A recent 8-K filing from Apogee Enterprises states that the company’s recently adopted Executive Management Incentive Program will entitle each participant to receive a cash bonus payment after the end of a fiscal year if the applicable performance goals for payment of the bonus have been satisfied.
The board of directors of Apogee Enterprises Inc. recently adopted a new Executive Management Incentive Program, according to a recent 8-K filing.
Though the incentive programme is still subject to shareholder approval, it would “entitle each participant to receive a cash bonus payment after the end of a fiscal year if the applicable performance goals for payment of the bonus have been satisfied.”
The plan would cap the maximum bonus that could be received during any fiscal year at USD 3 million.
Additionally, the company’s shareholders recently elected several new members for its board of directors. Among these was Joseph Puishys, Apogee president and CEO. Puishys will serve as a Class II director for a three-year term that ends in 2015.