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NEWS > SEC Filings for NEWS > Form 8-K on 6-Feb-2014All Recent SEC Filings

Show all filings for NEWSTAR FINANCIAL, INC.



Change in Directors or Principal Officers, Financial Statements and Exhib

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

On January 31, 2014, NewStar Financial, Inc. (the "Company") adopted a restricted cash award program. Under the program, which was adopted by the Compensation Committee of the Board of Directors, a portion of certain officers' annual cash incentive bonus will be awarded in the form of a restricted cash award, which will be subject forfeiture prior to vesting in accordance with its terms. The treatment of any unvested portion of an officer's restricted cash award upon a termination event shall be in accordance with each officer's respective employment agreement and all restricted cash awards will be subject to such other terms and conditions consistent with the form of Restricted Cash Incentive Plan Agreement attached hereto. Approximately twenty percent of the incentive cash bonuses in respect of 2013 performance to be paid to Timothy J. Conway, Peter A. Schmidt-Fellner, John Kirby Bray, each a named executive officer of the Company, will be issued in the form of a restricted cash award. The Committee also set cash deferral amounts with regard to any cash incentive bonus awards that would be paid in 2015 in respect of 2014 performance at twenty percent. One-third of each officer's restricted cash award, plus any corresponding investment income for the period, will vest and no longer be subject to any restrictions on each of the first three anniversaries of the date of issuance.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

10.1* Form of Restricted Cash Incentive Plan Agreement.

* Indicates management contracts and compensatory arrangements.

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