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Yellow | Millions In Restricted Stock Awards To Yrcw Execs Reported!

Freightmaster1

Freightmaster1

TB Legend
Credits
607
Hawkins
http://investors.yrcw.com/static-files/bc685988-237b-43d4-95c6-3f1efa752015

Fisher
http://investors.yrcw.com/static-files/490f69ec-1b96-4f18-87dc-790185e2a6c4

Boehmer
http://investors.yrcw.com/static-files/eb2ddef1-44ab-4d44-b418-93756d3d8381

Fry
http://investors.yrcw.com/static-files/8306506f-eea9-46e9-a13d-5ae7dcb22e50

Lilly
http://investors.yrcw.com/static-files/7ec74d99-a710-4504-acde-20d1695589d4

Ringgenberg
http://investors.yrcw.com/static-files/37f41f5a-6191-4e19-8363-879508fa65e8

Simoneau
http://investors.yrcw.com/static-files/228d1c46-dccc-40f7-b4cc-ebacfdbbd987

Ware
http://investors.yrcw.com/static-files/0192cbb3-baa2-4e5c-a5df-da8441e94290

O'Connor
http://investors.yrcw.com/static-files/6225f1b3-22aa-4d30-82ed-65b4515b8611

Stone
http://investors.yrcw.com/static-files/12271992-541c-43f2-b9aa-1054138c17bc

Moshier
http://investors.yrcw.com/static-files/2628117d-0215-40fb-a392-7a1c96e88d0d
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What about this...

The new agreement also includes some compensation limits for YRC Freight’s executive ranks. Under the agreement, for every dollar that YRC executives receive in bonuses, the bargaining unit gets $2 split equally among the members, according to a Teamsters document. In other words, $5 million in bonuses in a given year paid to YRC executives would mean the union would get $10 million to share among members.

https://www.ttnews.com/articles/yrc-teamsters-enter-five-year-contract-ending-years-labor-strife

Oh! I guess restricted stock awards are NOT considered "bonuses"?!
:fan::wtflol::hissyfit:


0x8W4oI.jpg

Relax Brothers and Sisters! I'm sure Ernie is "monitoring the situation"!
:chairshot:
 
.6. Incentive Bonus Program. The parties recognize that the success of the employer depends on the collective efforts of its employees. The parties also recognize that when executives are rewarded for the Employer’s performance, employees covered by this Agreement should be rewarded as well. Effective January 1, 2019 and for performance beginning with calendar year 2019, and each year thereafter, employees covered by this Agreement shall be covered by an Incentive Bonus Program.The triggers for payout under the Incentive Bonus Program shall be the same as those established annually by the Board of Directors for the Section 16 Officers of YRC Worldwide, Inc. who are required to file Form 4 insider trading documents with the SEC (“Section 16 Officers”) for their non-equity incentive plan or similar annual bonus program. In the event Section 16 Officers receive non-equity incentive plan or similar annual bonus compensation, employees covered by this Agreement shall be paid under this Incentive Bonus Program as follows: for every $1.00 of non-equity incentive plan or similar bonus compensation paid to all Section 16 Officers, $2.00 shall be made available for distribution to employees covered by this Agreement in the form of a one-time bonus payment. TNFINC shall be afforded the opportunity to review any and all calculations madein this regard. In the event the Board of Directors foregoes a non-equity incentive plan or similar bonus program for Section 16 Officers for a given year and decides instead to establish an equity-based program for Section 16 Officers for a given year, a payout of $750 under this Incentive Bonus Program shall be triggered for bargaining unit employees when the Section 16 Officers’ right to the equity triggers (for example, upon the attainment of a particular stock price).Any payments triggered under this Incentive Bonus Program shall be made within ninety (90) days of the end of the calendar year. To be eligible for a payment under the Incentive Bonus Program, an employee must work or have been paid for at least one thousand (1,000) hours in the prior calendar year and be employed by the Employer at the time of payout. In no event, however, shall employees be entitled to more than one (1) payment under this Incentive Bonus Program in any calendar year. The higher of any amounts shall be paid in that circumstance.

https://teamster.org/sites/default/files/mas_nmfa-yrcw_2019-2024.final_04_10_2019.pdf

:rulz:
 
I'm just thinking there has to be an easy way to weasel out of this. Its kinda strange that they would agree to something this costly.
 
:guiness: same old story , contract settled and now they got money to give out free shares & upper management pay raises ??????????????
 
