Trinseo S.A. (NASDAQ:TSE) 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.
(e) Compensatory Arrangements of Certain Officers.
On November 30, 2016, the Board of Directors of Trinseo S.A. (the “Company”) approved, upon the recommendation of the Company’s compensation committee, an amendment to all outstanding restricted stock unit (“RSU”) awards issued to employees under the Company’s 2014 Omnibus Incentive plan during 2015 and 2016. This amendment entitles each award holder (including the Company’s chief executive officer, chief financial officer, and other named executive officers) to an amount equal to any cash dividend or repayment of equity paid by the Company upon one ordinary share for each RSU held by the award holder (“Dividend Equivalents”). The Dividend Equivalents earned on the RSU awards only include dividends or repayments of equity paid after the Board’s approval of this amendment and the award holders have no right to receive the Dividend Equivalents unless and until the associated RSU awards vest. The Dividend Equivalents will be payable in cash and will not accrue interest.
