FREMONT, CA: In accordance to New York Stock Exchange Rule 303A.08, Fluor, the global publicly-traded engineering, procurement, construction (EPC) and maintenance company notes that the compensation arrangement approved by the organization and compensation committee of the Board of Directors of constable, which are described in Fluor’s current report on Form 8-k filed with the securities and exchange commission on November 2, 2020, include an employment inducement award.
The award is for a number of shares that on the date of grant will have an aggregate grant date value of $5 million, as determined under the applicable accounting rules, equally split between restricted stock units and stock options, based on the closing price of Fluor’s common stock on the date of the award.
The restricted stock units and stock options will vest annually over five years, subject to the constable's continued employment with Fluor.
The inducement award will be made outside of Fluor’s 2017 Performance Incentive Plan, but will generally have terms and conditions consistent with those set forth in that plan, except that the stock options and restricted stock units awarded to constable will not be eligible for the retirement-acceleration provisions applicable to other stock option and restricted stock stock unit awards granted under the plan. It is anticipated that the award will be made early in January 2021.
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