Marcus Corp restructures LTIP, grants special restricted stock to top executives

MARCUS CORP

LTIP revised to three elements: 40% performance cash, 20% performance shares, 40% restricted stock/units; metrics ROIC (75%) and EBITDA growth (25%).
Performance payouts based on Russell 2000 percentile: 25th=25%, 50th=100%, 75th=150% of target; interpolation for intermediate results.
Committee approved 2024 annual LTI awards and a special restricted stock grant to CEO Gregory Marcus, EVP Kissinger, CFO Paris, and Hotels President Evans; vesting 4 years.
Board amended bylaws to align with SEC universal proxy rules (Rule 14a-19) and clarify annual meeting procedures.

Key facts

Extracted from this filing and checked against the source text.

Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

MARCUS CORP: Amended bylaws to align with SEC universal proxy rules under Rule 14a-19 and clarify annual meeting procedures (effective 2024-02-22).

Change: bylaw amendment
Effective: 2024-02-22

Exact text from the filing

On February 22, 2024, the Board of Directors of the Company approved amendments to the by-laws (as amended, the “By-laws”), of the Company to align the By-laws with SEC’s new requirements regarding universal proxies pursuant to Rule 14a-19 and provide clarity around the processes and procedures for the Company’s annual meeting of shareholders.

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MARCUS CORP filing history →

Source: SEC EDGAR

accession 0000062234-24-000004

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