secwatch.observer — SEC 8-K summary
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Issuer:     PARSONS CORP (PSN)
CIK:        0000275880
Form:       8-K
Filed at:   2023-12-21T23:59:59+00:00
Accession:  0000950170-23-072062
Event type: other_material
Sentiment:  positive
Materiality: 0.50
Item codes: 5.02
LLM model:  deepseek-v4-flash:cloud@v2

Parsons CEO Carey Smith receives one-time $13M equity award; PSUs tied to TSR
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- RSUs of $4M vest ratably over four years; PSUs with target $6M, max $9M based on relative TSR.
- PSU payout zero at/below 35th percentile; full payout at 65th percentile; 150% at 75th percentile.
- Annualized target value $2.5M; only $1M vests annually in first three years.
- Award approved Dec 18, 2023, in recognition of Smith's performance and retention.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/275880/000095017023072062/0000950170-23-072062-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/275880/000095017023072062/psn-20231218.htm
  HTML page:      https://secwatch.observer/filing/0000950170-23-072062

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer