CACI International Inc. Form 8-K Summary
Business Context and Reporting Period
This Current Report on Form 8-K was filed by CACI International Inc. on November 28, 2017. The filing reports a specific corporate governance event regarding executive compensation approved by the Board of Directors on the same date.
Key Financial Metrics
The filing does not provide standard financial metrics such as revenue, profit, cash flow, margins, debt, or liquidity. The only financial figure disclosed is the grant date value of a specific equity award, which is approximately $5,000,000.
Material Changes
The material change reported is the approval of a one-time special award of performance-based restricted stock units (PRSUs) to John Mengucci, the Company's Chief Operating Officer. This award is contingent upon the Company achieving a minimum one-year earnings per share target for Fiscal Year 2019.
Guidance, Outlook, and Management Commentary
- Award Details: The Special Award consists of 38,506 PRSUs.
- Vesting Schedule: If the performance target is met, the PRSUs will vest ratably on the second, third, and fourth anniversaries of the grant date.
- Performance Condition: Earning the award is strictly tied to achieving a minimum EPS target for FY19.
- Plan Reference: The award is subject to the terms of the Company's 2016 Amended and Restated Incentive Compensation Plan.
Investor Verification Checklist
- Verify the specific FY19 earnings per share target required to earn the $5,000,000 award.
- Review the attached Performance Restricted Stock Unit Grant Agreement (Exhibit 10.1) for forfeiture conditions and other terms.
- Confirm the impact of this award on the company's total share count and dilution upon vesting.
- Check subsequent filings to determine if the FY19 EPS target was achieved.