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TST > SEC Filings for TST > Form 8-K on 18-Feb-2014All Recent SEC Filings

Show all filings for THESTREET, INC.

Form 8-K for THESTREET, INC.


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.

Compensation of Chief Executive Officer

On February14, 2014, the Compensation Committee of the Board of Directors of TheStreet, Inc. (the "Company") approved changes to the compensation structure for Ms. Elisabeth DeMarse, the Company's Chairman, President and Chief Executive Officer. In reaching its decision to adjust Ms. DeMarse's compensation, the Compensation Committee internally discussed Ms. DeMarse's past contributions to the Company and the need to provide her with future incentives. Taking into account the Company's compensation philosophies, including the need to create a link between pay and performance and align the interests of the President and Chief Executive Officer with the interests of the Company and its stockholders, the Compensation Committee determined that it would be appropriate for Ms. DeMarse to be eligible to participate in the Company's annual performance-based cash incentive bonus plans, in which to date she has not been eligible to participate.

Based on the Compensation Committee's determinations and in recognition of Ms. DeMarse past performance and to provide future incentives, a decision was made to: (i) increase Ms. DeMarse's base salary from $400,000 per annum to $480,000 per annum, effective retroactively to January 1, 2014; (ii) grant Ms. DeMarse a one-time discretionary cash bonus of $150,000 for her performance during fiscal year 2013; and (iii) authorize that Ms. DeMarse be eligible to participate in any future annual performance-based cash incentive bonus plans, commencing with the plan adopted by the Compensation Committee for fiscal year 2014, with an initial target bonus of 30% of base salary, which will such target percentage remain in place for bonuses plans for future years unless modified by the Compensation Committee.

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