Business Context and Reporting Period
This Form 8-K filing by American Vanguard Corporation reports executive compensation decisions made by the Board of Directors and Compensation Committee. The report date is March 25, 2013, covering incentive compensation and restricted stock awards based on performance during fiscal year 2012.
Key Financial Metrics
The filing does not provide company-wide revenue, profit, cash flow, margins, debt, or liquidity metrics. It specifically details the following executive compensation amounts:
| Executive Officer | Bonus Payment | Restricted Stock Shares |
|---|---|---|
| Eric G. Wintemute (Chairman & CEO) | $562,750 | 26,558 |
| Glen D. Johnson (SVP - Business Dev't) | $220,000 | 6,735 |
| David T. Johnson (CFO, VP & Treasurer) | $210,000 | 6,735 |
| James Lehman (VP - Sales) | $206,625 | 6,735 |
| Timothy J. Donnelly (CAO, GC & Sec'y) | $210,000 | 6,735 |
Material Changes
The filing does not report material changes to financial performance compared to prior periods. It discloses the execution of a specific compensatory arrangement for fiscal year 2012 performance.
Guidance, Outlook, and Terms
Restricted stock awards are subject to a restricted stock agreement with the following terms:
- Vesting: The entire award vests on the third anniversary of the award date.
- Forfeiture: The entire award is forfeited if the recipient is not continuously employed through the vesting date.
The filing contains no forward-looking guidance, risk factors, or contingencies beyond the standard terms of the compensation plan.
Investor Verification Points
- Verify the total number of shares outstanding to assess the dilution impact of the 53,498 new restricted stock shares.
- Confirm the specific vesting start date to calculate the exact vesting anniversary.
- Review the company's 10-K for fiscal year 2012 to understand the performance metrics that triggered these specific bonus amounts.