Owens & Minor, Inc. Executive Base Salary and Equity Grant Schedule (Effective April 27, 2006)

Contract Categories: Human Resources › Compensation Agreements
Summary

Owens & Minor, Inc. has set new annual base salaries and granted stock options and restricted stock to its named executive officers, effective April 27, 2006. The agreement lists the revised salaries and the number of stock options and restricted shares each executive receives. Stock options are exercisable in stages over three years and expire after seven years. Restricted stock vests in thirds over three years if company earnings targets are met, or after five years if not. This document outlines compensation terms for the company's top executives.

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EX-10.1 2 dex101.htm BASE SALARY LEVELS Base Salary Levels

Exhibit 10.1

Owens & Minor, Inc.

Revised Base Salaries and Stock Option and

Restricted Stock Grants to Named Executive Officers

(Effective 4/27/06)

 

Name (1)

   

Title

   

Revised

Annual

Base

Salary

   

Stock

Option

Grants

(shares) (2)

   

Restricted

Stock

Grants

(shares)(3)

Craig Smith    President and CEO    $ 725,000    25,000    5,000
Mark Van Sumeren   

Corporate SVP,

OM Solutions

    $ 419,220    7,900    1,580
Jeff Kaczka    Corporate SVP and CFO    $ 376,012    6,750    1,350
Grace den Hartog   

Corporate SVP,

General

Counsel/Corp. Sec

    $ 324,990    10,500    2,100
(1) G. Gilmer Minor, III, the Company’s other named executive officer, retired from the Company on November 1, 2005.
(2) All stock options were granted at an exercise price of $32.00, the closing price of Owens & Minor, Inc. common stock on 4/27/06 (the date of issuance). Stock option grants become exercisable as follows: 40%, 30% and 30% on the first, second and third anniversary from the date of grant. Stock options expire on the seventh anniversary from the date of grant.
(3) One-third of the restricted stock grant vests on each of the first, second and third anniversary dates following grant; provided that the Company achieves its earnings per share (“EPS”) performance goal for the immediately preceding calendar year (beginning with calendar year 2006). For any year in which the Company does not achieve the applicable EPS performance goal, the applicable shares will vest on the fifth anniversary from the grant date.