Business Wire 20-Jun-2017 5:10 PM
LONDON & PARIS & HOUSTON--(BUSINESS WIRE)-- Regulatory News:
TechnipFMC plc (TechnipFMC) (NYSE & Euronext: FTI) (ISIN: GB00BDSFG982) announces that on 20 June 2017, it has filed with the U.S. Securities and Exchange Commission (SEC) a Current Report on Form 8-K. The Current Report on Form 8-K announces that the Compensation Committee of the Board of Directors approved an annual base salary of $1,200,000, effective June 1, 2017, and annual cash incentive bonus target of 135% for Douglas J. Pferdehirt, TechnipFMCs Chief Executive Officer. The Compensation Committee also approved a grant of options, restricted stock units and performance stock units under the TechnipFMC plc 2017 Incentive Award Plan to Mr. Pferdehirt. The grant date fair value of these grants will be approximately $8,700,000 consisting of 60% PSUs, 20% RSUs and 20% options. Options will have an exercise price equal to the closing price of the Companys ordinary shares as reported by the NYSE on the date of grant. The options and RSUs will vest on February 28, 2020. The PSUs are based on a performance period of January 1, 2017 through December 31, 2019 and will vest on February 28, 2020. The PSUs will be based on the achievement of performance goals relating to total shareholder return of the Company as measured against a peer group established by the Companys Board of Directors and return on invested capital. Upon vesting of the RSUs and PSUs, the Company will deliver ordinary shares of the Company equal to the number of RSUs and PSUs that vested.
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