Vista Outdoor Inc. (NYSE:VSTO) 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 Principal Officers; Election of
Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
announcing the appointment of Kenneth Bement as Corporate
Controller, effective May 15, 2017. He will also assume the role of
Chief Accounting Officer from Tom Sexton on June 5.
company of Google, where he worked as the Controller of Reporting
and Governance since August 2016. Prior to joining Alphabet, he was
the Deputy Controller beginning in March 2016 and the Director of
Financial Reporting from December 2011 to February 2016 at the
Raytheon Company, a U.S. defense contractor and industrial
manufacturer. Mr. Bement’s experience also includes nearly five
years as a member of the staff of the Financial Accounting
Standards Board, Manager of Financial Reporting at Thomson Learning
and a role as a Senior Accountant at the IBM Corporation. He has a
master’s and a bachelors degree in accounting from the Marriott
School of Management at Brigham Young University. Mr. Bement is a
Certified Public Accountant, Chartered Global Management
Accountant, Certified Management Accountant and Certified Financial
Manager.
Corporate Controller Chief Accounting Officer, the Company entered
into an offer letter agreement with Mr. Bement (the Offer Letter)
on April 13, 2017. The Offer Letter provides that Mr. Bement will
be an employee at will and includes his expected compensation
package. to the Offer Letter, Mr. Bement will receive an annual
base salary of $260,000 and target annual cash incentive
compensation of 45% of his base salary. In addition, the Offer
Letter provides that Mr. Bements annual long-term equity incentive
award target will be 75% of his base salary.
receive a one-time, sign-on equity award with a $125,000
aggregate grant date value. The award will be made in the form of
restricted stock units under the Companys 2014 Stock Incentive
Plan and will vest on the first, second, and third anniversaries
of the grant date, subject to his continued employment with the
company through the applicable vesting date.
the event of a termination of Mr. Bements employment. Mr. Bement
will participate in the Companys Income Security Plan and Executive
Severance Plan to the same extent as the Companys other executives.
The Income Security Plan provides for severance payments under
certain circumstances following a change-in-control of the Company
and the Executive Severance Plan provides benefits and payments to
the Companys executives upon termination of their employment with
the Company. The foregoing description of the Income Security Plan
and Executive Severance Plan does not purport to be complete and is
qualified in its entirety by reference to the Income Security Plan
and Executive Severance Plan (Exhibits 10.2 and 10.3, respectively,
to Vista Outdoor Inc.s Current Report on Form 8-K, filed with the
Securities and Exchange Commission on February 10, 2015).
is filed as Exhibit 99.1 hereto and incorporated by reference
herein.
|
Exhibit
No.
|
Description
|
||
|
99.1
|
|
|
Press release of Vista Outdoor Inc. dated May 15, 2017.
|
|
|
|
|
|
About Vista Outdoor Inc. (NYSE:VSTO)
Vista Outdoor Inc. is a designer, manufacturer and marketer of consumer products in the outdoor sports and recreation markets. The Company operates through two segments: Shooting Sports and Outdoor Products. Its Shooting Sports segment designs, develops, produces and sources ammunition and firearms for the hunting and sport shooting enthusiast markets, as well as ammunition for local law enforcement, the United States Government and international markets. Its Outdoor Products segment product lines include archery/hunting accessories, global eyewear and sport protection, golf, hydration products, optics, shooting accessories, tactical products and water sports. The Company serves the outdoor sports and recreation markets through a diverse portfolio of over 40 brands. It serves a range of end consumers, including outdoor enthusiasts, hunters and recreational shooters, athletes, as well as law enforcement and military professionals. It offers cooking solutions through Camp Chef brand. Vista Outdoor Inc. (NYSE:VSTO) Recent Trading Information
Vista Outdoor Inc. (NYSE:VSTO) closed its last trading session up +1.38 at 23.29 with 2,569,870 shares trading hands.