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  1. #1
    Banned

    Join Date
    Jan 2011
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    Roadway
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    USA
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    YRC Worldwide - Current Report
    Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

    On August 30, 2011, the Board of Directors (the “Board”) of YRC Worldwide Inc. (the “Company”) approved the YRC Worldwide Inc. Director Compensation Plan (the “Director Plan”), effective August 30, 2011. All of the non-employee directors of the Company, which includes Raymond J. Bromark, Douglas A. Carty, Matthew A. Doheny, Robert L. Friedman, James E. Hoffman, Michael J. Kneeland, Harry J. Wilson and James F. Winestock, will participate in the Director Plan. The Director Plan provides for:

    (i) annual cash retainer of $75,000 for service on the Board ($125,000 for service as the Chairman of the Board), with additional retainers of $15,000 for service as the Audit/Ethics Committee Chairperson and $10,000 for other Committee Chairpersons;

    (ii) following (A) the completion of the reverse merger of the Company into a subsidiary of the Company in which the Company survives the merger, (B) the Board’s adoption of a new equity incentive plan, and (C) the effective date of a reverse stock split of the Company’s common stock, a grant of restricted stock units (“RSUs”) equal to $100,000 divided by $0.1134 (the conversion ratio of the Company’s Series A Convertible Senior Secured Notes), which grant shall be adjusted proportionately to reflect the reverse stock split;




    YRC Worldwide pays its new board members more - Kansas City Business Journal
    Last edited by 222lifer; 08-31-2011 at 11:16 PM. Reason: similar posts

  2. #2
    I Am Rocking Now

    Join Date
    Jul 2011
    Local Union
    952
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    YRC
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    Default Re: YRC Form 8-K, Change of Officers

    Why isn't the union in an uproar about this, Oh! That's right they're on the board too, what a joke!!! Board Chairman gets $125K cash, for doing what? What do these people do anyways sit around a watch the worthless stock tick down?

 

 

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