Fake News said:
Read your contract. Bonuses given in the form of stock awards trigger a $750 payment to each bargaining unit member when said stock awards vest.
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According to the green print on the SEC Forms filed it quotes "1. On February 11, 2019, these shares were granted by the Board of the Company subject to stockholder approval of the 2019 Incentive and Equity Award Plan (the "2019 Plan") by the Company stockholders. On June 5, 2019, the 2019 Plan was approved by the stockholders. All of these restricted shares will vest on the 12-month anniversary of the Company's common stock achieving a 30-calendar day weightedvolume average stock price of $11.75 per share on or before December 31, 2020. The reporting person must be employed by the Company, or one of its affiliates, to be entitled to the shares at vesting." So, this was approved by the BoD before the contract was agreed to and voted on, and would not apply to the new contract language? (asking for a friend)
 
Kennesaw Kid said:
According to the green print on the SEC Forms filed it quotes "1. On February 11, 2019, these shares were granted by the Board of the Company subject to stockholder approval of the 2019 Incentive and Equity Award Plan (the "2019 Plan") by the Company stockholders. On June 5, 2019, the 2019 Plan was approved by the stockholders. All of these restricted shares will vest on the 12-month anniversary of the Company's common stock achieving a 30-calendar day weightedvolume average stock price of $11.75 per share on or before December 31, 2020. The reporting person must be employed by the Company, or one of its affiliates, to be entitled to the shares at vesting." So, this was approved by the BoD before the contract was agreed to and voted on, and would not apply to the new contract language? (asking for a friend)[/QUOT
YES
Click to expand...
 
Kennesaw Kid said:
According to the green print on the SEC Forms filed it quotes "1. On February 11, 2019, these shares were granted by the Board of the Company subject to stockholder approval of the 2019 Incentive and Equity Award Plan (the "2019 Plan") by the Company stockholders. On June 5, 2019, the 2019 Plan was approved by the stockholders. All of these restricted shares will vest on the 12-month anniversary of the Company's common stock achieving a 30-calendar day weightedvolume average stock price of $11.75 per share on or before December 31, 2020. The reporting person must be employed by the Company, or one of its affiliates, to be entitled to the shares at vesting." So, this was approved by the BoD before the contract was agreed to and voted on, and would not apply to the new contract language? (asking for a friend)
Click to expand...

Incentive plan was agreed to before contract ratified but our contract provisions for the bonus plan are retroactive to January 1, 2019.
".6. Incentive Bonus Program. The parties recognize that the success of the employer depends on the collective efforts of its employees. The parties also recognize that when executives are rewarded for the Employer’s performance, employees covered by this Agreement should be rewarded as well. Effective January 1, 2019 and for performance beginning with calendar year 2019, and each year thereafter, employees covered by this Agreement shall be covered by an Incentive Bonus Program."
 
Rule number one, ACT ALONE tell NOBODY, EVER. Don't say cutesie innuendos at the bar.Plan. Make it quick and decisive. Know the risks. Do it. Shut your mouth. Repeat keep your mouth SHUT. Conscience may bother you on occasion and give you doubt about your actions. Ignore it it'll pass. Remember you did civilization a solid.
 
Jaloc said:
Rule number one, ACT ALONE tell NOBODY, EVER. Don't say cutesie innuendos at the bar.Plan. Make it quick and decisive. Know the risks. Do it. Shut your mouth. Repeat keep your mouth SHUT. Conscience may bother you on occasion and give you doubt about your actions. Ignore it it'll pass. Remember you did civilization a solid.
Click to expand...

Doesn't our Union Healthcare cover mental health issues?
 
Triplex said:
Incentive plan was agreed to before contract ratified but our contract provisions for the bonus plan are retroactive to January 1, 2019.
".6. Incentive Bonus Program. The parties recognize that the success of the employer depends on the collective efforts of its employees. The parties also recognize that when executives are rewarded for the Employer’s performance, employees covered by this Agreement should be rewarded as well. Effective January 1, 2019 and for performance beginning with calendar year 2019, and each year thereafter, employees covered by this Agreement shall be covered by an Incentive Bonus Program."
Click to expand...
So....what will Ernie do now I wonder?
 
Kennesaw Kid said:
So....what will Ernie do now I wonder?
Click to expand...
Nothing. He has it in the contract that stock awards trigger a $750 bonus to each active union employee. If the number of employees is 24,000, that would cost the company 18 million dollars.
I don’t think for one second that the $750 to each employee was considered significant. I believe it was meant to be a deterrent to stop that sort of thing. And to nobody’s surprise, this company is so dumb they just keep pissing money away.
 
Fake News said:
Nothing. He has it in the contract that stock awards trigger a $750 bonus to each active union employee. If the number of employees is 24,000, that would cost the company 18 million dollars.
I don’t think for one second that the $750 to each employee was considered significant. I believe it was meant to be a deterrent to stop that sort of thing. And to nobody’s surprise, this company is so dumb they just keep pissing money away.
Click to expand...
It's the yellow way of doing business.:crap::crap:
 
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