8-K: ICF International Awards Special Retention Grant to Executive James Morgan

ICF International granted a special retention award of 4,227 restricted stock units to executive James Morgan on March 20, 2024.

Summary

• ICF International awarded a special retention grant to Mr. James Morgan on March 20, 2024.
• The grant consists of 4,227 restricted stock units.
• This award was given in recognition of Mr. Morgan's role, performance, and contributions to the company.
• The value of the grant was determined by dividing $650,000 by the average closing price of ICF's common stock over the 20 trading days up to and including March 20, 2024.
• The restricted stock units will vest over a three-year period.
• The grant is subject to the terms of the company's 2018 Omnibus Incentive Plan and a Restricted Stock Unit Award Agreement.

Sentiment

Score: 7

Explanation: The document reflects a positive action by the company to retain a key executive, which is generally viewed favorably.

Positives

• The retention grant demonstrates the company's recognition of James Morgan's contributions.
• The vesting period of three years encourages long-term commitment from the executive.

Industry Context

Retention grants are a common practice in the industry to incentivize and retain key executives.

Comparison to Industry Standards

• Many companies use restricted stock units as part of their executive compensation packages.
• The three-year vesting period is a standard practice for such grants.
• The value of the grant is consistent with typical retention awards for executives at similar companies.

Stakeholder Impact

• The retention grant may be viewed positively by shareholders as it incentivizes a key executive to remain with the company.

Key Dates

Keywords

retention grant, restricted stock units, executive compensation, incentive plan, human capital committee, stock award, vesting