Northwest Pipe Company (NWPX) has provided an announcement.
Northwest Pipe Company’s Board of Directors has approved incentive-based stock awards for top executives, blending performance share units (PSUs) and restricted stock units (RSUs). The PSUs, making up 75% of the award, will vest based on the company’s financial performance, specifically its EBITDA Margin, and will do so over three years. The RSUs, constituting the remaining 25%, also vest over three years but are contingent on continued service. Both types of stock units have provisions for immediate vesting in case of a company change in control, subject to certain conditions. This strategic move aims to align executive compensation with the company’s long-term success and shareholder value.
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