to independent dealers and manufactured housing communities located throughout the United States and Canada. As of May 31, 2016, the Company sold 3,217 manufactured homes, 360 modular homes and 337 park models. Its housing products are marketed under a number of trademarks. They are available in lengths ranging from 30 feet to 76 feet and in singlewide widths from 12 feet to 18 feet, doublewide widths from 18 feet to 32 feet, and triplewide widths from 36 feet to 46 feet. As of May 31, 2016, the area of a singlewide ranges from approximately 400 to 1,200 square feet, a doublewide from approximately 700 to 2,400 square feet, and a triplewide from approximately 1,600 to 2,900 square feet. The Company’s Modular homes are built according to state, provincial or local building codes. Park models are marketed under the Shore Park trademark.