Thor Industries, Inc. (NYSE:THO) 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 Arrangement of Certain Officers.

Mr. Julian’s base salary for the Company’s 2018 Fiscal Year remains unchanged at $500,000. Mr. Julian’s Performance Compensation Awards under the 2016 Plan, payable in cash with respect to each fiscal quarter of the Company’s 2018 Fiscal Year in accordance with the 2016 Plan, shall be equal to 0.1% of the Company’s net income before tax (excluding any impairment charges) for each fiscal quarter during the Company’s 2018 Fiscal Year. The aggregate amount of such Performance Compensation Awards shall not exceed $20 million for the 2018 Fiscal Year in accordance with the 2016 Plan. Mr. Julian’s Performance Compensation Award under the 2016 Plan, payable in restricted stock units following the end of the 2018 Fiscal Year, shall be equal to 0.195% of the Company’s net income before tax (excluding any impairment charges) for the 2018 Fiscal Year. The settlement date for this award will be the first trading day following the date the Company opens a trading window under the Company Trading Policy following the 2018 Fiscal Year and the number of shares issued will be based upon the NYSE closing price of the Company’s common stock on such date. The restricted stock units granted to such award will vest in equal installments on the first, second, and third anniversaries of the settlement date. The amount of such Performance Compensation Award shall not exceed 2,000,000 shares of restricted stock units in accordance with the 2016 Plan. The receipt of the foregoing Performance Compensation Awards is contingent on Mr. Julian being employed with the Company at the time of payment and certification by the Compensation Committee of the amount of the award and that the applicable performance goal has been achieved. The amount of such awards is subject to downward adjustment and other limitations in accordance with the terms of the 2016 Plan. As with all of the executive officers, the Company reserves the right to award discretionary bonuses on a case-by-case basis.

About Thor Industries, Inc. (NYSE:THO)

Thor Industries, Inc. manufactures a range of recreational vehicles (RVs) in the United States and sells those vehicles primarily in the United States and Canada. The Company’s segments include towable recreational vehicles, which consists of the operations of Airstream, Inc. (Airstream) (towable); Heartland Recreational Vehicles, LLC (Heartland) (including Bison Coach, LLC (Bison), Cruiser RV, LLC (CRV) and DRV, LLC (DRV)); Jayco, Corp. (Jayco) (including Jayco towable, Starcraft and Highland Ridge), Keystone RV Company (Keystone) (including CrossRoads and Dutchmen) and K.Z., Inc. (KZ) (including Livin’ Lite RV, Inc. (Livin’ Lite)); motorized recreational vehicles, which consists of the operations of Airstream (motorized), Jayco (including Jayco motorized and Entegra Coach) and Thor Motor Coach, Inc. (Thor Motor Coach), and Other, which includes the operations of its subsidiary, Postle Operating, LLC (Postle).