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TGI > SEC Filings for TGI > Form 8-K on 13-Feb-2014All Recent SEC Filings

Show all filings for TRIUMPH GROUP INC

Form 8-K for TRIUMPH GROUP INC


13-Feb-2014

Change in Directors or Principal Officers


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

On February 12, 2014, the Board of Directors of Triumph Group, Inc. (the "Company") elected Jeffrey L. McRae as Senior Vice President and Chief Financial Officer of the Company.
Mr. McRae served as President of Triumph Aerostructures - Vought Aircraft Division since October 2013, having previously served as President of Triumph Aerostructures - Vought Integrated Programs Division and Chief Financial Officer for Triumph Aerostructures - Vought Aircraft Division, a position he had assumed upon the completion of Triumph's acquisition of Vought Aircraft Industries, Inc. in June 2010. Prior to the acquisition, Mr. McRae had served as Vought's Vice President of Business Operations. Prior to joining Vought, Mr. McRae spent 20 years with BAE Systems (formerly United Defense) and its legacy companies, most recently as interim President and General Manager for the Armament Systems Division (ASD). During his career, he held a series of financial management positions, including Director of Finance for ASD, Chief Financial Officer for joint ventures in Turkey and Saudi Arabia, Director of a payroll and benefits shared services center, and Plant Controller for a production facility. Mr. McRae earned his bachelor's degree in accounting from Michigan State University and began his career with KPMG in Lansing, Michigan.
Mr. McRae's compensation and benefits will include the following:
Annual base salary of $400,000.

            Fiscal year cash bonus opportunity of between 70% and 140% of his
             annual salary for the applicable fiscal year, based on the Company's
             performance.


            A grant of performance-based restricted stock having a value
             consistent with program parameters approved by the Company's
             Compensation and Management Development Committee.


            Relocation and temporary living expenses as approved by the
             Company's President and Chief Executive Officer.

An annual allowance for tax preparation fees.

Mr. McRae will also receive other benefits generally available to the Company's employees, which may be modified or changed in the future to meet changing business needs.
Mr. McRae's employment with the Company will not be for any set term and may be modified by mutual agreement or terminated by either Mr. McRae or the Company at any time. The at-will nature of Mr. McRae's employment can be modified only in a writing signed by him and the Company.
Except as disclosed above, there are no arrangements or understandings between Mr. McRae and any other person pursuant to which he was appointed as an officer, and there are no relationships between Mr. McRae and the Company that would require disclosure under Item 404(a) of Regulation S-K of the Securities Exchange Act of 1934, as amended.
Item 9.01 Financial Statements and Exhibits
99.1 Press release dated February 12, 2014.


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