WABCO HOLDINGS INC. (NYSE:WBC) 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.
WABCO Holdings Inc. (the “Company”) is filing this Amendment No.1 to its Current Report on Form 8-K filed on August16, 2017, which announced, among other things, the appointment of Alexander De Bock as the Interim Chief Financial Officer of the Company, effective October1, 2017.
On October25, 2017, the Compensation, Nominating and Governance Committee of the Company’s Board of Directors approved certain compensatory arrangements entered into with Mr.De Bock in connection with his appointment. These arrangements included: (i)an equity grant consisting of 1,674 restricted stock units (“RSUs”) with such RSUs vesting over three years and the total shares of the Company’s common stock subject to the RSUs having a fair market value on the date of grant of $250,000; (ii) a monthly bonus of €10,000 effective as of September1, 2017 and paid each month during the interim tenure; and (iii)an additional monthly bonus of €7,000 effective as of September1, 2017 payable at the end of the interim appointment.
No other changes were made to Mr.De Bock’s compensation.
About WABCO HOLDINGS INC. (NYSE:WBC)
WABCO Holdings Inc. is a supplier of electronic, mechanical, electro-mechanical and aerodynamic products for various manufacturers. The Company engineers, develops, manufactures and sells systems controlling braking, stability, suspension, transmission automation, as well transmission automation and air management systems for commercial vehicles. It sells its products to truck and bus original equipment manufacturers (OEMs); commercial vehicle aftermarket distributors for replacement parts and services and commercial vehicle fleet operators for management solutions and service; trailer OEMs, and car manufacturers. For passenger cars, including sports utility vehicles (SUVs), the Company supplies products for niche applications. The Company’s products include anti-lock braking systems (ABS), electronic braking systems (EBS), electronic stability control (ESC), brake controls, automated manual transmission systems, air disc brakes and a range of conventional mechanical products.