YRC Worldwide Inc. (NASDAQ:YRCW) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02.
Chief Financial Officer
Effective May 16, 2017, Stephanie D. Fisher, age 40, was appointed Chief Financial Officer of YRC Worldwide Inc. (the “Company”). Ms. Fisher served as Acting Chief Financial Officer and Vice President and Controller since January 2017 and as Vice President and Controller since May 2012. Prior to that, Ms. Fisher served in various positions in the Company’s Corporate Accounting department since 2004, including Director, Financial Reporting.
Ms. Fisher received a salary increase to $400,000 per year in connection with her promotion. Ms. Fisher will continue to participate in the 2017 executive compensation program as disclosed in the proxy statement for the Company’s 2017 annual stockholder meeting (the “2017 Executive Compensation Program”). Compensation components will include (i) base salary, (ii) annual short-term incentive compensation, with target payout at 150% of base salary, based on 2017 Company revenue and Adjusted EBITDA performance (each performance goal as established by the Compensation Committee of the Board of Directors), and (iii) equity-based compensation as long-term incentive compensation at 50% of base salary.
In addition, Ms. Fisher received a one-time payment of $43,205 as additional compensation for her service as Acting Chief Financial Officer which amount reflects the differential between her base salary during her service in that role and her new base salary.
Vice President and Controller
Effective May 16, 2017, Brianne L. Simoneau, age 38, was appointed Vice President and Controller of the Company. Ms. Simoneau served as Director, Financial Reporting for the Company since April 2015. Prior to commencing employment with the Company, Ms. Simoneau was Controller at Freightquote.com, Inc., which is not an affiliate of the Company, from March 2009 to April 2015, where she was responsible for the general accounting functions.
Ms. Simoneau received a 34% salary increase and a grant of 10,000 shares of the Company’s restricted common stock in connection with her promotion, which shares will vest on February 14, 2020. Ms. Simoneau will participate in the 2017 Executive Compensation Program with the short-term and long-term incentive components each at the same target percentages of base salary as set forth above for Ms. Fisher. The Company and Ms. Simoneau will enter into the Company’s standard form of indemnification agreement for directors and officers, a copy of which was previously filed as Exhibit 10.5 to the Company’s Current Report on Form 8-K filed on March 15, 2007 and is incorporated herein by reference.
About YRC Worldwide Inc. (NASDAQ:YRCW)
YRC Worldwide Inc. (YRC Worldwide) is a holding company that, through its subsidiaries and its interest in a Chinese joint venture, offers a range of transportation services. The Company has a less-than-truckload (LTL) networks in North America with local, regional, national and international capabilities. It offers supply chain solutions enabling customers to ship industrial, commercial and retail goods. The Company operates through two segments: YRC Freight and Regional Transportation. The Company’s YRC Freight segment is focused on business opportunities in national, regional and international markets. YRC Freight provides for the movement of industrial, commercial and retail goods. The Company’s Regional Transportation segment is a transportation service provider focused on business opportunities in the regional and next-day delivery markets. Regional Transportation comprises USF Holland Inc. (Holland), New Penn Motor Express, Inc. (New Penn) and USF Reddaway Inc. (Reddaway). YRC Worldwide Inc. (NASDAQ:YRCW) Recent Trading Information
YRC Worldwide Inc. (NASDAQ:YRCW) closed its last trading session up +0.58 at 8.75 with 1,416,663 shares trading hands.