Business Context and Reporting Period
This Form 8-K filing by Allison Transmission Holdings Inc. is dated May 29, 2018. The report discloses executive appointments and the approval of compensatory arrangements effective June 1, 2018.
Key Financial Metrics
This filing does not contain financial performance data such as revenue, profit, cash flow, margins, debt, or liquidity metrics. It focuses exclusively on executive compensation details.
Material Changes
The primary material change reported is the appointment of G. Frederick Bohley III as Vice President, Chief Financial Officer, and Treasurer, effective June 1, 2018. Additionally, David S. Graziosi was appointed President and Chief Executive Officer.
Compensation and Management Commentary
The Compensation Committee approved the following compensation package for Mr. Bohley:
- Base Salary: $375,000 annually.
- Annual Bonus: Target opportunity of 100% of base salary; maximum opportunity of 250% of base salary.
- Equity Awards (Grant Date: June 1, 2018):
- 1,653 Restricted Stock Units (RSUs) vesting in full on the third anniversary.
- 4,959 Stock Options vesting in full on the third anniversary.
- Up to 3,306 Performance Units based on relative total stockholder return (2018-2020 performance period).
- Severance: A change in control severance agreement was entered into, consistent with other named executive officers (excluding David Graziosi).
Investor Verification Checklist
- Verify the vesting schedules and performance metrics for the 3,306 performance units granted to the new CFO.
- Review the specific terms of the change in control severance agreement referenced in the Form 10-K exhibits.
- Confirm the effective date of the leadership transition (June 1, 2018) against internal corporate records.