Before
Executive ownership guidelines were amended to reflect the following:
Ownership target–Total shares/equivalents as percentage of shares outstanding |
|
Chief Executive Officer | 0.07% |
Other Named Executive Officer | 0.03% |
Before, with commentary
Executive ownership guidelines were amended to reflect the following:
Ownership target–Total shares/equivalents as percentage of shares outstanding |
|
Chief Executive Officer | 0.07% |
Other Named Executive Officer | 0.03% |
[An inquisitive investor would want to know two things. First, “do I have to go find last year’s proxy to figure out whether the new ownership requirements are higher or lower than they were before the amendment?” Second, “why did the company change the requirement?” This disclosure doesn’t address either question.]
After
Due to XXXXX, the Compensation Committee voted to reduce the share ownership requirements for executive officers effective XXXXX, as shown in the following table:
Former target – total shares/equivalents as percentage of shares outstanding |
New target – total shares/equivalents as percentage of shares outstanding |
|
Chief Executive Officer | 0.20% | 0.07% |
Other Named Executive Officer | 0.03% | 0.03% |