secwatch.observer — SEC 8-K summary
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Issuer:     ADVANCED DRAINAGE SYSTEMS, INC. (WMS)
CIK:        0001604028
Form:       8-K
Filed at:   2022-05-24T23:59:59+00:00
Accession:  0001604028-22-000028
Event type: other
Sentiment:  neutral
Materiality: 0.25
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

ADS sets FY2023 annual cash incentive plan with Adjusted EBITDA, net sales, and individual goals
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- FY2023 Annual Cash Incentive Plan approved May 18, 2022; measures: Total Net Sales, Adjusted EBITDA, Individual Goal Achievement.
- For most NEOs, 60% of award on Adjusted EBITDA, 20% on net sales, 20% on individual goals; for Mr. Moore, 70% on Infiltrator Water Technologies EBITDA.
- Payouts range 0%-200% of target via linear interpolation; funding trigger requires minimum Adjusted EBITDA for any payout.
- Awards paid in lump sum within 2.5 months after fiscal year end March 31, 2023.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1604028/000160402822000028/0001604028-22-000028-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1604028/000160402822000028/wms-20220518.htm
  HTML page:      https://secwatch.observer/filing/0001604028-22-000028

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