Pep: Entry Into A Material Definitive Agreement

The following excerpt is from the company's SEC filing.

[  ]   Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) [  ]   Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) [  ]   Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) [  ]   Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

The Pep Boys - Manny, Moe & Jack (the "Company") is revising its executive compensation program to eliminate the retirement plan contributions that have historically been made by the Company under (i) The Pep Boys Deferred Compensation Plan, effective for fiscal year 2014, and (ii) the Company's supplemental executive retirement plan (known as the Account Plan), effective for calendar 2015. In their place, the Company will increase the annual equity grant target amounts for executives. The aggregate equity grants will be delivered 40% in performance share units, 40% in stock options and 20% in restricted stock units. On January 31, 2014, we amended and restated The Pep Boys Deferred Compensation Plan and the Account Plan to reflect these changes.

The above information was disclosed in a filing to the SEC. To see this filing in its entirety, click here.

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