Business Context and Reporting Period
Company: Power Solutions International, Inc.
Filing Type: Form 8-K (Current Report)
Date of Report: October 19, 2015
Subject: Item 5.02 - Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
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 a specific executive compensation arrangement.
Material Changes
The material change reported is the grant of a Stock Appreciation Right (SAR) to Michael P. Lewis under the 2012 Incentive Compensation Plan, as contemplated by an Executive Employment Agreement dated October 2, 2015.
Guidance, Outlook, and Management Commentary
- Compensation Details: The SAR covers 60,000 shares of Common Stock with a strike price of $24.41 per share.
- Settlement: The award is to be settled only in whole shares of Common Stock.
- Vesting Schedule: The SAR will vest ratably, becoming exercisable with respect to one-fourth of the covered shares beginning on the third anniversary of the Grant Date (October 19, 2015).
- Approval: The award was approved by the Compensation Committee of the Board.
Important Facts for Investor Verification
- Verify the terms of the Executive Employment Agreement dated October 2, 2015, referenced in the filing.
- Review the full text of the Stock Appreciation Rights Agreement (Exhibit 10.1) for specific conditions regarding market value determination and exercise.
- Confirm the impact of the 60,000-share SAR grant on potential future dilution of common stock.