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PSIX > SEC Filings for PSIX > Form 8-K on 20-Jun-2013All Recent SEC Filings

Show all filings for POWER SOLUTIONS INTERNATIONAL, INC. | Request a Trial to NEW EDGAR Online Pro

Form 8-K for POWER SOLUTIONS INTERNATIONAL, INC.


20-Jun-2013

Other Events, Financial Statements and Exhibits


Item 8.01 Other Events

Restricted Stock Award to Daniel P. Gorey and other eligible employees under the 2012 Incentive Compensation Plan

On Monday, June 17, 2013, Power Solutions International, Inc. (the "Company") granted 3,333 shares of restricted stock to Daniel P. Gorey, its Chief Financial Officer. The grant was approved by both the Compensation Committee of the Board of Directors and the full Board of Directors. The grant was made pursuant to the 2012 Incentive Compensation Plan (the "2012 Plan"), which was approved by the stockholders of the Company at the 2012 annual meeting of stockholders held on August 29, 2012. Mr. Gorey's shares of restricted stock vest and become exercisable with respect to one third of the shares of restricted stock on each of the first three anniversaries of the grant date.

In addition, the Compensation Committee and the Board of Directors approved grants of 174,995 shares of restricted stock to eligible employees, as defined under the 2012 Plan. The grants made to the eligible employees generally vest and become exercisable with respect to one tenth of the shares of restricted stock on each of the first ten anniversaries of the grant date.

The 2012 Plan is a broad-based plan which allows for a variety of different types of awards, including non-qualified options, incentive stock options, SARs, restricted stock, deferred stock and performance units, to be made to the Company's executive officers, employees, consultants and directors. A more complete description of the terms of the 2012 Plan is contained in Exhibit 10.3 on Form 8-K filed with the Commission on June 7, 2012.

The Award Agreement is attached to this Current Report on Form 8-K as Exhibit 10.1, and is incorporated herein by reference. The 2012 Plan was filed as Exhibit 10.3 to the Company's Current Report on Form 8-K filed with the Commission on June 7, 2012, and is incorporated herein by reference. The foregoing description of the restricted stock granted to Mr. Gorey and other eligible employees and the Award Agreement are qualified in their entirety by the complete text of the Award Agreement filed herewith and the 2012 Plan incorporated by reference.



Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

Exhibit Number         Exhibit Description

10.1                   Form of Restricted Stock Agreement by and between Power
                       Solutions International, Inc. and each eligible employee.

10.2                   Power Solutions International, Inc. 2012 Incentive
                       Compensation Plan, as adopted by the Board of Directors on
                       May 30, 2012 (incorporated by reference from Exhibit 10.3 to
                       the registrant's Current Report on Form 8-K, dated June 6,
                       2012, filed with the Commission on June 7, 2012).


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