secwatch.observer — SEC 8-K summary
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Issuer:     CORPAY, INC. (CPAY)
CIK:        0001175454
Form:       8-K
Filed at:   2021-10-05T23:59:59+00:00
Accession:  0001175454-21-000042
Event type: leadership
Sentiment:  positive
Materiality: 0.65
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

FLEETCOR grants CEO Ronald Clarke performance-based option award for 850,000 shares
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- Award covers 850,000 shares at $261.27 exercise price; two tranches vest at $350 and $400 10-day closing stock price hurdles.
- Vesting also requires service: ratable in six-month increments over 18 months post-grant; award expires Dec 31, 2024.
- Clarke received no 2020 long-term equity and has agreed to no additional equity grants in 2021-2023.
- Compensation Committee aims to align CEO compensation with shareholder interests and retain Clarke.
- Award subject to accelerated vesting on stock price hurdle achievement or change in control/termination.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1175454/000117545421000042/0001175454-21-000042-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1175454/000117545421000042/flt-20210930.htm
  HTML page:      https://secwatch.observer/filing/0001175454-21-000042

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