Business Context and Reporting Period
Company: Universal Technical Institute, Inc.
Filing Type: Form 8-K (Current Report)
Date of Report: June 15, 2006
Event: Entry into a Material Definitive Agreement regarding executive compensation.
Key Financial Metrics
This filing does not contain financial performance data such as revenue, profit, cash flow, margins, debt, or liquidity. The report focuses exclusively on the terms of new equity compensation awards.
Material Changes and Executive Compensation
The Compensation Committee awarded restricted stock and stock options to named executive officers under the Company's 2003 Stock Incentive Plan. Both awards vest in four equal installments, with the first vesting occurring on the first anniversary of the grant date (June 15, 2006).
Restricted Stock Awards
| Name | Shares Granted |
|---|---|
| John C. White | 5,555 |
| Kimberly J. McWaters | 11,903 |
| Jennifer L. Haslip | 4,000 |
| Roger L. Speer | 4,000 |
| David K. Miller | 4,000 |
Stock Option Awards
| Name | Shares Subject to Option |
|---|---|
| John C. White | 24,500 |
| Kimberly J. McWaters | 52,500 |
| Jennifer L. Haslip | 18,000 |
| Roger L. Speer | 18,000 |
| David K. Miller | 18,000 |
Guidance, Outlook, and Risks
The filing text does not provide guidance, outlook, management commentary on operations, risks, contingencies, or unusual items. The document serves solely to disclose the execution of the compensation agreements.
Key Facts for Investor Verification
- Verify the total number of shares authorized under the 2003 Stock Incentive Plan to assess remaining capacity for future grants.
- Confirm the strike price of the stock options awarded, as this value is not disclosed in the text.
- Review the specific vesting conditions and performance metrics (if any) detailed in the attached Exhibit 10.1 and Exhibit 10.2.
- Monitor future filings for the impact of these awards on the company's diluted earnings per share.