Business Context and Reporting Period
This Form 8-K was filed by PerkinElmer, Inc. (noted in metadata as REVVITY, INC.) on January 26, 2017. The report addresses corporate governance actions taken by the Compensation and Benefits Committee of the Board of Directors regarding the Company's 2009 Incentive Plan.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on the adoption of award agreement forms and does not contain financial performance data.
Material Changes
On January 26, 2017, the Compensation and Benefits Committee adopted new forms of award agreements intended to constitute qualified performance-based compensation under Section 162(m) of the Internal Revenue Code. The changes include:
- Restricted stock with time- and performance-based vesting featuring Single-Trigger Acceleration upon a change in control.
- Restricted stock with time- and performance-based vesting featuring Double-Trigger Acceleration upon termination without cause or resignation for good reason within 36 months of a change in control.
- Restricted stock units (RSUs) with performance-based vesting featuring Single-Trigger Acceleration.
- Restricted stock units (RSUs) with performance-based vesting featuring Double-Trigger Acceleration.
Guidance, Outlook, and Risks
The filing does not contain management guidance, financial outlook, or specific risk factors beyond the standard regulatory context of the award agreements. The primary purpose is to disclose the adoption of these specific compensation instruments and file the associated agreements as Exhibits 99.1 through 99.4.
Investor Verification Checklist
- Verify the specific vesting conditions and acceleration triggers detailed in Exhibits 99.1, 99.2, 99.3, and 99.4.
- Confirm the total number of shares or units authorized under the 2009 Incentive Plan available for these new award types.
- Review the Company's broader compensation philosophy to understand how these 162(m)-compliant awards fit into executive retention strategies.