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SEC Filings

8-K
KEY ENERGY SERVICES INC filed this Form 8-K on 09/12/2017
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Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangement of Certain Officers

(e) On September 11, 2017 the Board elected Katherine Hargis, the Company’s Vice President, Chief Legal Officer and Corporate Secretary, to the office of Senior Vice President, General Counsel and Corporate Secretary effective September 12, 2017. In connection with the promotion, the Company adjusted Ms. Hargis’s cash bonus opportunity under the Company’s 2017 Annual Incentive Plan to conform to the cash bonus opportunity available to Senior Vice Presidents of the Company and granted Ms. Hargis (i) an award of 11,848 Time-Vested RSUs and 11,848 Performance-Based RSUs under the Company’s 2016 Equity and Cash Incentive Plan (the “ECIP”) pursuant to the performance metrics and other terms and conditions of the Performance-Based/Time-Vested Restricted Stock Unit Award Agreement previously approved for the grant of such awards and filed with the SEC; provided, however, that the Time-Vested RSUs will vest 25% on each of December 20, 2017, 2018, 2019 and 2020; (ii) an award of 5,924 Time-Vested Options and 5,942 Performance-Based Options under the ECIP, with an exercise price of $19.35, pursuant to the performance metrics and other terms and conditions of the Performance-Based/Time-Vested Option Award Agreement previously approved for the grant of such awards and filed with the SEC; provided, however, that the Time-Vested Options will vest 25% on each of December 15, 2017, 2018, 2019 and 2020; and (iii) an award of 5,924 Time-Vested Options and 5,942 Performance-Based Options under the ECIP, with an exercise price of $47.99, pursuant to the performance metrics and other terms and conditions of the Performance-Based/Time-Vested Option Award Agreement previously approved for the grant of such awards and filed with the SEC; provided, however, that the Time-Vested Options will vest 25% on each of December 20, 2017, 2018, 2019 and 2020. Ms. Hargis’s base compensation will remain the same through 2017, but will be evaluated for potential increase in 2018.