secwatch.observer — SEC 8-K summary
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Issuer:     UNITIL CORP (UTL)
CIK:        0000755001
Form:       8-K
Filed at:   2023-01-30T23:59:59+00:00
Accession:  0001193125-23-019155
Event type: other_material
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Unitil adopts equity mix shift, grants 6,820 time & 6,820 performance shares to CEO
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- Compensation committee approved new practice: 50% time-based, 50% performance-based restricted stock for executives.
- CEO Thomas Meissner receives 6,820 time and 6,820 performance shares; CFO Hevert gets 2,020 each.
- Three-year performance period through Dec 2025; vesting tied to ROE and book value per share growth targets.
- Award size formula changed: now based on salary midpoint × multiplier (CEO 135%, CFO 70%, other NEOs 45%).
- Time shares vest 25% per year over four years; performance shares vest after three years based on goal attainment.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/755001/000119312523019155/0001193125-23-019155-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/755001/000119312523019155/d496495d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-019155

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