Business Context and Reporting Period
This Form 8-K is a current report filed by Hertz Global Holdings, Inc. on March 4, 2009, regarding events occurring on February 26, 2009. The filing addresses Item 5.02, specifically the approval of annual bonuses for named executive officers for 2008 service.
Key Financial Metrics
The filing does not provide consolidated revenue, profit, cash flow, margins, debt, or liquidity metrics. It solely discloses specific compensation payments approved for executive officers under the 2005 Executive Incentive Compensation Program (EICP) and the Executive Long Term Incentive Compensation Plan (LTIP). The total bonus payout represents 43% of the targeted bonus amount.
| Executive Officer | 2008 EICP Bonus Payment | 2008 LTIP Bonus Payment |
|---|---|---|
| Mr. Frissora | $600,925 | N/A |
| Ms. Douglas | $164,475 | N/A |
| Mr. Nothwang | N/A | N/A |
| Mr. Taride | $183,078 | $103,200 |
| Mr. Plescia | $158,025 | $103,200 |
Material Changes
The filing does not report material changes to financial performance, operations, or capital structure compared to prior periods. The only reported change is the execution of the approved bonus payments for the 2008 fiscal year.
Guidance, Outlook, and Risks
The filing contains no management commentary, forward-looking guidance, or discussion of risks and contingencies. It is a procedural disclosure regarding executive compensation.
Key Facts for Investor Verification
- The total bonus payout for 2008 service was set at 43% of the targeted amount.
- Mr. Frissora received the largest single payment ($600,925) under the EICP.
- Mr. Nothwang received no bonus payments under either the EICP or LTIP for 2008.
- Mr. Taride and Mr. Plescia received payments under both the EICP and LTIP plans.
- The filing does not contain financial statements or operational data for the period.