Corporate GovernanceJul 6, 2026, 04:18 PM
Powell Industries Awards CEO 36,000 Special RSUs
AI Summary
Powell Industries' Compensation and Human Capital Committee approved a special one-time restricted stock unit (RSU) award for President and CEO Brett A. Cope. The award, covering 36,000 shares, is designed to incentivize his continued service to the company beyond his retirement eligibility date. The vesting schedule is backloaded, with 25% vesting on July 1, 2027, 25% on July 1, 2028, and the remaining 50% on July 1, 2029. Importantly, unvested portions of the award will not accelerate or continue to vest if Mr. Cope retires before a vesting date.
Key Highlights
- Powell Industries' Compensation Committee approved a special one-time RSU award for President and CEO Brett A. Cope.
- The award consists of 36,000 shares of the company's common stock.
- The award aims to incentivize Mr. Cope's continued service beyond his age 60 retirement eligibility.
- Vesting is backloaded: 25% on July 1, 2027, 25% on July 1, 2028, and 50% on July 1, 2029.
- Unvested portions will not vest or accelerate if Mr. Cope retires prior to a vesting date.
Price Impact
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