Huron Consulting Group Inc. - 8-K Summary
Business Context and Reporting Period
This Form 8-K Current Report was filed on March 11, 2011, by Huron Consulting Group Inc. The filing discloses the approval of restricted stock and stock option awards for Named Executive Officers (NEOs) under the Company's 2004 Omnibus Stock Plan by the Compensation Committee of the Board of Directors.
Key Financial Metrics
The filing does not provide revenue, profit, cash flow, margin, debt, or liquidity metrics. The only financial data disclosed relates to executive compensation grants and the stock price on the grant date.
- Stock Price on Grant Date: $26.19
- Total Grant Value (CEO James H. Roth): $1,120,000
- Total Grant Value (CFO James K. Rojas): $650,000
- Total Grant Value (General Counsel Diane E. Ratekin): $235,000
Material Changes and Compensation Details
The filing details specific compensation arrangements approved on March 11, 2011:
- Performance Restricted Stock: Awards for the CEO and CFO are tied to fiscal year 2011 performance. The final value may range from zero to 125% of the grant amount based on metrics to be finalized by the Compensation Committee. Vesting occurs one-third on December 31, 2011, and two-thirds on December 31, 2013.
- Time-Based Stock Options: Granted to the CEO and CFO, vesting in four equal installments starting March 11, 2012. Option counts were determined using the Black-Scholes-Merton model.
- Time-Based Restricted Stock: A $40,000 award was granted to Diane E. Ratekin in recognition of her promotion to General Counsel on February 22, 2011. This award is scheduled for grant on April 1, 2011, and will vest in four equal installments.
Guidance, Outlook, and Risks
The filing does not contain financial guidance, outlook, management commentary on operations, or specific risk factors. The primary contingency noted is that the performance metrics for the restricted stock awards have not yet been finalized by the Compensation Committee.
Key Facts for Investor Verification
- Verify the specific performance metrics finalized by the Compensation Committee for the fiscal year 2011 restricted stock awards.
- Confirm the number of stock options granted to the CEO and CFO, as the filing discloses the fair value but not the specific share count.
- Monitor the vesting schedule for the General Counsel's restricted stock award, which is set to be granted on April 1, 2011.
- Review the 2004 Omnibus Stock Plan to understand the full terms and conditions of the equity awards.