ADIENT PLC: Change of Directors or Principal Officers, Financial Statements and Exhibits (Form 8-K)
Article 5.02 Departure of directors or certain officers; Election of directors; Appointment of certain leaders; Compensatory provisions of certain executives
September 16, 2022, the Board of Directors ("Board") of Adient plc("Adient") approved, pursuant to Adient's 2021 Omnibus Incentive Plan, a Restricted Shares or Restricted Share Unit Award Agreement for Douglas G. Del Grosso, Adient's President Chief Executive Officer (the "Replacement RSU Agreement"). The Replacement RSU Agreement will be used to grant a restricted stock unit award to Mr. Del Grosso, with a grant date fair value in an amount equal to 30% of his salary as in effect at the time of grant. The restricted stock unit award is being granted in replacement of 30% of one year's salary that Mr. Del Grossowill forfeit as a result of a salary reduction, which is being done to further Adient's commitment to aligning pay with performance and the interests of Adient's chief executive officer with the interests of its shareholders. The restricted stock unit award granted to Mr. Del Grossounder the Replacement RSU Agreement will have a grant date of October 1, 2022and will vest upon the one-year anniversary of the grant date (subject to continued vesting upon an involuntary termination without cause, or accelerated vesting upon death or disability). The foregoing description of the Replacement RSU Agreement is not complete and is qualified in its entirety by the Replacement RSU Agreement that is filed as Exhibit 10.1 to this Current Report on Form 8-K and incorporated by reference herein.
Item 9.01 Financial statements and supporting documents.
(d) Exhibits. EXHIBIT INDEX Exhibit No. Exhibit Description 10.1 Restricted Shares or Restricted Share
Unit Award for Salary 2022
replacement award for Douglas G. Del
Grosso realized under the
Omnibus Incentive Plan. 104 Cover Page Interactive Data File (the
The cover page interactive data file is
embedded within the Inline XBRL document).
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