1-35740
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71-0556971
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(Commission File Number)
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(I.R.S. Employer Identification No.)
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3200 Industrial Park Road
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Van Buren, Arkansas
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72956
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(Address of Principal Executive Offices)
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(Zip Code)
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(479) 471-2500
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(Registrant’s telephone number, including area code)
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an annualized base salary of $250,000;
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a cash bonus of $125,000, payable one-half promptly following Mr. Hugo’s commencement of employment with the Company (the “Start Date”), and one-half on October 31, 2017, subject to certain relocation, continuous employment, and recoupment provisions;
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participation in the Company's Management Bonus Plan for 2017 as follows:
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a cash bonus with a target of 60% of prorated base salary for 2017, depending upon performance relative to goals set by the Committee;
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a grant of restricted shares at target equal to 18% of prorated base salary for 2017, with vesting conditioned upon achievement during the applicable performance period of performance goals to be set by the Committee, subject to additional time-based vesting in four equal annual installments through 2021, as well as continued employment and certain other vesting and forfeiture provisions; and
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a grant of restricted shares at target equal to 60% of annual base salary for 2017, with vesting conditioned upon achievement during the applicable performance period of performance goals to be set by the Committee, subject to continued employment and certain other vesting and forfeiture provisions;
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upon a qualifying severance event, subject to other customary provisions, salary continuation payments for 12 months or such lesser number of months as Mr. Hugo has been employed by the Company at such time, plus an amount equal to his short-term cash incentive target (“STI Target”), if and to the extent earned and prorated for the portion of the fiscal year employed prior to the qualifying severance event, under any short-term cash incentive plan that has been adopted by the Committee prior to the qualifying severance event for the fiscal year in which the qualifying severance event occurs;
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upon a qualifying change-in-control event, subject to other customary provisions, a lump sum payment equal to 150% of his annual base salary and STI Target, and reimbursement, on an after-tax basis, of any premiums paid by Mr. Hugo pursuant to the provisions of the Consolidated Omnibus Budget Reconciliation Act of 1995, as amended, for a period of 18 months;
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$50,000 for relocation expenses, subject to relocation, continuous employment, and recoupment provisions
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reimbursement of customary realtor commissions payable upon the sale of Mr. Hugo’s home and certain transition expenses.
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USA Truck, Inc
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(Registrant)
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Date:
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May 8, 2017
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/s/ James D. Reed
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James D. Reed
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Chief Executive Officer and President
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EXHIBIT
NUMBER
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EXHIBIT DESCRIPTION
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Press release issued by the Company on May 8, 2017.
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