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MAA > SEC Filings for MAA > Form 8-K on 15-Mar-2013All Recent SEC Filings

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Change in Directors or Principal Officers, Financial Statem

ITEM 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

On March 12, 2013, the Compensation Committee, or Committee, of the registrant's Board of Directors and the full Board of Directors held regularly scheduled meetings at which they adopted an annual bonus plan for 2013, the 2013 Plan. The registrant's named executive officers are participants in the 2013 Plan. The 2013 Plan determines a bonus opportunity of up to 200% of 2013 base salary for Mr. Bolton, our Chief Executive Officer, and up to 100% of 2013 base salary for Messrs. Grimes, our Chief Operating Officer, and Campbell, our Chief Financial Officer, with a modifier that can be applied by the Committee at its discretion, allowing the bonus amount awarded to be lowered or raised by up to 25%. The bonus opportunity is calculated as a percent of salary based on a sliding scale of year-over-year FFO per Share growth. In determining FFO per Share growth, the Committee has the ability to factor in any material and non-recurring events that may occur that impact the registrant's FFO per Share performance.

A copy of the 2013 Plan is set forth on Exhibit 10.1 to this Current Report on Form 8-K and incorporated herein by reference.

ITEM 9.01 Financial Statements and Exhibits

(c) Exhibits

Exhibit Number Description
10.1 2013 Annual Bonus Plan

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