Corporate GovernanceAug 11, 2026, 04:38 PM
Twin Disc Increases Incentive Plan Shares by 700,000; Adjusts Executive Comp
AI Summary
Twin Disc's Board approved an amendment to its 2021 Omnibus Incentive Plan, increasing the number of shares available for awards by 700,000 to 2,336,550. This amendment requires shareholder approval by August 5, 2027. Additionally, the Compensation Committee approved 4.0% base salary increases for CEO John H. Batten to $740,554 and CFO Jeffrey S. Knutson to $454,480, effective October 1, 2026. Both executives also received restricted stock and performance stock awards under the amended plan.
Key Highlights
- Omnibus Incentive Plan shares increased by 700,000 to 2,336,550.
- CEO John H. Batten's base salary increased by 4.0% to $740,554.
- CFO Jeffrey S. Knutson's base salary increased by 4.0% to $454,480.
- CEO's target bonus set at 100% of base salary for FY2027.
- CFO's target bonus set at 60% of base salary for FY2027.
- CEO granted 18,756 restricted stock shares and target 28,135 performance shares.
- CFO granted 8,734 restricted stock shares and target 13,100 performance shares.
Price Impact
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