MDU Resources Group, Inc.
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(Exact name of registrant as specified in its charter)
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Delaware
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1-3480
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41-0423660
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(State or other jurisdiction
of incorporation)
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(Commission
File Number)
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(I.R.S. Employer
Identification No.)
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1200 West Century Avenue
P.O. Box 5650
Bismarck, North Dakota 58506-5650
(Address of principal executive offices)
(Zip Code)
Registrant’s telephone number, including area code:
(701) 530-1000
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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MDU RESOURCES GROUP, INC.
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By:
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/s/ Daniel S. Kuntz
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Daniel S. Kuntz
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Vice President, General Counsel and Secretary
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Exhibit Number
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Description of Exhibit
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10.1
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Jason L. Vollmer Offer Letter, dated September 20, 2017
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99
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Press Release issued September 21, 2017
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INTERNAL CORRESPONDENCE
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LOCATION
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MDU Resources
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DATE
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September 20, 2017
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WRITER
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David L. Goodin
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SUBJECT
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Promotion
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Salary Grade and Base Salary
: Effective September 30, 2017, your salary grade will be a Grade “J”, and your base salary will increase from $225,500 to $350,000, a 55.2% increase. This includes your annual salary increase for 2018.
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Stock Ownership Guidelines
: Salary Grade “J” requires ownership in company stock of three times your base wage. Your new salary multiple commences with this promotion and must be met by end of year 2022.
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Annual Incentive/Executive Incentive Compensation Plan (EICP):
Effective September 30, 2017, your annual incentive target will be 65% of base salary. For plan year 2017, your incentive calculation will be prorated at your current rate for nine months and the new percentage rate for three months.
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Long-Term Performance-Based Incentive Plan (LTIP-Performance Shares)
: I will recommend to the Board of Directors that your target award will be 120% of base salary for year 2018. The award for 2017 will remain as issued and approved by the compensation committee earlier this year.
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Section 16 Officer
: You will continue to be a Section 16 Officer. As a review, attached is an explanation setting forth the rules and obligations of being a Section 16 Officer of MDU Resources. Compliance with these obligations is critical.
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Non-Qualified Defined Contribution Plan
: In 2018 you will be recommended for a contribution to your plan.
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/s/ Jason L. Vollmer
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9-21-17
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