ModivCare (MODV) has released an update.
ModivCare Inc. has introduced a new Performance Restricted Stock Unit Agreement for fiscal year 2024, outlining awards tied to specific performance and time-based criteria. The stocks will vest over three years, requiring ongoing employment, and are contingent on achieving targets related to the company’s Adjusted EBITDA and relative total shareholder return. The actual payout varies, offering 50% to 200% of the granted stocks, depending on the attainment level of set performance goals. This innovative incentive plan, aimed at executive officers, closely aligns their rewards with the company’s financial success and market performance.
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