Clearfield Inc.
11/26/2024 | Press release | Distributed by Public on 11/26/2024 10:34
Management Change/Compensation Form 8 K
| Item 5.02 | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
On November 25, 2024, the Compensation Committee of the Board of Directors of Clearfield, Inc. (the "Company") approved and adopted a new form of Performance Stock Unit Award Agreement (the "Award Agreement") with respect to the granting of performance-based stock units ("PSUs") under the Clearfield, Inc. 2022 Stock Compensation Plan (the "Plan"). The Award Agreement sets forth the standard terms and conditions that apply to grants of PSUs under the Plan that vest over a multi-year period subject to attainment of one or more performance goals established by the Compensation Committee. The Award Agreement will be first used for awards of PSUs to executive officers with respect to the fiscal year 2025 performance period.
The foregoing summary of the Award Agreement does not purport to be complete and is subject to and qualified in its entirety by reference to the full text of the Award Agreement, a copy of which is attached hereto as Exhibit 10.1 and is incorporated herein by reference.