Vistance Networks, Inc 8-K/A, filed Nov 18, 2021
Vistance Networks, Inc. (VISN)
About this 8-K/A
Vistance Networks, Inc filed this 8-K/A on November 18, 2021, reporting on events of October 21, 2021.
Items reported
- Item 5.02: Director or officer change, or executive pay
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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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Explanatory Note
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On November 16, 2021, the Compensation Committee of the Board of Directors (the “Committee”) of CommScope Holding Company, Inc. (the “Company”) approved changes to the compensation of Kyle D. Lorentzen, in connection with his appointment as Executive Vice President and Chief Financial Officer. Effective as of November 1, 2021 (the date on which Mr. Lorentzen became Chief Financial Officer), the Committee approved an increase in Mr. Lorentzen’s annual base salary to $675,000 per year, and an increase in the target annual bonus amount for which he is eligible to 95% of this base salary, subject to achievement of performance goals established by the Committee.
The Committee also approved the grant of $175,000 in aggregate value of restricted stock units to Mr. Lorentzen, to be granted on December 1, 2021, which will vest in equal annual installments on the first three anniversaries of the grant date subject to his continued service with the Company. The number of restricted stock units to be granted will be based upon the closing price of the Company’s common stock on the grant date. The form award certificate that will be used for Mr. Lorentzen’s restricted stock unit award was previously filed as Exhibits 10.2 of the Company’s Current Report on Form 8-K, filed with the Securities and Exchange Commission on October 1, 2020, and is incorporated herein by reference.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Dated: November 18, 2021 |
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COMMSCOPE HOLDING COMPANY, INC. |
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By: |
/s/ Justin C. Choi |
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Name: |
Justin C. Choi |
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Title: |
Senior Vice President, Chief Legal Officer |
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and Secretary |