Corporate GovernanceMay 19, 2026, 04:42 PM
Regional Management Increases 2024 LTIP Share Pool to 813,014 Shares
AI Summary
Regional Management Corp. stockholders re-approved the 2024 Long-Term Incentive Plan, increasing the number of shares available for issuance from 381,000 to 813,014. Concurrently, the Human Resources and Compensation Committee approved long-term incentive awards for named executive officers, including performance restricted stock units (PRSUs) and restricted stock, with specific grant values and vesting conditions. The plan also saw revisions such as including cash-denominated awards in the non-employee director limit and eliminating installment vesting during the minimum one-year vesting period for new awards.
Key Highlights
- Stockholders re-approved the 2024 Long-Term Incentive Plan, effective May 14, 2026.
- The number of shares available under the 2024 Plan increased by 432,014 to 813,014 shares.
- Named Executive Officers (NEOs) were granted PRSUs with total grant values of $2,320,000.
- NEOs were also granted restricted stock with total grant values of $2,320,000.
- PRSUs vest based on total shareholder return and pre-provision return on assets over a 3-year period.
- Restricted stock vests in three equal annual installments through December 31, 2028.
- The non-employee director award limit now includes cash-denominated awards.
- The ability for installment vesting during the one-year minimum vesting period was eliminated.
Price Impact
More from RM