Malibu Boats Inc.
10/28/2024 | Press release | Distributed by Public on 10/28/2024 15:15
Proxy Results Form 8 K
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On October 23, 2024, at the Company's annual meeting of stockholders (the "Annual Meeting"), the Company's stockholders approved the Malibu Boats, Inc. 2024 Performance Incentive Plan (the "2024 Plan"), as described in the Company's Definitive Proxy Statement, filed with the Securities and Exchange Commission on September 19, 2024 (the "Proxy Statement") to replace the Malibu Boats, Inc. Long-Term Incentive Plan (the "LTI Plan"), effective as of the date of stockholder approval. The 2024 Plan, which was previously approved by the Board of Directors of the Company, subject to stockholder approval, permits the Company to grant equity awards with respect to a maximum of (i) 1,020,000 shares of the Company's common stock, plus (ii) the number of shares subject to stock options granted under the LTI Plan and outstanding as of the date of the Annual Meeting, which expire, or for any reason are cancelled or terminated, after the date of the Annual Meeting without being exercised, plus (iii) the number of any shares subject to restricted stock unit awards under the LTI Plan that are outstanding and unvested as of the date of the Annual Meeting which are forfeited, terminated, cancelled, or otherwise reacquired after the date of the Annual Meeting without having become vested. The Company's directors, officers and employees, as well as any of the officers or employees of the Company's subsidiaries, certain consultants and advisors are currently eligible to receive equity awards under the 2024 Plan.
A summary of the 2024 Plan is set forth in the Company's Proxy Statement. The summary to the 2024 Plan is qualified in its entirety by reference to the text of the 2024 Plan, which is filed as Exhibit 10.1 hereto and incorporated by reference herein.