Stamps.com Inc. (NASDAQ:STMP) 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.
Directors approved a non-equity incentive plan for 2017 (the 2017
Plan) under which members of our executive management, including
our named executive officers, are eligible for cash bonus awards.
The 2017 Plan sets a base level aggregate bonus pool (the Base
Pool) and provides that the actual bonus pool for 2017 could
range from zero to twice the Base Pool based on our performance
in 2017 relative to targets for revenue and adjusted EBITDA. The
compensation committee set the amount of the Base Pool so that,
if executive management performs at a reasonable level, as a
group they would receive total cash compensation for 2017 that,
when compared to benchmarks set using comparable individuals at
comparable companies, would result in a similar outcome to
compensation that the executive management team received in 2016
versus the similarly derived compensation benchmarks used during
2016. However, the compensation committee retains the discretion
to adjust the size of the bonus pool, for example to take into
account factors such as deterioration in the economic
environment.
compensation committee will allocate the bonus pool based on its
assessment of the individual performance of each participating
employee as well as that employees overall compensation level
versus relevant benchmarks set using comparable individuals at
comparable companies. No individual has an individual bonus
guarantee under the 2017 Plan.
registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.
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Stamps.com Inc.
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(Registrant)
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April 25, 2017
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/s/ Kenneth McBride
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Date
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About Stamps.com Inc. (NASDAQ:STMP)
Stamps.com Inc. is a provider of Internet-based mailing and shipping solutions. The Company operates through the Internet Mailing and Shipping Services segment. Under the Stamps.com and Endicia branded solutions, the Company’s customers use its service to mail and ship a range of mail pieces, including postcards, envelopes, flats and packages, using a range of United States Postal Service (USPS) mail classes, including First Class Mail, Priority Mail, Priority Mail Express, Media Mail, and Parcel Select, and among others. Its customers include individuals, small businesses, home offices, medium-size businesses and large enterprises, and within these categories, the Company targets both mailers and shippers. In addition, the Company offers multi-carrier shipping solutions under the brand names ShipStation and ShipWorks. The Company’s products and services include Mailing and Shipping Business and Customized Postage. Stamps.com Inc. (NASDAQ:STMP) Recent Trading Information
Stamps.com Inc. (NASDAQ:STMP) closed its last trading session down -0.70 at 112.00 with 340,407 shares trading hands.
