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Quotes & Info
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| PCS > SEC Filings for PCS > Form 8-K on 7-Feb-2013 | All Recent SEC Filings |
7-Feb-2013
Change in Directors or Principal Officers
Stock Option and Restricted Stock Grants
On February 5, 2013, the Board of Directors ("Board") of MetroPCS
Communications, Inc. ("Company") approved an award of options ("Options") to
acquire shares of the Company's common stock, par value $0.0001 per share
("Common Stock"), and an award of restricted Common Stock ("Restricted Stock"),
each to be granted on February 5, 2013 ("Grant Date") to the named executive
officers of the Company under either the Amended and Restated MetroPCS
Communications, Inc. 2004 Equity Incentive Compensation Plan ("2004 Plan") or
the MetroPCS Communications, Inc. 2010 Equity Incentive Compensation Plan ("2010
Plan" together with the 2004 Plan, the "Plans") as follows:
Name Position Number of Options Shares of
Restricted Stock
Roger D. Linquist Chief Executive Officer 440,000 220,000
President and Chief Operating
Thomas C. Keys Officer 200,000 100,000
Chief Financial Officer & Vice
J. Braxton Carter Chairman 190,000 95,000
General Counsel, Secretary &
Mark A. Stachiw Vice Chairman 110,000 55,000
Senior Vice President, Human
Dennis T. Currier Resources 60,000 30,000
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All of the Option awards approved by the Board on February 5, 2013 will have an exercise price equal to the closing price of the Common Stock on the New York Stock Exchange on the Grant Date.
All of the Options and shares of Restricted Stock will vest over four years from the Grant Date as follows: twenty-five percent (25%) of the Options and shares of Restricted Stock will vest and, in the case of the Options, will become exercisable, on February 5, 2014; the remainder of the Options will vest and become exercisable upon the named executive officer's completion of each additional month of service with the Company in a series of thirty-six (36) successive, equal monthly installments; and the remainder of the shares of Restricted Stock will vest upon the named executive officer's completion of each additional quarter of service with the Company in a series of twelve (12) successive, equal quarterly installments.
Until such time that shares of Restricted Stock vests, each named executive officer agrees to vote all such shares of unvested Restricted Stock in the same proportion as all other shares of Common Stock that are voted on any matter and to forfeit all dividends related to all unvested Restricted Stock, except non-dividend cash payments or extraordinary dividends in connection with a change in control, recapitalization or other extraordinary transaction that results in accelerated vesting to which such extraordinary dividend or payment relates, each named executive officer will be paid the extraordinary dividend or payment and the payment will be payable only after the closing of the change in control, recapitalization or other extraordinary transaction.
2013 Annual Cash Incentive Performance Awards The Board also awarded annual cash performance awards under the 2010 Plan to Messrs. Linquist, Keys, Carter, Stachiw and Currier with target amounts and performance criteria consistent with the annual cash performance awards awarded in 2012.
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