secwatch.observer — SEC 8-K summary
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Issuer:     Orion Group Holdings Inc (ORN)
CIK:        0001402829
Form:       8-K
Filed at:   2022-08-18T23:59:59+00:00
Accession:  0001402829-22-000046
Event type: leadership
Sentiment:  neutral
Materiality: 0.75
Item codes: 5.02
LLM model:  deepseek-v4-flash:cloud@v2

Orion Group names Travis J. Boone as President & CEO, effective Sept 12, 2022
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- Austin J. Shanfelter to step down as Interim CEO, remain Executive Chairman.
- Base salary $750,000; annual target bonus up to 100% of base; $200,000 stub bonus for H2 2022 if $25M EBITDA achieved and progress on credit facility.
- Equity awards: $1.2M restricted stock (3-yr time vest) and $650K performance units (3-yr cliff, 75% ROIC/25% TSR).
- Relocation support: temporary housing, two house-hunting trips, up to $50K moving expenses.
- Severance terms: 1x base salary for non-CIC termination; 3x base salary + bonus + auto allowance for CIC-related termination.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1402829/000140282922000046/0001402829-22-000046-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1402829/000140282922000046/orn-20220815x8k.htm
  HTML page:      https://secwatch.observer/filing/0001402829-22-000046

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